Tag Archives: silver tips

MCX SILVER May contract advances 1.2%

3 May

SILVER prices on MCX advanced. At 11:06 hrs MCX SILVER May contract was trading at Rs 45097 up Rs 556, or 1.25 percent. The SILVER rate touched an intraday high of Rs 45146 and an intraday low of Rs 44120. So far 158 contracts have been traded. SILVER prices have moved down Rs 20404, or 31.15 percent in the May series so far.

MCX SILVER July contract was trading at Rs 45156 up Rs 523, or 1.17 percent. The SILVER rate touched an intraday high of Rs 45190 and an intraday low of Rs 44896. So far 3858 contracts have been traded. SILVER prices have moved down Rs 19854, or 30.54 percent in the July series so far.

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MCX SILVER September contract was trading at Rs 46008 up Rs 517, or 1.14 percent. The SILVER rate touched an intraday high of Rs 46029 and an intraday low of Rs 45814. So far 119 contracts have been traded. SILVER prices have moved down Rs 11311, or 19.73 percent in the September series so far.

Source: http://www.moneycontrol.com/news/commodities/mcx-silver-may-contract-advances-12_864028.html

 

Gold hovers near 19-month low; bargain buying on

17 Apr

Indian gold futures edged lower on Wednesday, near their lowest level in more than 19 months, on losses in the global markets and a stronger rupee, triggering bargain buying among physical traders.

The actively traded gold contract for June delivery on the Multi Commodity Exchange (MCX) was 181 rupees lower at 25,585 rupees per 10 grams.

US gold for June delivery was 0.37 percent lower at $1,382.2 an ounce. The rupee, which firmed in trade on Wednesday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

“There are many buyers after consolidation in prices … sales will rise for Akshaya Tritiya,” said SK Jain, vice-president of All India Sarafa Association.

India, the world’s biggest buyer of the yellow metal, will celebrate Akshaya Tritiya, a key gold buying festival, next month. The wedding season has also begun and will continue till early June.

India has been trying to curb imports to put a lid on the record-high current account deficit. The federal government raised the import duty on gold, which it called a dead investment, by 50 percent to 6 percent in January.

On April 2, Finance Minister P. Chidambaram suggested the government was unlikely to raise the import tax on gold further to avoid gold smuggling.

May silver was 592 rupees lower at Rs 42,603 per kilogram.

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Source: http://www.moneycontrol.com/news/commodities/gold-hovers-near-19-month-low-bargain-buying-on_854157.html