Silver futures rise after US jobless claims data
10/04/2015 12:09
Silver futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal after an uptick in US jobless claims last week added to evidence of a faltering labour market recovery in the world’s biggest economy, fuelling speculation that the US Federal Reserve may refrain from a rate hike in the near-term, bolstering the appeal of Silver as a store of value.
Unemployment claims rose by 14,000 to 281,000 last week.
At the MCX, Silver futures for May 2015 contract is trading at Rs 36,465 per 1 kg, up by 0.50 per cent after opening at Rs 36,444, against the previous closing price of Rs 36,283. It touched the intra-day high of Rs 36,570. (At 11:56 AM).
10/04/2015 12:09
Silver futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal after an uptick in US jobless claims last week added to evidence of a faltering labour market recovery in the world’s biggest economy, fuelling speculation that the US Federal Reserve may refrain from a rate hike in the near-term, bolstering the appeal of Silver as a store of value.
Unemployment claims rose by 14,000 to 281,000 last week.
At the MCX, Silver futures for May 2015 contract is trading at Rs 36,465 per 1 kg, up by 0.50 per cent after opening at Rs 36,444, against the previous closing price of Rs 36,283. It touched the intra-day high of Rs 36,570. (At 11:56 AM).
