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MCX Silver July Futures Extend Losses in Friday Trade
Silver prices declined sharply in futures trade on Friday, with traders reducing their positions amid profit-booking and cautious market sentiment, leading to a fall in contracts on the Multi Commodity Exchange (MCX).
Silver prices fell in futures trading on Friday as market participants reduced their bets, triggering a decline in bullion contracts.
On the Multi Commodity Exchange, silver contracts for July delivery dropped by Rs 1,322, or 0.49 per cent, to Rs 2,68,215 per kilogram.
The decline was recorded in a business turnover of 749 lots, indicating active trading activity in the precious metals segment.
According to market analysts, the fall was largely driven by profit-booking and a sell-off by traders who trimmed their positions amid prevailing market conditions.
Silver Futures Snapshot
| Particulars | Value |
|---|---|
| Contract | Silver July Futures |
| Exchange | MCX |
| Current Price | ₹2,68,215 per kg |
| Change | ▼ ₹1,322 |
| Percentage Change | ▼ 0.49% |
| Turnover | 749 Lots |
Silver prices, like gold, are influenced by a combination of factors including industrial demand, global economic trends, currency movements, interest rate expectations, and investor sentiment in international commodity markets.
Analysts noted that while short-term corrections are common, traders will continue to monitor global precious metal trends, economic data releases, and geopolitical developments for further price direction.