Delayed US rate hike hopes lift Silver
08/04/2015 12:46
Silver futures rose in the domestic market on Wednesday amid speculation that the US Federal Reserve may refrain from raising interest rates for a while yet, bolstering the appeal of the bullion as a store of value.
Federal Reserve Bank of Minneapolis president Narayana Kocherlakota urged the Fed not to raise interest rates until the second half of next year amidst below target inflation; and a cooling labour market recovery.
However, a stronger dollar curbed the demand for the precious metal as an alternative asset, trimming gains in Silver futures.
At the MCX, Silver futures for May 2015 contract is trading at Rs 37,720 per 1 kg, up by 0.09 per cent after opening at Rs 37,718, against the previous closing price of Rs 37,687. It touched the intra-day high of Rs 37,840. (At 12:29 PM).
08/04/2015 12:46
Silver futures rose in the domestic market on Wednesday amid speculation that the US Federal Reserve may refrain from raising interest rates for a while yet, bolstering the appeal of the bullion as a store of value.
Federal Reserve Bank of Minneapolis president Narayana Kocherlakota urged the Fed not to raise interest rates until the second half of next year amidst below target inflation; and a cooling labour market recovery.
However, a stronger dollar curbed the demand for the precious metal as an alternative asset, trimming gains in Silver futures.
At the MCX, Silver futures for May 2015 contract is trading at Rs 37,720 per 1 kg, up by 0.09 per cent after opening at Rs 37,718, against the previous closing price of Rs 37,687. It touched the intra-day high of Rs 37,840. (At 12:29 PM).
