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Thursday, 15 January 2015

MCX Silver March futures down 1.4% on profit-booking

MCX Silver futures prices fell sharply 1.4% in futures today due to profit-booking by speculators amid a weak global trend.

Bullion is trading below at the highest level in 12 weeks, as traders calibrated the impact of falling commodity prices on global growth and inflation outlook facing interest rates in the United States.

At the Multi Commodity Exchange, Silver March futures contract was trading at Rs 37,400 down Rs 530, or 1.40 percent. Prices touched an intraday session high of Rs 37601 and an intraday session low of Rs 37333. So far on MCX 1886 futures contracts have been traded.

At the bullion market today, silver ready fell by Rs 520 to Rs 37,280 per kg and weekly-based delivery by Rs 230 to Rs 37,300 per kg.

On the other hand, silver coins held steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

In the international market on the Comex, silver March futures delivery climbed 14.5 cents, or 0.85%, to trade at $17.13 a troy ounce.

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