Overseas cues drag white metal down by 0.60%
19/08/2016 13:04
Silver futures were trading lower during the afternoon trade in the domestic market on Friday as participants trimmed their positions amidst tracking weak cues from overseas markets.
Further, the fall in prices for silver was in-line with a weak trend overseas as the dollar rebounded amid fresh worries over a near-term US rate hike as Federal Reserve Bank of San Francisco President John Williams stressed that the world’s biggest economy is strong enough to warrant a rise in interest rates soon, warning against waiting too long which could spur high inflation or asset bubbles that may curb growth.
At the MCX, silver futures for September 2016 contract is trading at Rs 45,816 per kg, down by 0.60 per cent, after opening at Rs 45,978, against a previous close of Rs 46,094. It touched the intra-day low of Rs 45,775 (at 13:01 hours).
19/08/2016 13:04
Further, the fall in prices for silver was in-line with a weak trend overseas as the dollar rebounded amid fresh worries over a near-term US rate hike as Federal Reserve Bank of San Francisco President John Williams stressed that the world’s biggest economy is strong enough to warrant a rise in interest rates soon, warning against waiting too long which could spur high inflation or asset bubbles that may curb growth.
At the MCX, silver futures for September 2016 contract is trading at Rs 45,816 per kg, down by 0.60 per cent, after opening at Rs 45,978, against a previous close of Rs 46,094. It touched the intra-day low of Rs 45,775 (at 13:01 hours).
