Silver futures have strengthened on MCX. Speculators created new positions driven by a firming trend in the global markets on account of Federal Reserve Bank of Chicago President Charles Evans statement of US central bank keeping policy accommodative to support the economy, which mainly influenced silver futures prices globally.
The contract for March delivery was trading at Rs 58446.00/ 1 KG, up by 0.42% or Rs 247.00 from its previous closing of Rs 58199.00/ 1 KG. The open interest of the contract stood at 20969 lots.
The contract for May delivery was trading at Rs 59800.00/ 1 KG, up by 0.39% or Rs 234.00 from its previous closing of Rs 59566.00/ 1 KG. The open interest of the contract stood at 2364 lots on MCX.
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