Mcx Silver Tips - Silver futures advanced during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal as minutes from the US Federal Reserve’s latest policy meet, released late on Wednesday warranted a gradual pace of interest rate hikes in the world’s biggest economy, bolstering the outlook for the bullion as a store of value.
A gradual pace of tightening will benefit silver, which loses sheen as interest rates rise.Fed Vice Chairman Stanley Fisher said that policymakers have done everything they could to prepare markets for a first rate hike in almost a decade.
At the MCX, Silver for December 2015 contract closed at 33,873 Rs per kg, up by 0.13 per cent, after opening at Rs 33,812, against the previous closing price of Rs 33,830. It touched an intraday high of Rs 33,950.
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