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Tuesday, 6 January 2015

MCX Silver May futures contract surges at Rs 37,835 up Rs 302, or 0.80 percent on positive global cues



Riding high on positive global cues amid growing fears that Greece might exit the euro zone, Silver futures prices on MCX gained on Tuesday.

On positive global cues, participants created fresh speculative positions, At the Multi Commodity Exchange, silver futures delivery in far-month May contract surged by Rs 302, or 0.80%, to Rs 37,835 per kg.

Silver futres touched an intraday high of Rs 37,859 and an intraday low of Rs 37,731.

In a similar fashion in Delhi bullion marketplace, Silver advanced further by Rs 550 to Rs 37,300 per kg and weekly-based delivery by Rs 425 to Rs 37,200 per kg.

Silver coins spurted by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

Similarly, silver for delivery in March traded higher by Rs 155, or 0.42%, to Rs 37,181 per kg.

Meanwhile, silver futures for March delivery picked up 6.5 cents, or 0.4%, to trade at $16.27 a troy ounce, also on the Comex.

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