New Delhi: Silver prices rose by Rs 176 to Rs 64,188 per kg in futures trading on Wednesday on increased buying by speculators on higher global trend.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 176, or 0.27 percent, to Rs 64,188 per kg, with a business turnover of 58 lots.

Likewise, the white metal for December delivery traded higher by Rs 162, or 0.26 percent, to Rs 62,476 per kg, with a business turnover of 2,223 lots.

Marketmen attributed the rise in silver futures to higher global trend as central banks and investors bought the precious metal to hedge against the prospect of weaker currencies and slowing growth.

Meanwhile, silver rose 0.6 percent to USD 33.95 an ounce in Singapore.

(Agencies)

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