MCX Silver May contract futures reclaim Rs 40,000 per kg on global cues

Silver futures prices sharply gained on Wednesday by Rs 517 to trade above the Rs 40,000 per kg as traders created speculative positions, largely driven by a firming trend overseas. Silver trading higher after a gap of four months in futures trade on Wednesday.

At the Multi Commodity Exchange, silver May futures contract surged by Rs 517, or 1.29 per cent, to Rs 40,650 per kg.

Sfutures hit an intraday high of Rs 40,534 and an intraday low of Rs 40408, and so far 50 contracts have been traded.  While, 2043 contracts have been traded for Silver March futures on MCX.

In the national capital, Silver ready regained the Rs 40,000 per kg mark by spurting Rs 950 to Rs 40,150 per kg and weekly-based delivery by Rs 1,035 to Rs 40,215 per kg.

On the other hand, silver coins traded at last level of Rs 64,000 for buying and Rs 65,000 for selling of 100 pieces on restricted buying at higher levels.

Bullion merchants said domestic market, driven by wedding season demand amid firming global cues.

Globally, on the Comex, silver futures for March delivery tacked on 21.2 cents, or 1.18%, to trade at $18.16 a troy ounce, the highest level since September 19.

 

MCX Silver March futures down 1.4% on profit-booking

MCX Silver futures prices fell sharply 1.4% in futures today due to profit-booking by speculators amid a weak global trend.

Bullion is trading below at the highest level in 12 weeks, as traders calibrated the impact of falling commodity prices on global growth and inflation outlook facing interest rates in the United States.

At the Multi Commodity Exchange, Silver March futures contract was trading at Rs 37,400 down Rs 530, or 1.40 percent. Prices touched an intraday session high of Rs 37601 and an intraday session low of Rs 37333. So far on MCX 1886 futures contracts have been traded.

At the bullion market today, silver ready fell by Rs 520 to Rs 37,280 per kg and weekly-based delivery by Rs 230 to Rs 37,300 per kg.

On the other hand, silver coins held steady at Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

In the international market on the Comex, silver March futures delivery climbed 14.5 cents, or 0.85%, to trade at $17.13 a troy ounce.

MCX Silver March futures rise by Rs 325 to Rs 37,158 per kg on global cues

Silver futures prices rose sharply at MCX on Monday as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 325, or 0.87%, at Rs 37,158 per kg. Silver prices touched an intraday high of Rs 37179 and an intraday low of Rs 37035. So far 864 contracts have been traded on MCX.

In the national capital Delhi, silver ready recovered by Rs 400 to Rs 37,250 per kg and weekly-based delivery by Rs 415 to Rs 37,245 per kg.

On the other hand, silver coins continued to be traded at last level of Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

Bullion rose to a 1-month high on global market speculation that the Fed will go slow in raising interest rates to safeguard the economic expansion. Silver advanced on comex, futures for March delivery rallied 15.3 cents, or 0.93%, to trade at $16.57 a troy ounce.

MCX Silver May futures contract surges at Rs 37,835 up Rs 302, or 0.80 percent on positive global cues

Riding high on positive global cues amid growing fears that Greece might exit the euro zone, Silver futures prices on MCX gained on Tuesday.

On positive global cues, participants created fresh speculative positions, At the Multi Commodity Exchange, silver futures delivery in far-month May contract surged by Rs 302, or 0.80%, to Rs 37,835 per kg.

Silver futres touched an intraday high of Rs 37,859 and an intraday low of Rs 37,731.

In a similar fashion in Delhi bullion marketplace, Silver advanced further by Rs 550 to Rs 37,300 per kg and weekly-based delivery by Rs 425 to Rs 37,200 per kg.

Silver coins spurted by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

Similarly, silver for delivery in March traded higher by Rs 155, or 0.42%, to Rs 37,181 per kg.

Meanwhile, silver futures for March delivery picked up 6.5 cents, or 0.4%, to trade at $16.27 a troy ounce, also on the Comex.

MCX Silver May contract at Rs 37373 up Rs 447, or 1.21 percent

Silver prices on the Multi Commodity Exchange were trading higher on Monday at Rs 37373 up Rs 447, or 1.21 percent. Silver May futures contract was touched an intraday high of Rs 37507 and an intraday low of Rs 37190. So far 86 contracts have been traded on the Multi Commodity Exchange.

Elsewhere in white metals trading at global market, Silver for delivery in March climbed as much as 2.1 percent to $16.095 an ounce in New York and last traded at $15.91.

At the bullion market in the national capital, silver ready rebounded by Rs 515 to Rs 36,750 per kg and weekly-based delivery by Rs 540 to Rs 36,775 per kg.

On the other hand, silver coins maintained a steady trend at Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.