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Monday, 24 November 2014

MCX Silver March futures contract rises 0.25% to Rs 37,130 per kg on fresh positions

Silver prices rose 0.25% on Monday as investors create new positions, ignoring the metal weakness globally.

At the Multi Commodity Exchange, Silver futures delivery for March 2015 rose by Rs 92, or 0.25%, to Rs 37,130 per kg. Silver prices touched an intraday high of Rs 37,136 and an intraday low of Rs 37,046. So far 96 futures contracts have been traded on MCX futures Exchange.

Also on the New York Comex, Silver March futures delivery marginally up 3.4 cents, or 0.21%, to trade at $16.49 a troy ounce.

Bullion Market Analysts had attributed the rise in prices of silver in futures trading to new positions built up by profiteers even as metal weakens globally.

In Delhi, aligned with firmly overall trend, silver ready traded higher by Rs 100 to Rs 36,650 per kg and weekly-based delivery by Rs 80 to Rs 36,160 per kg.

The silver coins also sprouted Rs 1,000 to Rs 61,000 for purchase and Rs 62,000 for selling of 100 pieces on rising demand of the wedding season.

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