Based on positive indications on foreign markets, the prices of MCX Silver recovered in the futures market today as speculators expanded positions.
At At the Multi Commodity Exchange, Silver December futures contract was trading at Rs 45,925 up Rs 170, or 0.37 percent. MCX Silver price hit an intraday high of Rs 45925 and an intraday low of Rs 45823.
Until now 14 contracts have entered into trade. Silver prices have dropped Rs 5125, or 10.05 per cent in the December series so far.
KheloMCX Commodity Analysts said ahead of testimeony from the U.S. Fed chief Yallen to Congress and continued tension in the euro zone over Portugal and profiteers accumulated new levels prevailing positions in silver futures helped for higher trade.
Meanwhile, at U.S. exchange Silver for September delivery rose 0.23% at $20.962 a troy ounce.
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