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Wednesday, 25 February 2015

MCX Silver May futures rises over 1 per cent at Rs 36,931

Silver prices have had an impact amid estimation of the delay in rising interest rates in the US, the dollar has weakened.

MCX Silver prices rose in futures trading today as the participants are building new positions supported by firm global trend. Also disguise short positions by speculators also endorsed the upside.

At At the Multi Commodity Exchange (MCX), Silver May futures contract was trading at Rs 36931 up Rs 507, or 1.39 percent.

In the capital city, silver ready stayed in demand and moved up by Rs 500 to Rs 37,300 per kg and weekly-based delivery by Rs 435 to Rs 36,680 per kg.

Silver coins also sprouted up Rs 1,000 to Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces in demand for marriage hectic season.

Meanwhile, silver futures for delivery in May 31.7 cents, or 1.95% rebounded, trading at $ 16.55 a troy ounce. Prices hit $ 16.08 on Tuesday, the lowest level since Jan. 5.

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