Silver futures rally on Fed hopes
03/07/2014 09:30
Silver futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as the US Federal Reserve re-affirmed its commitment to keep borrowing costs at very low levels, bolstering the demand for the bullion as a store of value. Fed Chairman Janet Yellen stressed that there was not need to change the current monetary policy. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,715 per kg, up by 0.94 per cent, after opening at Rs. 44,356, against the previous closing price of Rs 44,298. It touched an intra-day high of Rs 44,900.
03/07/2014 09:30
Silver futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as the US Federal Reserve re-affirmed its commitment to keep borrowing costs at very low levels, bolstering the demand for the bullion as a store of value. Fed Chairman Janet Yellen stressed that there was not need to change the current monetary policy. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,715 per kg, up by 0.94 per cent, after opening at Rs. 44,356, against the previous closing price of Rs 44,298. It touched an intra-day high of Rs 44,900.
