White metal jumps on firm global signs in market

Silver futures closed high in the domestic market on Tuesday after participants raised their bets amid firming global trends. Analysts imputed 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 42,433 per kg, upward by 0.89 %, after opening at Rs 42,151, against a last close of Rs 42,058. It touched the intra-day high of Rs 42,458.

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Silver down on weak global signs in market

On the domestic market Silver futures closed low on Friday as participants engaged in trimming their positions taking weak signs from global market. Marketmen attributed the drop in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for Dec 2016 contract closed at Rs 41,780 per kg, down by 0.26 %, after opening at Rs 41,856, against a previous close of Rs 41,890. It touched the intra-day lower of Rs 41,567.

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White metal up on strong global cues

Silver futures closed high in the domestic market on Wednesday as participants widened their positions, tracking a firm trend in global market.

Analysts attributed the hike in silver prices at the futures trade to expanding of positions by speculators, tracking a strong trend in precious metals overseas.

At the MCX, silver futures for December 2016 contract closed at Rs 42,100 per kg, upward by 0.24 per cent, after opening at Rs 41,867, against a previous close of Rs 41,998. It touched the intra-day higher of Rs 42,150.

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