Silver Rises On Strong Global Cues

Silver futures closed higher in the domestic market on Monday as traders built up fresh positions tracking a firm trend overseas.

Market analysts said that fresh positions created by participants in line with a firm trend in precious metals in global markets ahead of policy meetings at the US Federal Reserve and the Bank of Japan this week, mainly influenced silver prices at the futures trade.

At the MCX, silver futures for December 2016 contract closed at Rs 46,024 per kg, up by 1.66 per cent, after opening at Rs 45,620, against a previous close of Rs 45,273. It touched the intra-day high of Rs 46,268.

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Suhani Verma

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