Silver futures surge on safe haven appeal
13/06/2014 09:48
Silver futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a drop in equities boosted the safe haven demand for the bullion. Rising tensions in Iraq amid the risk of a civil war in the country boosted the safe haven appeal of the precious metal. Al -Qaeda militants seized control over Mosul, the country’s second biggest city and moved towards the Iraqi capital of Baghdad even as the Iraqi Oil Minister said that US planes may bomb northern Iraq. Gold futures for Silver 2014 contract, at MCX, closed at Rs. 41,251 per 10 grams, up by 1.59 per cent, after opening at Rs. 40,630, against the previous closing price of Rs 40,606. It touched an intra-day high of Rs 41,298.
13/06/2014 09:48
Silver futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a drop in equities boosted the safe haven demand for the bullion. Rising tensions in Iraq amid the risk of a civil war in the country boosted the safe haven appeal of the precious metal. Al -Qaeda militants seized control over Mosul, the country’s second biggest city and moved towards the Iraqi capital of Baghdad even as the Iraqi Oil Minister said that US planes may bomb northern Iraq. Gold futures for Silver 2014 contract, at MCX, closed at Rs. 41,251 per 10 grams, up by 1.59 per cent, after opening at Rs. 40,630, against the previous closing price of Rs 40,606. It touched an intra-day high of Rs 41,298.
