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Thursday, 28 August 2014

MCX Silver September Futures rose by Rs 241 to Rs 42,274 per kg on global cues

MCX Silver futures prices rose by Rs 241 to Rs 42,174 per kg in futures trading today after participating urbanized speculative positions, largely boosted by a firming trend overseas.

At the Multi Commodity Exchange (MCX) Silver September futures contract was trading at Rs 42174 up Rs 241, or 0.57 percent. Silver hit an intraday high of Rs 42180 and an intraday low of Rs 42050. So far 1617 contracts have been traded in morning session.

Similarly, Silver December futures contract was trading at Rs 42913 up Rs 251, or 0.59 percent. Prices hit an intraday high of Rs 42926 and an intraday low of Rs 42832. So far 480 contracts have been enter into morning trade session.

 KheloMCX commodity experts said, "Silver has gained momentum today on MCX and Comex. Light edge in the international market. While the weekly unemployment figures are going to come in the US today. Eurozone Consumer Confidence data is to be released. Next week is the policy of the ECB. While 0.5 per cent gains in today's silver and is trading around Rs 42200."

In the global market, bullion rose third consecutive day on heightened tensions in Ukraine and the weak dollar, tackling concerns that interest rates in the United States could rise ahead of expected due the strengthening of the economy.
Meanwhile, At U.S. Comex exchange Silver for immediate delivery rose 0.9 percent to $19.6318 an ounce.

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