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Silver flat amid Fed policy outlook uncertainty

By Religare

Silver futures were trading little changed during noon trade in the domestic market on Monday as mixed jobs data from the US offered little clarity over the timing of a maiden US interest rate hike since 2006, keeping traders on the sidelines.

Non-farm payrolls in the US, climbed by 173,000 in August, compared to an upwardly revised 245,000 gain in July, and below expectations of a 217,000 rise. However, the unemployment rate fell to 5.1 per cent in August 2015 from 5.3 per cent in July 2015.


Silver, a non-interest bearing asset becomes less attractive in a rising interest rate scenario.

At the MCX, Silver futures for December 2015 contract is trading at Rs 34,408 per 1 kg, up by 0.06 per cent after opening at Rs 35,470, against the previous closing price of Rs 35,388. It touched the intra-day high of Rs 35,538. (At 12:55 PM).

Story first published: Monday, September 7, 2015, 23:00 [IST]
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