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Friday, 13 June 2014

MCX Silver September futures contract up 0.34 per cent on overseas cues

Silver prices on MCX gained on Friday. MCX Silver prices driven by Rs 140 to Rs 41,499 per kg in futures trade today after investors largely created positions driven by a reaffirming trend overseas.

MCX Silver September futures contract was trading at Rs 41499 up Rs 140, or 0.34 percent. The Silver price hit an intraday high of Rs 41518 and an intraday low of Rs 41454. So far 83 contracts have been traded.

Market observers blamed the rise in silver prices at futures trade to a reaffirming trend in the world markets on worries that the U.S. recovery may be stagnating.

At Comex, silver for July delivery slipped 0.10% to trade at $19.513 a troy ounce. Silver rose as much as 0.50 per cent to USD 19.63 an ounce in Singapore today.

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