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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]
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