Silver Posts Mild losses On Caution Ahead of jobs Data

Silver futures were trading lower during noon trade in the domestic market on Friday as investors and speculators took a cautious approach ahead of March jobs data from the US which may dictate the timing of the US Federal Reserve’s next interest rate hike.

The US economy may have added 205,000 jobs in March, down from 242,000 in February, analysts estimated.
 

A rise in jobless claims last week to the highest level in two months signaled a cooling US labour market recovery, further bolstering the case for the Fed to refrain from rate tightening at its upcoming policy meet this month.
 

At the MCX, Silver futures for May 2016 contract is trading at Rs 36,705 per kg, down by 0.13 per cent, after opening at Rs 36,704, against the previous closing price of Rs 36,751. It touched an intraday low of 36,701.
 

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