Market Pearl

Silver is Slightly up Silver prices rose by 0.75% to Rs 46,119 per kg in futures trade today largely in tune with a firming trend in precious metals overseas amid covering-up of short positions by speculators. At the Multi Commodity Exchange, the July contract traded higher by Rs 342, or 0.75%, to Rs 46,119 per kg in business turnover of 636 lots. Gold is on one week high value   Spot gold had risen $1.15 an ounce to $1,463.65 by 0025 GMT, having posted its biggest weekly gain in three months last week. Gold plunged to around $1,321 on April 16, its lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls. U.S. gold for June delivery stood at $1,463.20 an ounce, up $9.60.

Gold Live News Gold edged up on Wednesday as recent stimulus measures by central banks supported bullion's appeal as a hedge against inflation, although a firm dollar and a shift in investor focus to the euro zone debt crisis capped gains. Moves by the European Central Bank and the Federal Reserve to ease monetary policy propelled gold to a 6-1/2-month high near $1,790 an ounce last week, but failed to send it above the key $1,800 level as investors looked for fresh stimulant. Spot gold inched up 0.2 percent to $1,763.36 an ounce by 0353 GMT. U.S. gold traded nearly flat at $1,766. Beyond the immediate consolidation, gold is expected to draw more interest as investors seek a hedge against loose monetary policies that create a low interest rate environment and raise inflation outlook. Silver Live Updates Silver prices rose by Rs 176 to Rs 64,188 per kg in futures trading today on increased buying by speculators on higher global trend. At the Multi Commodity Exchange, silver for de...