Silver prices showed signs of recovery in international markets on November 2 after facing considerable selling pressure during the previous week. Spot silver gained around 1.2% to approximately $49.69 per ounce in early Asian trading, while platinum and palladium also moved higher.
However, the domestic market continued to show weakness in futures trading. MCX silver futures for December delivery were quoted around Rs.1,78,900 per kilogram, down approximately 0.13% in the early update reported by Moneycontrol.
The contrasting movement between international spot prices and domestic futures highlights the importance of tracking the market, contract and time of quotation when reporting bullion rates.
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