Silver down on strong US job data
08/08/2016 08:59
Silver futures closed lower in the domestic market on Friday after data showed the U.S. economy created more jobs than expected in July, raising the probability of an interest rate hike from the Federal Reserve in the coming months. Stocks also vaulted up after the employment report was released, signaling fading demand for havens and a spike in risk appetite. At the MCX, Silver futures for September 2016 contract closed at Rs 46,161, per 1 kg, down by 3.18 per cent after opening at Rs 47,605, against the previous closing price of Rs 47,677. It touched the intra-day low of Rs 46,154.
