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Wednesday, 8 October 2014

MCX Silver December futures traded higher by 0.75% amid a firming trend in precious metals overseas

MCX Silver prices rose in the futures market today as speculators established new positions amid a firming trend in precious metals overseas.

At the Multi Commodity Exchange Silver December futures was trading at Rs 38,654 up Rs 290, or 0.75 percent. Prices touched an intraday high of Rs 38480 and an intraday low of Rs 38362. So far 1284 contracts have been traded into the MCX Commodity Exchange.


"IMF global growth estimates for this year and next year have reduced. According to the IMF, the Eurozone, Japan, and Brazil's economy is expected to slow. Global growth have estimated to cut lead in gold and silver. To firm up the international market, domestic bullion prices are getting support." KheloMCX.com Market analysts said

Also on the Comex, silver for delivery in December inserted at 9.7 cents, or 0.56%, to trade at $ 17.33 a troy ounce. Prices plunged to a four-year low of $ 16.64 on October 3.

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