Flat trade in Silver as ECB eyed
19/01/2015 13:34
Silver futures were trading flat, with a negative bias, in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal ahead of a policy meeting of the European Central Bank (ECB) this week in which it may unveil a plan for purchasing sovereign bonds in a bid to stem the threat of prolonged deflation in the 19-member Euro area economy.
Silver, like Gold, tends to benefit from loose monetary policy measures, given that it is a hedge against the inflationary risk of monetary stimulus. The Euro area likely slid into deflation with annual consumer prices falling by 0.2 per cent in December, the first drop in more than five years.
At the MCX, Silver futures for March 2015 contract is trading at Rs 39,003 per kg, down by 0.15 per cent after opening at Rs 38,697, against the previous closing price of Rs 39,061. It touched the intra-day low of Rs 38,872. (At 13:15 PM).
19/01/2015 13:34
Silver futures were trading flat, with a negative bias, in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal ahead of a policy meeting of the European Central Bank (ECB) this week in which it may unveil a plan for purchasing sovereign bonds in a bid to stem the threat of prolonged deflation in the 19-member Euro area economy.
Silver, like Gold, tends to benefit from loose monetary policy measures, given that it is a hedge against the inflationary risk of monetary stimulus. The Euro area likely slid into deflation with annual consumer prices falling by 0.2 per cent in December, the first drop in more than five years.
At the MCX, Silver futures for March 2015 contract is trading at Rs 39,003 per kg, down by 0.15 per cent after opening at Rs 38,697, against the previous closing price of Rs 39,061. It touched the intra-day low of Rs 38,872. (At 13:15 PM).
