MCX Silver sees good intraday bounce, breaks above Rs 230000 per kg

COMEX Silver futures are witnessing steady gains amid Middle-East turmoil as soaring crude oil futures and good support for copper prices boosted the white metal. COMEX Silver futures are trading at $71 per ounce, up 1.70% on the day. MCX Silver futures carved out good gains too, edging up in a steady manner after a feeble opening. The metal dipped near 225800 per kg mark as Indian Rupee saw a spike of more than 100 paise in early moves against the US dollar. However, INR eased as the day progressed and NIFTY50 index continued to tank. MCX Silver rose consistently following this and currently trades at Rs 230800 per kg, up 1.25% on the day.

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