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Saturday, 6 December 2014

MCX Silver prices slips over 1% in futures trade on weak global cues



Silver futures prices on MCX declined 1% in futures trade on weak global cues.

At the Multi Commodity Exchange, silver futures delivery in far-month May 2015 was trading at Rs 37,470 down Rs 428, or 1.13%. Silver futures touched an intraday high of Rs 37,583 and an intraday low of Rs 37,470.

In Delhi, silver ready held under selling pressure and poured out another Rs 200 to Rs 36,700 per kg.

However the delivery of a weekly basis traded higher by Rs 200 to Rs 36,700 per kg on increased buying by speculators.

Moreover, silver coins were wondered the last level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces in dispersed deals.

In the international marketplace, bullion fell on Friday after official data show a healthy rebound in US hiring boosted demand for the dollar, which trades inversely as the precious metal.

Elsewhere, Comex silver for March delivery was down 1.64% at $16.303 a troy ounce.


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