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Monday, 25 August 2014

MCX Silver September futures contract slips on weak demand amid U.S. interest rate outlook

Silver futures prices fell in futures trading today as speculators cut back positions amid signs of weak global markets on interest rates outlook in the United States.

MCX Silver prices on were trading lower on Monday, at Multi Commodity Exchange, silver futures delivery in September traded lower by Rs 59, or 0.14 per cent, to Rs 41,896 per kg. Silver prices touched an intraday high of Rs 41954 and an intraday low of Rs 41860. So far 753 contracts have been traded in morning trade session on MCX.

Khelo MCX commodity market analysts attributed silver futures traded lower level on weak cues from overseas markets, as bullion market players continued to price in a greater risk of a sooner-than-expected hike in U.S. interest rates.

Also on U.S. Comex, silver for December delivery dipped 0.05%, or 0.9 cents, to trade at $19.45 a troy ounce.

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