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Wednesday, 8 April 2015

MCX Silver June futures contract trades flat



MCX Silver prices were quoted flat on Wednesday as investors adopted a cautious attitude to the publication of the minutes from the last monetary policy meeting of the Federal Reserve later in the session.

In MCX Silver June contract was trading flat up by 0.09 percent at Rs 38,225. Silver prices hit an Intraday session high of Rs 38,322 and an Intraday low of Rs 38,163. So far 191 futures contracts have been traded.

Besides, subdued demand from jewellers and scattered support from industrial units, silver ready held steady at Rs 38,000 per kg, while weekly-based delivery traded lower by Rs 170 to Rs 37,720 per kg due to lack of speculative support. Meanwhile, silver coins remained flat at Rs 57,000 for buying and Rs 58,000 for selling of 100 pieces in Delhi bullion market.

On the Comex, silver futures for May delivery declined 6.5 cents, or 0.39%, to trade at $16.77 a troy ounce in New York.


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