Silver rises on firm global cues in the domestic market

Silver futures closed higher in the domestic market on Tuesday as participants raised their bets amid firming global trends.

Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for March 2017 contract closed at Rs 42,521 per kg, up by 0.23 per cent, after opening at Rs 42,549, against a previous close of Rs 42,422. It touched the intra-day high of Rs 42,888.





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Precious Metal Updates for 14 Oct 2016

 

Gold futures closed higher in the domestic market on Thursday as speculators enlarged positions amid a firm global trend.

Market analysts attributed rise in gold prices at futures trade to building up of fresh positions by participants, tracking positive global cues.

At the MCX, gold futures for December 2016 contract ended at Rs 29720 per 10 grams, up by 0.23 per cent, after opening at Rs 29,800, against a previous close of Rs 29,651. It touched the intra-day high of Rs 29,885.
 

Silver futures closed lower in the domestic market on Thursday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall 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 December 2016 contract closed at Rs 41,936 per kg, down by 0.27 per cent, after opening at Rs 42,300, against a previous close of Rs 42,051. It touched the intra-day low of Rs 41,851.

 

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In Today Market Silver down on weak global cues

 

Silver futures closed lower in the domestic market on Friday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall 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 December 2016 contract closed at Rs 45,760 per kg, down by 0.16 per cent, after opening at Rs 45,680, against a previous close of Rs 45,834. It touched the intra-day low of Rs 45,616.

 

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Today Silver Rises on strong Global cues in the market

Silver futures closed higher in the domestic market on Thursday as traders created speculative positions taking positive cues from the global market

Market analysts said a firming trend in the precious metals in global market, mainly attributed to the rise in silver prices at futures trade.

At the MCX, Silver futures for September 2016 contract closed at Rs 47,700, per 1 kg, up by 0.06 per cent after opening at Rs 47,633, against the previous closing price of Rs 47,671. It touched the intra-day high of Rs 47,929.

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Today Silver Dips on weak Overseas cues Market

Silver futures closed lower in the domestic market on Wednesday as speculators engaged in reducing their positions, tracking a weak trend in global markets.

Analysts attributed the fall in silver at the futures trade to a weak trend in global markets as risk appetite returned to financial markets, pushing US stocks to a record on optimism about the economy’s strength and eroded the demand for haven assets.

At the MCX, Silver futures for September 2016 contract closed at Rs 46,047, per 1 kg, down by 2.08 per cent after opening at Rs 46,947, against the previous closing price of Rs 47,024. It touched the intra-day low of Rs 45,951.

 

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Silver Metal is in Reverse Gear on Profit-Booking During the Morning Trade

Silver futures were trading lower during the morning trade in the domestic market on Thursday as traders booked-profit at prevailing levels amid a weak trend overseas.

Analysts said the decline in silver in the futures trade attributed to a fall in demand for safe haven assets tracking a weak trend overseas followed by the release of the US Fed meeting minutes, which showed that the majority of Fed members were cautious to adjust rates following poor US labour data and Brexit vote.

At the MCX, silver futures for September 2016 contract is trading at Rs 47,779 per 10 grams, down by 0.02 per cent, after opening at Rs 47,949, against a previous close of Rs 47,788. It touched the intra-day low of Rs 47,761 . 

 

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Mcx Silver Tips - White Metal Dips On Global Rally In Domestic Market.

 

Silver futures were trading lower during the morning trade in the domestic market on Tuesday on diminishing demand as speculators indulged in trimming their positions in the spot market amid global uncertainity on growing expectations that the United Kingdom will remain part of the European Union lifted investors’ appetite for riskier assets.

Speculators trimmed positions at existing levels in the spot market amid rally in major Asian markets, weighed down Silver futures.

At the MCX, Silver futures for July 2016 contract is trading at Rs 41,719 per kg, down by 0.18 per cent, after opening at Rs 41,688, against a previous close of Rs 41,795. It touched the intra-day low of Rs 41,631 .

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Silver Posts Mild losses On Caution Ahead of jobs Data

Silver futures were trading lower during noon trade in the domestic market on Friday as investors and speculators took a cautious approach ahead of March jobs data from the US which may dictate the timing of the US Federal Reserve’s next interest rate hike.

The US economy may have added 205,000 jobs in March, down from 242,000 in February, analysts estimated.
 

A rise in jobless claims last week to the highest level in two months signaled a cooling US labour market recovery, further bolstering the case for the Fed to refrain from rate tightening at its upcoming policy meet this month.
 

At the MCX, Silver futures for May 2016 contract is trading at Rs 36,705 per kg, down by 0.13 per cent, after opening at Rs 36,704, against the previous closing price of Rs 36,751. It touched an intraday low of 36,701.
 

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Silver Tips - Silver Tad Lower On Fed Uncertainty

Silver Tips - Silver futures were trading with slim losses during noon trade in the domestic market on Wednesday as investors and speculators shied away from booking fresh positions in the precious metal after a top US Federal Reserve official signaled that it was unclear whether the recent downturn in global financial markets may have a significant impact on the US economy, raising speculation that the Fed’s course of tightening interest gradually may not be much affected, dimming the lure for the precious metal as a store of value.
 

However, strong safe haven demand amid a renewed global equity and oil rout supported Silver.
 

At the MCX, Silver futures for February 2016 contract is trading at Rs 37,152 per kg, down by 0.06 per cent after opening at Rs 37,279, against the previous closing price of Rs 37,176. It touched the intra-day low of Rs 37,152.

Silver Retreats On Profit Booking

Silver futures fell during evening trade in the domestic market on Friday as the sharp gains in the previous session when prices soared by over 4 per cent as investors scurried for shelter in the safety of the precious metal amidst a growing global gloom paved the way for profit booking, by investors and speculators, in the bullion, at existing levels.

Worries over a faltering global economic recovery amidst a China slowdown, uncertainty over US interest rate outlook and tumbling oil prices sparked a flight to safe haven assets, boosting Silver prices in recent sessions.
 

At the MCX, Silver futures for March 2016 contract is trading at Rs 38,033 per kg, down by 0.67 per cent after opening at Rs 38,085, against the previous closing price of 38,288. It touched the intra-day low of Rs 37,834.

Silver shines on Robust Safe Haven Demand

Silver futures were trading on a bullish note in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal as escalating tensions in the Middle East amidst a Saudi-Iran diplomatic spat arising out of an execution of a prominent Shiite cleric by Saudi Arabia, and a worsening China stock rout, bolstered the safe haven luster for Silver.

Chinese stock markets extended Monday’s rout when the benchmark Shanghai Composite fell 7 per cent, erasing USD 590 billion of investor wealth, pushing emerging markets to the lowest level in more than six years, as a worsening China factory slump fueled more anxiety over the slowdown in the world’s second biggest economy.

At the MCX, Silver futures for March 2016 contract is trading at Rs 33,698 per kg, up by 0.49 per cent after opening at Rs 33,600, against the previous closing price of Rs 33,533. It touched the intra-day high of Rs 33,730.

Silver Trading with Modest Gains During Noon Trade

Silver Tips - Silver futures were trading with modest gains during noon trade in the domestic market on Friday as investors and speculators remained focused on the US Federal Reserve’s upcoming two-day monetary policy meet on December 15-16, where the world’s biggest central bank may hike borrowing costs for the first time since 2006.

While a rate hike is almost certain next week, the Fed’s policy tightening process is expected to be gradual, supporting precious metals, which tend to lose sheen during a period of rising interest rates.

The number of Americans who filed to claim jobless benefits soared to the highest level in five months last week, a sign that the US labour market recovery may be losing steam, bolstering the case for the Fed to tighten rates at a gradual pace.

At the MCX, Silver for March 2016 contract is trading at Rs 34,261 per kg, up by 0.13 per cent, after opening at Rs 34,151, against the previous closing price of Rs 34,215. It touched an intraday high of Rs 34,292

Silver Futures Trading With Impressive Gains in Domestic Market

Silver tips - Silver prospects were exchanging with amazing additions in the local business sector on Thursday as financial specialists and examiners booked crisp positions in the valuable metal as rising pressures in the Middle East provoked a flight to place of refuge instruments including the bullion.

Turkey on Tuesday shot down a Russian plane warrior warplane close to the Syrian outskirt, flagging compounding geopolitical pressures, during a period when worldwide pioneers are attempting to contain the Islamic State terrorists that were in charge of the Paris slaughter prior this month.

Nonetheless, the increases in Silver are liable to be just brief with theory constructing that the US Fed may bring loan fees up in December, controling the draw or the valuable metal as a store of worth.

At the MCX, Silver for December 2015 contract shut at Rs 33,984 for each kg, up by 0.50 for every penny, in the wake of opening at Rs 33,885, against the past shutting cost of Rs 33,814. It touched an intraday high of Rs 34,048.

Silver logs Modest Gains on Fed Outlook

Mcx Silver Tips - Silver futures advanced during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal as minutes from the US Federal Reserve’s latest policy meet, released late on Wednesday warranted a gradual pace of interest rate hikes in the world’s biggest economy, bolstering the outlook for the bullion as a store of value.
 

A gradual pace of tightening will benefit silver, which loses sheen as interest rates rise.Fed Vice Chairman Stanley Fisher said that policymakers have done everything they could to prepare markets for a first rate hike in almost a decade.
 

At the MCX, Silver for December 2015 contract closed at 33,873 Rs per kg, up by 0.13 per cent, after opening at Rs 33,812, against the previous closing price of Rs 33,830. It touched an intraday high of Rs 33,950.

 

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Silver Futures Trading with slim losses in Noon Trade

Mcx Silver tips - Silver futures were trading with slim losses in noon trade in the domestic market on Wednesday as investors and speculators adopted a cautious stance ahead of the release of the FOMC minutes later in the day in which policymakers from the US Federal Reserve, the world’s top central bank are likely to raise interest rates in December, for the first time in nearly a decade.Silver, a non-interest bearing asset tends to lose out in a rising interest rate scenario. US consumer prices rose for the first time in three months in October, a sign that inflation was nearing the US Federal Reserve’s goal, bolstering the case for the world’s top central bank to move ahead with a rate hike.

At the MCX, Silver for December 2015 contract closed at 33,680 Rs per kg, down by 0.08 per cent, after opening at Rs 33,600, against the previous closing price of Rs 33,707. It touched an intraday low of Rs 33,558.

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