Silver Futures Jump Amid Global Trends and Iran-US Talks
Silver futures rose in value as investors tracked firm global trends and optimism about industrial demand. The price increase was also influenced by anticipation of key US economic data that could provide clues on the Federal Reserve's interest rate trajectory.
The September delivery silver futures contract jumped by Rs 2,670 to Rs 2.19 lakh per kg, a gain of 1.23% from Monday's closing level of Rs 2,16,746 per kg. Renisha Chainani, Chief Research Officer at Augmont, noted that investors were weighing conflicting signals over possible talks between Washington and Tehran.
According to Chainani, the market is also awaiting a run of US labour market reports this week for clues on the Federal Reserve's rate path. Meanwhile, US President Donald Trump stated that discussions with Iran were underway, calling it a 'last chance' for Tehran to accept a deal ending the five-month war.