Silver jumps on firm global signs in market

In the domestic market Silver futures closed high on Wednesday after participants raised their bets amid firming global trends. Analysts attributed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,200 per kg, upward by 0.06 per cent, after opening at Rs 42,185, against a last close of Rs 42,175. It touched the intra-day high of Rs 42,477.

Read More- Silver Updates

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Commodity Watch: Silver shines on global cues

In the domestic market Silver futures closed high on Friday as investors & speculators widened their positions in the precious metals amid firm trend in global markets. 

Further, participants build up of positions by tracking a little better trend in global markets for precious metals after the September US non-farm payrolls came in at up 156,000, which was a slight miss to the downside from market expectancy of a rise of 170,000, supported prices for silver at futures trade.

At the MCX, silver futures for Dec 2016 contract ended at Rs 41846 per kg, upward by 0.78 %, after opening at Rs 41625, against a last close of Rs 41521. It touched the intra-day high of Rs 42300.

Read More- White Metal Update

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NCDEX ~ Agri Commodity Market Updates Today 30 March 2012

Pepper futures are expected to trade lower on weak export demand. Pepper April futures prices are expected to extend the volatile movement on back of prevailing uncertainty about the trend. Turmeric futures may extend its weak trend as arrivals may rise in major spot markets in the upcoming days. Cardamom futures prices are expected to trade slightly lower initially during the day. Outlook for Jeera is down for the day. Jeera April futures prices are expected to trade slightly positive on extended recovery during early trading hours. Guar Complex is expected to trade lower for the day.

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