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Weekly Silver Review: MCX Futures Off Three Month Low
(16-Mar-2019, 16:29 Hours IST)
COMEX Silver futures edged up amid a supportive undertone in the global Gold market last week. The white metal witnessed a sharp fall, testing one week low near $15.10 per ounce before some buying emerged in the commodity. The metal ended around $15.30 per ounce levels. Silver demand from India has been supportive in recent months as prices have been fairly attractive for retail investors. With the recent burst of strength in Indian Rupee, the local spot prices are likely to stay well under the key Rs 40000 per kg levels, turning attractive for buyers. The MCX Silver futures ended at Rs 38100 per kg levels on 15th March 2019, up half a percent on the day. Prices had tested a three month low under Rs 38000 per kg last week before finding some support.

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