Silver futures up 0.33% on higher overseas trend

New Delhi, Jun 19 :  Silver prices moved up by 0.33 per cent to Rs 42,827 per kg in futures trade today as speculators created fresh positions, tracking a firm global trend.

At the Multi Commodity Exchange, silver for delivery in September rose by Rs 142, or 0.33 per cent to Rs 42,827 per kg in business turnover of 142 lots. Likewise, the white metal for delivery in July edged up by Rs 68, or 0.16 per cent to Rs 42,466 per kg in 1798 lots.

Analysts said fresh positions built-up by speculators in tandem with a firm trend overseas after the US Federal Reserve said interest rates will remain low, boosting demand for bullion as an alternative investment. Meanwhile, silver rose 0.3 per cent to USD 19.95 an ounce, the highest since May 14 in Singapore.