Silver higher as investors eye US jobs data
06/05/2015 12:14
Silver futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal ahead of US private payrolls data which may show a pickup in job growth in the world’s biggest economy in April, boosting the case for the US Federal Reserve to proceed with monetary tightening in 2015, dimming the appeal of Silver as a store of value.
American private employers likely added 200,000 jobs in April, up from 189,000 in March, ADP may report on Wednesday.
At the MCX, Silver futures for July 2015 contract is trading at Rs 38,144 per 1 kg, up by 0.49 per cent after opening at Rs 37,969, against the previous closing price of Rs 37,958. It touched the intra-day high of Rs 38,195. (At 12:03 PM).
06/05/2015 12:14
Silver futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal ahead of US private payrolls data which may show a pickup in job growth in the world’s biggest economy in April, boosting the case for the US Federal Reserve to proceed with monetary tightening in 2015, dimming the appeal of Silver as a store of value.
American private employers likely added 200,000 jobs in April, up from 189,000 in March, ADP may report on Wednesday.
At the MCX, Silver futures for July 2015 contract is trading at Rs 38,144 per 1 kg, up by 0.49 per cent after opening at Rs 37,969, against the previous closing price of Rs 37,958. It touched the intra-day high of Rs 38,195. (At 12:03 PM).
