Precious Metals
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Silver prices rose by 0.98 per cent to Rs 44,936 per kg in futures trade today largely in tune with a recovery trend in precious metals overseas amid covering up of pending short positions by speculators.
At the Multi Commodity Exchange, silver for delivery in December traded higher by Rs 436, or 0.98 per cent, to Rs 44,936 per kg in business turnover of 987 lots.
Similarly, the white metal for delivery in far-mmonth March next year contracts traded Rs 431, or 0.94 per cent, higher at Rs 46,350 per kg in a turnover of 77 lots.
In the international market, silver rebounded to USD 20.11 an ounce in Singapore from yesterday's $19.59, the lowest since August 8.
Market analysts said besides short covering by speculators, a recovery in both the precious metals in the global market as the dollar weakened and lower prices spurred demand in China, the second-largest consumer, influenced silver prices in futures trade here.
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