Silver futures were trading higher during noon trade in the domestic market on Friday tracking a bullish trend in the global market as the sharp losses in the previous session amid bets of a Fed rate hike in June, offered a good bargain buying opportunity, to traders, in the precious metal, at existing levels. New York Fed President William Dudley stressed that the world’s top central bank is moving closer to tightening interest rates at one of its two upcoming meetings while Richmond Fed’s Jeffrey Lacker also called for higher interest rates. 

Silver, a non-interest bearing asset, loses sheen during a rising interest rate scenario. 

                     At the MCX, Silver futures for July 2016 contract is trading at Rs. 39,910 per Kg, up by 0.22 per cent, after opening at Rs. 39,773, against a previous close of Rs 39,824. It touched the intra-day high of Rs. 39,945. (At 13:29 PM).

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