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Silver futures jumped by Rs 716 to Rs 36,028 per kg today as speculators built fresh positions amid covering-up of short positions amid a rebound in precious metals overseas.
On the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 716 or 2.03 per cent to Rs 36,028 per kg in a business turnover of 2,010 lots.
On similar lines, the white metal for delivery in July traded higher by Rs 653 or 1.82 per cent at Rs 36,466 per kg in a turnover of 17 lots.
In the international market, silver traded higher by 0.3 per cent at $16.00 an ounce in Singapore.
Market analysts said besides covering-up of short positions by speculators, a firm trend in precious metals in the global market after the Federal Reserve indicated that interest rates may rise at a slower pace than estimated, raised the demand for the precious metals.
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