Silver regains on MCX, positive sentiments flowed

Published: Tuesday, September 27, 2011, 11:59 [IST]

Silver prices regained on Tuesday, after snapping a three-day losing streak with the return of investors confidence over the gray metal. Silver was trading close to Rs 54,000 per kg in morning trade.

Silver for delivery in December at the Multi Commodity Exchange, opened at Rs 52,495 per kg, rose further and was trading in the range of Rs 54,015 – Rs 54,030 per kg, up by 4% at 11:45 am IST.

It fell to the lowest of Rs 45,824 per kg on Monday.

And, the metal for March contract delivery opened at Rs 54,099 per kg and was trading high in the range of Rs 55,158 – Rs 55,248 per kg.

Silver usually mirror the performance of gold during trading session, so if sentiments towards gold are positive, same reflects in the price of silver as well.

Gold too recovered Tuesday morning, the most-active gold for October delivery was seen trading in the range of Rs 26,380 – 26,281 per 10 grams, up by 2.7%.

Festive season in India will aid prices to move up further.

GoodReturns.in

Story first published: Tuesday, September 27, 2011, 11:59 [IST]

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