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Monday, 2 March 2015

MCX Silver May futures rise by 1.1% on global cues

Silver futures prices rose in the MCX trading market today as speculators created fresh positions after it rose in overseas markets, as US reported a slower pace of economic expansion than estimated.

At the Multi Commodity Exchange, Silver May contract was trading up by Rs 407, or 1.10%, at Rs 37,421 per kg. Prices hit an Intraday session high of Rs 37447 and an Intraday session low of Rs 37210. So far 1490 futures contracts have been traded in MCX.

Similarly, White metal March delivery was trading at Rs 37,050 up Rs 334, or 0.91 percent. Prices touched an Intraday high of Rs 37100 and an Intraday low of Rs 36905. So far 614 futures contracts have been added by market players.

Silver prices also moved up by Rs 400 to Rs 37,600 per kg on increased offtake by industrial units and coin makers in the national capital. Prices of silver coins spurted by Rs 1,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 piece on ongoing wedding season demand.

Meanwhile, at Comex New York silver futures for May delivery climbed 13.9 cents, or 0.84%, to trade at $16.69 a troy ounce.

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