Silver futures end tad lower on US data
27/06/2014 09:02
Silver futures ended tad lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal as robust US economic data dimmed the safe haven demand for the shiny metal.
US jobless claims fell last week while consumer spending rose in May, signaling strength in the US economy, raising bets that the Federal Reserve may continue the rollback of its monthly bond buying program, dimming the appeal of the precious metal, a hedge against the inflationary risk of monetary stimulus.
At the MCX, Silver futures for July 2014 contract closed at Rs. 44,636 per 1 kg, down by 0.04 per cent, after opening at Rs. 44,565, against the previous closing price of Rs. 44,653. It touched an intra-day low of Rs 44,173..
27/06/2014 09:02
Silver futures ended tad lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal as robust US economic data dimmed the safe haven demand for the shiny metal.
US jobless claims fell last week while consumer spending rose in May, signaling strength in the US economy, raising bets that the Federal Reserve may continue the rollback of its monthly bond buying program, dimming the appeal of the precious metal, a hedge against the inflationary risk of monetary stimulus.
At the MCX, Silver futures for July 2014 contract closed at Rs. 44,636 per 1 kg, down by 0.04 per cent, after opening at Rs. 44,565, against the previous closing price of Rs. 44,653. It touched an intra-day low of Rs 44,173..
