Silver Futures Trading with slim losses in Noon Trade

Mcx Silver tips - Silver futures were trading with slim losses in noon trade in the domestic market on Wednesday as investors and speculators adopted a cautious stance ahead of the release of the FOMC minutes later in the day in which policymakers from the US Federal Reserve, the world’s top central bank are likely to raise interest rates in December, for the first time in nearly a decade.Silver, a non-interest bearing asset tends to lose out in a rising interest rate scenario. US consumer prices rose for the first time in three months in October, a sign that inflation was nearing the US Federal Reserve’s goal, bolstering the case for the world’s top central bank to move ahead with a rate hike.

At the MCX, Silver for December 2015 contract closed at 33,680 Rs per kg, down by 0.08 per cent, after opening at Rs 33,600, against the previous closing price of Rs 33,707. It touched an intraday low of Rs 33,558.

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