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Monday, 12 January 2015

MCX Silver March futures rise by Rs 325 to Rs 37,158 per kg on global cues

Silver futures prices rose sharply at MCX on Monday as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 325, or 0.87%, at Rs 37,158 per kg. Silver prices touched an intraday high of Rs 37179 and an intraday low of Rs 37035. So far 864 contracts have been traded on MCX.

In the national capital Delhi, silver ready recovered by Rs 400 to Rs 37,250 per kg and weekly-based delivery by Rs 415 to Rs 37,245 per kg.

On the other hand, silver coins continued to be traded at last level of Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

Bullion rose to a 1-month high on global market speculation that the Fed will go slow in raising interest rates to safeguard the economic expansion. Silver advanced on comex, futures for March delivery rallied 15.3 cents, or 0.93%, to trade at $16.57 a troy ounce.

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