Silver futures continue upward journey
18/06/2014 09:13
Silver futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal as deepening unrest in Iraq where the military is struggling to hold off insurgency threats from Islamic militants brewed concerns over a fresh civil war in the war-torn Middle East nation, boosting the appeal of silver as a safe haven asset. Further, a rise in US consumer prices last month boosted the demand for silver, a hedge against inflation. US consumer price index climbed 0.4 per cent in May 2014 over the previous month. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,374 per 10 grams, up by 0.41 per cent, after opening at Rs. 42,097, against the previous closing price of Rs 42,204. It touched an intra-day high of Rs 42,448.
18/06/2014 09:13
Silver futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal as deepening unrest in Iraq where the military is struggling to hold off insurgency threats from Islamic militants brewed concerns over a fresh civil war in the war-torn Middle East nation, boosting the appeal of silver as a safe haven asset. Further, a rise in US consumer prices last month boosted the demand for silver, a hedge against inflation. US consumer price index climbed 0.4 per cent in May 2014 over the previous month. At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,374 per 10 grams, up by 0.41 per cent, after opening at Rs. 42,097, against the previous closing price of Rs 42,204. It touched an intra-day high of Rs 42,448.
