MCX Silver futures rise amid a firm global trend

MCX Silver futures prices were trading higher on Monday as market players built up fresh positions amid a firm global trend. At the Multi Commodity Exchange, silver futures for delivery in far-month December gained by 0.24 percent or Rs 109 and trading at  Rs 45857.  Silver hit an intraday high of Rs 45930 and an intraday low of Rs 45849. So far 15 contracts have been traded.

KheloMCX Commodity tips advisory said profiteers gained by new positions, driven by firm global trend, influencing precious metal prices in futures trading.


Also on the Comex, silver September futures contract embedded 0.48%, or 10.1 cents, to trade at $20.98 a troy ounce.

Investors remained cautious after crash downing of a Malaysia jetliner in eastern Ukraine last week, with the United States blaming pro-Russian separatists for the act.

Gold and Silver also profited from the strengthening of Israel's ground offensive in Gaza against Hamas militants fired hundreds of rockets into Israel.

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Silver futures contract gains besides a firming trend ahead of U.S. jobless claims, housing data

Tacking an upward trend in the global markets, the prices of silver futures rose today as profiteers built new positions in the midst of covering up of short positions. A firming trend in the precious metals in the global marketplace, supported the rise in silver futures.

At the Multi Commodity Exchange, silver for delivery in far-month December was trading at Rs 45755 up Rs 310, or 0.68 percent. Silver hit an intraday high of Rs 45755 and an intraday low of Rs 45649. So far 50 contracts have been traded during morning trade.

While, Silver metal futures delivery in September was trading at Rs 44920 up Rs 343, or 0.77 percent. Silver hit an intraday high of Rs 44940 and an intraday low of Rs 44700.

 Prices of Spot silver was rose 0.1 percent Taking cues from strength in gold prices. However, the strength in the dollar index and a weak tradeing in base metals complex crowned rally.

Also at the Comex, silver for delivery in September rose 0.3%, or 6.2 cents, to trade at $ 20.83 a troy ounce. Prices dropped to $ 20.63 on Wednesday, the lowest level since June 20.

"On the MCX, prices are expected for trading silver sideways in today's trading. Meanwhile, the dwelling data which opens from the U.S. tonight will set the pace for prices in the next trade session.", KheloMCX Advisory said.

The U.S. was published reports on initial unemployment claims, housing starts, building permits, and the manufacturing index of Philly Fed later in the day.

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MCX Commodity Silver Far Month December Futures Contract Gains

Based on positive indications on foreign markets, the prices of MCX Silver recovered in the futures market today as speculators expanded positions.

At At the Multi Commodity Exchange, Silver December futures contract was trading at Rs 45,925 up Rs 170, or 0.37 percent.  MCX Silver price hit an intraday high of Rs 45925 and an intraday low of Rs 45823.

Until now 14 contracts have entered into trade. Silver prices have dropped Rs 5125, or 10.05 per cent in the December series so far.

KheloMCX Commodity Analysts said ahead of testimeony from the U.S. Fed chief Yallen  to Congress and continued tension in the euro zone over Portugal and profiteers accumulated new levels prevailing positions in silver futures helped for higher trade.

Meanwhile, at U.S. exchange Silver for September delivery rose 0.23% at $20.962 a troy ounce.



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Silver futures down on profit-booking, after climb 3.32 per cent on global cues

Silver futures prices dropped by 0.24% to Rs 46,130 per kg in futures trade today amid profit-booking by profiteers and a weak tendency overseas. Further, Silver prices shot up by 3.32 per cent to Rs 46,276 per kg in futures trade yesterday.

At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 110, or 0.24%, to Rs 46,130 per kg.

Silver price hit an intraday high of Rs 46,400 and an intraday low of Rs 46,171. So far 952 contracts have entered into trade. Silver futures prices have dropped Rs 790, or 1.68 per cent in the September series so far.

KheloMCX Commodity Market Analysts said a firming trend in global markets including Middle East tension fueled the demand for safe haven. In addition to the reservation utility of the participants, a weak tendency into global markets led to the fall in silver prices in futures trade here.

While, at global market Silver for September delivery fell 0.07% at $21.493 a troy ounce.

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MCX Silver December futures down by 0.7% at Rs 45556 per kg

The decline in gold and silver before the budget has increased. Although there has been a decline in the international market and Comex silver is trading below $ 21. Silver fell 0.7 per cent on MCX is trading at Rs 45,556.

The thing a mild is that despite the weakening rupee against the dollar in the domestic market is not supported by a weaker rupee, silver futures prices here.

At the Multi Commodity Exchange, silver futures for delivery in December shed Rs 327, or 0.70%, to Rs 45,556 per kg. Silver price hit an intraday high of Rs 45830 and an intraday low of Rs 45545. So far 37 contracts have been traded. SILVER prices have moved down Rs 5444, or 10.67 percent in the December series so far.

Khelo MCX Commodity Market analysts said speculators trimmed positions in tandem with a faint global trend since the expectation for higher borrowing costs in the U.S. prop up the dollar, reducing the appeal of precious metals as a safe haven, weighed on silver futures here.

Investors focused attention on the acts of the Fed June meeting on Wednesday ', with some other major U.S. economic releases on the calendar.

Also on the Comex, silver for September delivery fell 0.88%, or 18.7 cents, to trade at $ 21.01 a troy ounce.

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MCX Silver prices weakens in futures trade on global cues

Silver futures contract prices on MCX were trading down on Wednesday. MCX silver futures delivery in current month July was down by Rs 124, or 0.31 per cent, to Rs 44,160 per kg and silver futures delivery in September fell by Rs 90, or 0.20 per cent, to Rs 44,800 per kg.

While in morning trade, MCX Silver December futures contract was trading at Rs 45737 up Rs 5, or 0.01 percent. Silver price hit an intraday high of Rs 45737 and an intraday low of Rs 45655. So far 10 contracts have been traded.

KheloMCX.com market analysts said a mild trend overseas due to the recent spike in precious metals has reduced physical demand and gave rise to a fall in silver prices in futures trade here.

Also on the Comex, silver for September delivery settled down 0.28%, or 6.0 cents, to trade at $ 21.05 a troy ounce. Prices partially recovered to $ 21.21 on Tuesday, the highest level since March 18.

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