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.

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.

MCX Silver falls nearly by 0.4% on global cues

MCX Silver futures contract trades lower today as market players engaged in trimming positions against the backdrop of weak global trends.

At the Multi Commodity Exchange, silver for delivery in May was trading at Rs 37,855 down Rs 136, or 0.36 percent. Silver rates hit an intraday high of Rs 37915 and an intraday low of Rs 37829. So far 974 futures contracts have been traded on MCX.


In the international market, silver futures for May delivery dipped 0.5 cents, or 0.03%, to trade at $16.97 a troy ounce.

MCX Silver futures contract decline by 0.9% at Rs 37,440 on global cues

Silver prices fell sharply in futures trade today as bullion traders reduced their positions amidst a weak global trend.

At the Multi Commodity Exchange (MCX), silver for delivery in May was trading at Rs 37,440 down Rs 349, or 0.92 percent. Prices touched an Intraday session high of Rs 37721 and an Intraday session low of Rs 37353. So far on MCX 1963 futures contracts have been traded.

Similarly, July contract was trading at Rs 37869 down Rs 370, or 0.97 percent. So far 90 futures contracts have been traded.

Meanwhile, silver futures May delivery  dropped 21.0 cents, or 1.24%, to trade at $16.67 a troy ounce. The May silver futures contract gained $1.25, or 8.96%, last week, the first weekly gain in three weeks.

MCX Silver May futures gain Rs 716 on firm global cues

Silver futures prices on MCX were trading higher on Thursday, as traders built fresh positions amid covering-up of short positions amid a rebound in precious metals overseas market.

At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 716, or 2.03 per cent, to Rs 36,028 per kg. Silver hit an Intraday high of Rs 36,030 and an Intraday low of Rs 35,500. So far as MCX 3776 futures contracts have been traded.

On similar lines, the white metal for delivery in July was trading at Rs 36450 up Rs 637, or 1.78 percent.

Addition to this sharp seasonal and festive demand, silver retrieved smartly and closed above the significant level of 36,000 rupees following heavy speculative key extraction. Silver (0.999 fineness) raise Rs 545 to settle at 36,475 rupees per kg compared to Rs 35.930 yesterday.

Investors boosted demand for bullion in Asia on Thursday, because the Fed said a widely expected rise in interest rates this year may not come in the first half and a strong US currency is a key element in time.

In the international market, silver futures for May delivery soared 2.70% to trade at $15.977 a troy ounce.

MCX Silver July contract down by 0.5% amid a weak trend overseas

The MCX Silver futures contract traded down amid a weak trend overseas on Tuesday.

At the MCX, silver for delivery in July contract was trading at Rs 35,865 down Rs 183, or 0.51 percent. Prices touched an Intraday session high of Rs 35,908 and an Intraday low of Rs 35,857.

On similar lines, Silver May contract was trading at Rs 35,379 down Rs 184, or 0.52 percent. Prices touched an Intraday session high of Rs 35,425 and an Intraday low of Rs 35,331. So far as MCX 936 futures contracts have been traded.

In the national capital bullion market, Silver prices dropped by Rs 400 to Rs 35,650 per kg on reducing offtake by industrial units and coin makers. Silver coins also plummeted by Rs 1,000 to Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

In the meantime, investors were decided to open new long positions before the monetary policy meeting held by the Federal Reserve will begin two days later in the day.

Meanwhile, at global marketplace silver futures delivery in May dropped 14.0 cents, or 0.9%, to trade at $15.47 a troy ounce. On Monday, silver futures gained 12.3 cents, or 0.79%, to close at $15.61.

MCX Silver May contract firms up by 0.27% to Rs 36,960 per kg

Silver futures prices on MCX were trading firm on Tuesday, as the precious metal weakened overseas on strengthening dollar.

At the Multi Commodity Exchange, silver for May delivery gained by Rs 98, or 0.27%, to Rs 36,960 per kg as speculators enlarged positions in futures trading. Silver touched an intraday high of Rs 37003 and an intraday low of Rs 36883. So far 1254 futures contracts have been traded on MCX.

In the national capital, Silver ready also dropped by Rs 600 to Rs 37,000 per kg and weekly-based delivery by Rs 385 to Rs 36,700 per kg amid a weak trend overseas and low demand from jewellers. Silver coins plummeted by Rs 1,000 to Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces, mostly in tune with fall in silver prices.

Gold prices in the international market have risen amid weak US dollar. Bullion investors eyed on upcoming European Central Bank meeting on Thursday, when it was expected to announce details of its quantitative easing program.

Meanwhile, Comex silver futures for May delivery dipped 5.6 cents, or 0.34%, to trade at $16.39 a troy ounce.

MCX Silver May futures rise by 1.1% on global cues

Silver futures prices rose in the MCX trading market today as speculators created fresh positions after it rose in overseas markets, as US reported a slower pace of economic expansion than estimated.

At the Multi Commodity Exchange, Silver May contract was trading up by Rs 407, or 1.10%, at Rs 37,421 per kg. Prices hit an Intraday session high of Rs 37447 and an Intraday session low of Rs 37210. So far 1490 futures contracts have been traded in MCX.

Similarly, White metal March delivery was trading at Rs 37,050 up Rs 334, or 0.91 percent. Prices touched an Intraday high of Rs 37100 and an Intraday low of Rs 36905. So far 614 futures contracts have been added by market players.

Silver prices also moved up by Rs 400 to Rs 37,600 per kg on increased offtake by industrial units and coin makers in the national capital. Prices of silver coins spurted by Rs 1,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 piece on ongoing wedding season demand.

Meanwhile, at Comex New York silver futures for May delivery climbed 13.9 cents, or 0.84%, to trade at $16.69 a troy ounce.