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Tuesday, 9 December 2014

MCX Silver futures trades higher over 2% to Rs 37,450 on global cues



Silver futures prices on MCX were trading higher on Tuesday. In the international market bullion has been again stronger as decline in the dollar index. Bullion prices in the domestic market has increased nearly 1-2 per cent. The rupee has also supported bullion in the domestic market. MCX Silver gained over 2% and traded near Rs 37,450.

At the Multi Commodity Exchange, Silver metal futures delivery in March traded higher by Rs 864, or 2.31%, to Rs 37,435 per kg.

In the capital city, Delhi silver ready retrieved by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.

Furthermore, silver coins stayed stable over Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.

Meanwhile,on the Comex, silver futures for March delivery jumped 16.9 cents, or 1.04%, to trade at $16.44 a troy ounce.

Analysts said overnight gains in bullion in global markets as signs of the money supply will be increased in Europe and Asia revived investor demand influenced futures prices of silver.

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