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Monday, 23 June 2014

MCX Silver July futures contract down 0.32% on profit-booking, September-December also down



As prices for silver early July saw a strong rebound last week.  Prices of silver were traded in MCX with a marginal loss on Monday. At the Multi Commodity Exchange, silver July futures contract traded lower by Rs 142, or 0.32 per cent, to Rs 44,428 per kg.

Silver price hit an intraday high of Rs 44,500 and an intraday low of Rs 44,330. So far 1256 contracts have been traded. Similarly, the white metal September futures  contract was trading at Rs 44815 down Rs 97, or 0.22 percent and December futures contract was trading at Rs 45650 down Rs 96, or 0.21 percent.

Market observers said apart from profit-booking by participants, a weak tendency of precious metals in Asia resulted in the fall in silver prices in futures trade here.

Also on the U.S. Exchange Comex, silver for September shed 0.59%, or 12.4 cents, to trade at $20.87 a troy ounce.

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