White metal loses shine on global cues

White metal loses shine on global cues

07/03/2017 15:48

Silver futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal on subdued safe-haven demand on hopes of a US Fed interest rate hike in March and ahead of the key economic data due later in the week.

The US monthly jobs report due to be released on Friday. Investors are expecting that the US Federal Reserve will raise interest rates at its upcoming policy meeting on March 14-15.

At the MCX, silver futures for May 2017 contract is trading at Rs 42356 per kg, down by 0.17 per cent, after opening at Rs 42475, against a previous close of Rs 42429. It touched the intra-day low of Rs 42305 (at 15:50 hours).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s