Silver rises on firm overseas cues
03/08/2016 08:57
Silver futures closed higher in the international market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend overseas as a weaker dollar bolstered the lure for the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus boosting silver demand. Further, soft US economic data raised speculation that the US Federal Reserve may hold off further tightening of interest rates in the near-term, bolstering the lure for silver as a store of value.
03/08/2016 08:57
Silver futures closed higher in the international market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend overseas as a weaker dollar bolstered the lure for the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus boosting silver demand. Further, soft US economic data raised speculation that the US Federal Reserve may hold off further tightening of interest rates in the near-term, bolstering the lure for silver as a store of value.
