Silver retreats ahead of US jobs data
07/05/2015 13:17
Silver futures fell in the domestic market on Thursday as investors and speculators exited positions in the precious metal amid caution ahead of Friday’s key US non-farm payrolls data which may show acceleration in job growth in the world’s biggest economy, bolstering the case for the Fed to start raising interest rates, curbing the lure for the bullion as a store of value.
American employers probably added 213,000 jobs in April, up from 126,000 in March.
At the MCX, Silver futures for July 2015 contract is trading at Rs 37,760 per 1 kg, down by 0.61 per cent after opening at Rs 38,025, against the previous closing price of Rs 37,992. It touched the intra-day low of Rs 37,686. (At 13:01 PM).
07/05/2015 13:17
Silver futures fell in the domestic market on Thursday as investors and speculators exited positions in the precious metal amid caution ahead of Friday’s key US non-farm payrolls data which may show acceleration in job growth in the world’s biggest economy, bolstering the case for the Fed to start raising interest rates, curbing the lure for the bullion as a store of value.
American employers probably added 213,000 jobs in April, up from 126,000 in March.
At the MCX, Silver futures for July 2015 contract is trading at Rs 37,760 per 1 kg, down by 0.61 per cent after opening at Rs 38,025, against the previous closing price of Rs 37,992. It touched the intra-day low of Rs 37,686. (At 13:01 PM).
