Commodities, Featured

Silver Commodity Futures Trade Down By 35 Rupees

Silver commodity futures trade for delivery in November 2018 was down by 35 Rupees or 0.09 percent, to 39,113 Rupees per kg at the MCX (Multi Commodity Exchange). It attained a business turnover of 525 lots.

Silver prices fell in futures trade on October 24, 2018, as speculators changed their bets to attain profits. A firm trend in the overseas precious metals topped the misfortune. In the midst of a debilitating or weakening trend overseas, silver costs fell to 39,113 Rupees per kg in futures trade as speculators cut down their bets.

Market analysts stated that profit-booking at current levels reduce silver costs in silver commodity futures trade, yet a firm trend in the white metal overseas restricted the misfortunes or losses to some degree.

In the worldwide market, silver has traded to 0.49 percent higher at USD 14.86 an ounce in Singapore on October 24, 2018.

While silver for delivery in November was trading down by 35 Rupees to 39,113 Rupees per kg in a business turnover of 525 lots, the silver for delivery in December 2018 was also trading down to 32 Rupees, or 0.08 percent, to 39,081 Rupees per kg in a business turnover of 354 lots, according to the news reported on Moneycontrol.

In 2016, Silver for delivery in May was trading lower by 297 Rupees, or 0.79 percent, to 37,130 Rupees per kg in a business volume of 650 lots in MCX futures trading, based on a news reported on March 09, 2016, on The Economic Times.

Also, the white metal for delivery in July 2016 was trading down by 262 Rupees, or 0.69 percent, at 37,613 Rupees per kg with a business volume of 11 lots.

Market experts expressed that a feeble trend in valuable metals in international markets as the dollar increased ahead of a key European Central Bank meeting during March 2016 dissolving demand for the valuable metal have kept weight on silver commodity futures trade.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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