Silver futures continue downward journey
01/07/2014 09:16
Silver futures ended lower in the domestic market on Monday as investors and speculators exited positions in the precious metal after a top US Federal Reserve official predicted a strong rebound in the world’s biggest economy, dimming the safe haven appeal of the bullion. Despite a sharp contraction in the first quarter due to a severe winter, the US economy is expected to grow at a pace of over 3 per cent for the rest of the year, Federal Reserve Bank of San Francisco President John Williams said. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,114 per kg, down by 0.93 per cent, after opening at Rs. 44,470, against the previous closing price of Rs 44,529. It touched an intra-day low of Rs 43,922.
01/07/2014 09:16
Silver futures ended lower in the domestic market on Monday as investors and speculators exited positions in the precious metal after a top US Federal Reserve official predicted a strong rebound in the world’s biggest economy, dimming the safe haven appeal of the bullion. Despite a sharp contraction in the first quarter due to a severe winter, the US economy is expected to grow at a pace of over 3 per cent for the rest of the year, Federal Reserve Bank of San Francisco President John Williams said. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,114 per kg, down by 0.93 per cent, after opening at Rs. 44,470, against the previous closing price of Rs 44,529. It touched an intra-day low of Rs 43,922.
