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Thursday, 26 June 2014

MCX Silver September futures contract trades down 0.5% on weak global trend

Silver prices on MCX is trading down on Thursday. Silver futures declined 0.52% to Rs 44,419 per kg today as profiteers cut positions in weaker signals from global markets.

There is weakness in gold and silver on international marketplace. Comex gold at livels of $ 1319 by 0.25 per cent. However, silver is 0.7 per cent down and the price level of $ 21.

At the Multi Commodity Exchange, Silver September futures contract was lost Rs 227, or 0.50%, to Rs 44,925 per kg. Silver pricehit an intraday high of Rs 44979 and an intraday low of Rs 44780. So far 219 contracts have been traded.

While, At the Multi Commodity Exchange, silver for delivery in July eased by Rs 234, or 0.52%, to Rs 44,419 per kg. Silver price hit an intraday high of Rs 44,565 and an intraday low of Rs 44,381. So far 1051 contracts have been traded.

Khelo MCX Commodity analysts said,  a weak tendency overseas as the heaviest stocks dented safe-haven appeal of precious metals, "mainly demolished prices for silver in futures trading.

Meanwhile, Also on the U.S. exchange Comex, silver for September futures contract lost 1.03%, or 21.8 cents, to trade at $20.95 a troy ounce.

KheloMCX Commodity Advisory  offers MCX Silver free trading tips, Intraday Silver tips, visit today for free advisory:

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