For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Silver Bulls dominate after dovish FOMC minutes

By Religare
|

Silver futures were trading on a bullish note during noon trade in the domestic market on Thursday as investors and speculators bolstered fresh positions in the precious metal after FOMC minutes suggested the case for a slight pushback in the policy tightening timetable in the US amidst weakness in inflation, bolstering the lure for the Bullion as a store of value.

While the Fed stressed that conditions which warrant rate tightening are approaching, policymakers are seeking more evidence of a pickup in economic growth and labour markets and need more confidence that inflation is moving towards the required goal, before deciding a lift-off in interest rates for the first time since 2006.

 

At the MCX, Silver futures for September 2015 contract is trading at Rs 35,805 per 1 kg, up by 0.78 per cent after opening at Rs 35,735, against the previous closing price of Rs 35,527. It touched the intra-day high of Rs 35,983 (At 12:51 PM).

Story first published: Thursday, August 20, 2015, 23:00 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more