Market Update

Market Watch

Wednesday, 19 February 2014

MCX Market: Gold and Silver Updates Today

Gold moves upward in early trade on Wednesday but remained near the highest level in more than three months as lingering worries about global economic growth burnished its safe haven appeal.

Gold eased 0.06 percent to $1,320.20 an ounce by 0012 GMT. It touched $1,332.10 an ounce on Tuesday, the strongest since October 31, before shedding some of the gains as investors booked profits from a three-day rally.

Silver for immediate delivery gained 0.5 percent to $22.0448 an ounce, the highest price since Nov. 6, before trading 0.7 percent lower at $21.7721.

MCX SILVERM April contract was trading at Rs 48225 down Rs 504, or 1.03 percent. The SILVERM rate touched an intraday high of Rs 48599 and an intraday low of Rs 48073. So far 2422 contracts have been traded. SILVERM prices have moved up Rs 5225, or 12.15 percent in the April series so far.

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