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Thursday, 4 September 2014

MCX Silver futures up at Rs. 41,920 per kg as recovery in precious metals overseas

MCX Silver prices were trading with gains on Thursday in futures market amidst speculators created fresh positions on the back of recovery in the precious metals overseas.

At the Multi Commodity Exchange futures market today,Silver September contracts traded higher by Rs. 127 or 0.3 per cent at Rs. 41,920 per kg. Silver prices hit an intraday high of Rs 42343 and an intraday low of Rs 41542. Market analysts said. "fresh positions created by speculators in tune with a recovery in bullion market in globally on speculation that investors assessed tensions in Ukraine and the outlook for higher U.S. borrowing costs, influenced silver prices at the futures trade."

 At NewYork Comex Silver for December delivery was up 0.15% at $19.218 a troy ounce. Spot silver rose 0.1 percent to $19.2058 an ounce.

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