Silver futures edge higher on ECB stimulus hopes
27/05/2014 09:24
Silver futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal after the European Central Bank (ECB) signaled that it was ready to take further action next month to boost inflation in the 18-member Euro area economy, bolstering the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. “What we need to be particularly watchful for at the moment is, in my view, the potential for a negative spiral to take hold between between low inflation, falling inflation expectations and credit, in particular in stressed countries,” Draghi said. At the MCX, Silver futures for July 2014 contract closed at Rs. 41183 per 1 kg, up by 0.95 per cent, after opening at Rs. 40861, against the previous closing price of Rs. 40797. It touched an intra-day high of Rs 41230.
27/05/2014 09:24
Silver futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal after the European Central Bank (ECB) signaled that it was ready to take further action next month to boost inflation in the 18-member Euro area economy, bolstering the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. “What we need to be particularly watchful for at the moment is, in my view, the potential for a negative spiral to take hold between between low inflation, falling inflation expectations and credit, in particular in stressed countries,” Draghi said. At the MCX, Silver futures for July 2014 contract closed at Rs. 41183 per 1 kg, up by 0.95 per cent, after opening at Rs. 40861, against the previous closing price of Rs. 40797. It touched an intra-day high of Rs 41230.
