MCX Silver May futures rises over 1 per cent at Rs 36,931

Silver prices have had an impact amid estimation of the delay in rising interest rates in the US, the dollar has weakened.

MCX Silver prices rose in futures trading today as the participants are building new positions supported by firm global trend. Also disguise short positions by speculators also endorsed the upside.

At At the Multi Commodity Exchange (MCX), Silver May futures contract was trading at Rs 36931 up Rs 507, or 1.39 percent.

In the capital city, silver ready stayed in demand and moved up by Rs 500 to Rs 37,300 per kg and weekly-based delivery by Rs 435 to Rs 36,680 per kg.

Silver coins also sprouted up Rs 1,000 to Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces in demand for marriage hectic season.

Meanwhile, silver futures for delivery in May 31.7 cents, or 1.95% rebounded, trading at $ 16.55 a troy ounce. Prices hit $ 16.08 on Tuesday, the lowest level since Jan. 5.

MCX Silver May contract up 0.7% amid a weak trend overseas

Silver prices on MCX gained on Wednesday in futures trade today after investors created positions amid a weak trend overseas.


"Due to an agreement with Greece speculation, gold remains at 15-month low. Comex bullion is under $1210. With China's weaker demand, the market is under pressure. However, due to the weakness in the rupee, gold-silver in the domestic market has little support. The market eye will be on FMOC meeting outcomes, which are going to come later in the day." KheloMCX Commodity Advisory said.

At the Multi Commodity Exchange, silver futures for May delivery was spurted by Rs 249 to Rs 36,623 per kg. Silver rating touched an Intraday session high of Rs 36,927 and an Intraday session low of Rs 36863 So far 90 Silver futures contracts have been traded.

In the national capital, amid poor offtake by industrial users and coin makers silver ready dropped by Rs 1,700 to Rs 37,200 per kg and weekly-based delivery by Rs 1,675 to Rs 36,600 per kg. And Silver coins plummeted by Rs 2,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.

Globally on the Comex, silver for March delivery was quoted at 2.7 cents, or 0.16%, to trade at $ 16.40 a troy ounce. On Tuesday, silver 91.6 cents, or 5.3% fell, to close at $ 16.37.

 

MCX Silver May contract up 0.2% in futures trade on global cues

 

Silver prices were traded in MCX firm on Monday as speculators enlarged positions amid positive indications from overseas markets.

"Silver adds marginally gain on Monday in early Asia trade, amid officials from Greece and the European Union talks in focus later in the day and U.S. markets shut." KheloMCX Commodity Advisory said.

At the Multi Commodity Exchange (MCX), silver futures for delivery in May edged higher by Rs 77, or 0.20 per cent, to Rs 38,609 per kg. Silver hit an Intraday high of Rs 38648 and an Intraday low of Rs 38512. So far 114 contracts have been traded in MCX.

Analysts said a better trend in precious metals in global markets as a weaker U.S. dollar and ongoing uncertainty over developments in Greece boosted the appeal of the precious metal and influenced silver prices at futures trade.

Meanwhile, on the Comex, silver futures for March delivery fell 0.10% at $17.315 a troy ounce. And silver traded 0.06 per cent higher at $17.33 an ounce in Singapore.

Silver March futures up by 0.8% to Rs 37,510 per kg on global cues

Prices of silver futures up in the domestic market, participants built up speculative positions, driven a large extent by a firming trend overseas.

At the Multi Commodity Exchange, silver futures March soared by Rs 285, or 0.77%, to Rs 37,510 per kg.

 Amid the overall trend, silver ready rebounded by Rs 450 to Rs 38,100 per kg and weekly-based delivery by Rs 460 to Rs 37,640 per kg at the Delhi bullion market today.

Silver coins, however, traded at the last level of Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.

International Spot silver prices were reduced by about 6 percent in the last two weeks, while MCX silver prices also fell by over 5 percent. Falling bullion prices, and declining speculative interest and profit booking at upper levels pulled prices even higher.

Metals trading at global front, silver for March delivery jumped 1.13% to $16.987 a troy ounce.

MCX Silver May contract gains of Rs 38354 by 0.6% on overseas cues

Silver futures prices on MCX gained on Friday for the third straight day. At the Multi Commodity Exchange, Silver May futures contract was trading at Rs 38354 up Rs 216, or 0.57 percent.

Silver futures touched an Intraday high of Rs 38388 and an Intraday low of Rs 38310 on Friday morning trading on MCX.

Commodity futures Advisory said, extending of positions by speculators on the back of the firming worldwide trend largely kept prices higher in silver futures trading.

On the other hand, at the bullion market in Delhi, silver ready moved down by Rs 250 to Rs 38,350 per kg and weekly-based delivery by Rs 425 to Rs 38,140 per kg.

Silver coins traded at the previous level of Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.

Elsewhere Globally, in white metals trading, silver for March delivery edged up 0.09% to $17.212 a troy ounce.