Silver futures ease after bullish US data
30/06/2014 09:05
Silver futures closed lower in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as bullish US consumer sentiment data signaled a pickup in the world’s biggest economy, raising speculation that the US Federal Reserve may start raising borrowing costs earlier than previously anticipated, dimming the appeal of silver as a store of value. All eyes will be on the US pending home sales data to be released today which may offer further cues over the health of the US economy. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,529 per kg, down by 0.24 per cent, after opening at Rs. 44,758, against the previous closing price of Rs 44,636. It touched an intra-day low of Rs 44,422.
30/06/2014 09:05
Silver futures closed lower in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as bullish US consumer sentiment data signaled a pickup in the world’s biggest economy, raising speculation that the US Federal Reserve may start raising borrowing costs earlier than previously anticipated, dimming the appeal of silver as a store of value. All eyes will be on the US pending home sales data to be released today which may offer further cues over the health of the US economy. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,529 per kg, down by 0.24 per cent, after opening at Rs. 44,758, against the previous closing price of Rs 44,636. It touched an intra-day low of Rs 44,422.
