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Friday, 13 February 2015

Silver March futures up by 0.8% to Rs 37,510 per kg on global cues

Prices of silver futures up in the domestic market, participants built up speculative positions, driven a large extent by a firming trend overseas.

At the Multi Commodity Exchange, silver futures March soared by Rs 285, or 0.77%, to Rs 37,510 per kg.

 Amid the overall trend, silver ready rebounded by Rs 450 to Rs 38,100 per kg and weekly-based delivery by Rs 460 to Rs 37,640 per kg at the Delhi bullion market today.

Silver coins, however, traded at the last level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.

International Spot silver prices were reduced by about 6 percent in the last two weeks, while MCX silver prices also fell by over 5 percent. Falling bullion prices, and declining speculative interest and profit booking at upper levels pulled prices even higher.

Metals trading at global front, silver for March delivery jumped 1.13% to $16.987 a troy ounce.

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