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Silver Market Updates for 9 March 2017

Silver Market Updates for 9 March 2017

Silver futures were trading lower during evening trade in the domestic market on Thursday as investors & speculators exited their positions in the precious metal on diminishing safe-haven desired due to an uptick in the US dollar ahead of the US non-farm payrolls data on Friday.

Traders keenly eyed the February non-farm payrolls data tomorrow as a barometer of the US economy after Fed Chair Yellen said last week that the central bank was poised to lift rates provided jobs & inflation data held up.

At the MCX, silver futures for May 2017 contract is trading at Rs 41192/kg, downward by 0.57 %, after opening at Rs 41331, against a last close of Rs 41430. It touched the intra-day low of Rs 41131.

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