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Tuesday, 5 May 2015

Silver May futures down 0.25% on profit-booking, as metal edges higher overseas



Silver prices declined in futures trading today as a profiteer locked in profits at prevailing levels even as metal edged higher overseas.

The short-term outlook for the silver futures contract traded on the Multi Commodity Exchange (MCX) is bullish. However, such a sharp fall looks unlikely at the moment.

At the Multi Commodity Exchange futures trading, silver for delivery in May moved down by Rs 92, or 0.25 per cent, to Rs 37,038 per kg.

On the global front, the short-term outlook for the spot silver is also bullish. On the Comex, silver futures for July delivery shed 3.8 cents, or 0.23%, to trade at $16.40 a troy ounce. The price dipped below $16 last week.

Meanwhile, silver spot traded 0.1 per cent higher at $16.42 an ounce in Singapore today.

Silver prices climbed at the bullion market on positive global cues. Silver ready also recorded a hefty rise of Rs 850 to Rs 37,750 per kg and weekly-based delivery by Rs 575 to Rs 37,115 per kg. Silver coins also spurted by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

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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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Tuesday, 7 April 2015

MCX Silver falls amid a weak trend in global markets as dollar rebounds


Prices of silver futures tumbled on Tuesday as speculators reduced positions amid weakness in global markets, as traders continued to monitor the direction of the dollar for measuring the appeal of the precious metal.

Silver futures for delivery in May down Rs 309, or 0.81 percent. Prices touched a session high of Rs 38140 and low of Rs 37825. So far 2087 futures contracts have been traded on the Multi Commodity Exchange.

Snapping its four-day rising streak at Delhi bullion market, silver ready dropped by Rs 500 at Rs 38,000 per kg and weekly-based delivery by Rs 290 at Rs 37,890 per kg. Silver coins, however, continued to be traded at the last level of Rs 57,000 for buying and Rs 58,000 for selling of 100 pieces.

On the Comex, silver futures for May delivery dropped 23.7 cents, or 1.39%, to trade at $16.87 a troy ounce in New York. Meanwhile, silver dropped 0.5% to $16.91 an ounce in Singapore.

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Monday, 6 April 2015

MCX Silver futures rises by 1.9% to Rs 38,046 per kg on global cues



Silver futures prices soared in futures trade today after participants built up positions, taking positive cues from overseas markets on Fed rate hike outlook.

At the MCX, silver prices for delivery in May spurted by Rs 697, or 1.87%, to Rs 38,046 per kg. Prices touched an Intraday high of Rs 38,225 and an Intraday low of Rs 37,431. So far 3796 futures contracts have been traded in MCX.


Following futures market, silver ready recorded significant rise of Rs 900 to Rs 38,500 per kg and weekly-based delivery by Rs 830 to Rs 38,180 per kg. Silver coins also spurted by Rs 1,000 to Rs 57,000 for buying and Rs 58,000 for selling of 100 pieces.

On the Comex New York, silver futures for May delivery surged 40.2 cents, or 2.41%, to trade at $17.10 a troy ounce, while silver gained 0.2% to $17.10 an ounce in Singapore.

Bullion trading activity is expected to remain low on Monday, with markets in Europe, the U.K. and China all closed for holidays.


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Wednesday, 1 April 2015

MCX Silver July contract gains 0.55 percent to Rs 37850



Silver prices on MCX was trading higher amid a firm global trend. On Wednesday, after data showed that U.S. non-farm private employment rose at the slowest pace in ten months.

At MCX SIlver futures for July delivery was trading at Rs 37,850 up Rs 206, or 0.55 percent. Silver touched an morning intraday session high of Rs 37,931 and an intraday low of Rs 37,824. So far only 25 futures contracts have been traded at the Multi Commodity Exchange.

At the Delhi bullion market today, Silver also found buying support and silver ready recovered by Rs 150 to Rs 37,350 per kg and weekly-based delivery by Rs 90 to Rs 37,260 per kg.

While, silver coins continued to be traded at the last level of Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Elsewhere on the Comex, silver May futures delivery tacked on 9.9 cents, or 0.6%, to trade at $16.69 a troy ounce.

Now investors concentrated their attention on the US employment report Friday, February for more information on the future path of monetary policy.

Analysts had been expecting a reading of 49.7, slightly lower than the 49.9 reading in February.

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Tuesday, 31 March 2015

MCX Silver May contract slips to Rs. 37,161 per kg




MCX Silver prices declined sharply in trading futures on Tuesday amid a weak global trend and profit-booking by speculators.

On Tuesday amid a modest recovery in the US dollar in the last trading day in March, like the precious metal posted its second straight monthly loss.

On the Multi Commodity Exchange, silver for delivery in May tumbled by Rs. 305 or 0.81 per cent to Rs. 37,161 per kg. Silver touched an Intraday high of Rs 37336 and an Intraday low of Rs 37118. So far 1745 futures contracts have been traded in MCX.

Elsewhere, silver futures for May delivery fell slightly by 0.066 or 0.40% to 16.608 a troy ounce.

Market analysts said the precious metal falls slightly on Tuesday with a weak global trend amid the dollar moved slightly higher upon strong consumer sentiment.

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Monday, 30 March 2015

MCX Silver futures down by 1.1% to Rs 37,987 per kg



MCX Silver futures down on futures trade on Monday as speculators reduced their exposures amid a
weakening trend overseas.

A data report showed that US personal spending rose for the first time in three months in February, while individual income exceeded expectations.

Silver futures delivery in May traded down by Rs 408, or 1.06%, to Rs 37,987 per kg at the Multi Commodity Exchange.

In the national capital, silver ready fell by Rs 550 to Rs 38,000 per kg and weekly-based delivery by Rs 330 to Rs 37,990 per kg. Prices of silver coins dropped Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Elsewhere on the Comex, silver futures delivery in May dipped 35.9 cents, or 2.1%, to trade at $16.71 a troy ounce.

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