Wednesday, 30 December 2015

Silver up on positive global cues

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Silver futures were trading higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a positive trend in the overseas market but trading volumes remained thin with most investors on the sidelines ahead of the New Year. 

The focus today will be on US housing data which may shape the outlook for US interest rates in 2016, affecting movement in precious metals which tend to get adversely affected by monetary tightening. US pending home sales index probably rose 0.5 per cent in November from October when it climbed 0.2 per cent, data may show today. 

At the MCX, Silver futures for March 2015 contract is trading at Rs 33,595 per kg, up by 0.11 per cent after opening at Rs 33,656, against the previous closing price of Rs 33,558. It touched the intra-day high of Rs 33,696. (At 12:01 PM).

1 comment:

  1. The given silver trading news are awesome. Silver trading range for the day is 38388-42270 as estimated by Epic Research.