Silver hit by renewed Fed rate hike fears
19/08/2016 14:15
Silver futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the precious metal as fresh fears over a US interest rate hike in the near-term weighed on the appeal of the bullion as a store of value.
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 45,858 per kg, down by 0.51 per cent, after opening at Rs 45,978, against a previous close of Rs 46,094. It touched the intra-day low of Rs 45,763. (At 14:05 PM).
19/08/2016 14:15
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 45,858 per kg, down by 0.51 per cent, after opening at Rs 45,978, against a previous close of Rs 46,094. It touched the intra-day low of Rs 45,763. (At 14:05 PM).
