Zinc futures jumped over 1 per cent during evening trade in the domestic Market on Thursday as investors and speculators extended their positions in the industrial metal on weakness in the US dollar after the central bank raised interest rates by 25 bps however showed no signs of speeding up its pace of tightening.
The US Federal Reserve said in its policy statement that further hikes would only be gradual, with officials sticking to their outlook for 2 more rate hikes in 2017 and 3 more next year.
At the MCX, zinc futures for March 2017 contract is trading at Rs 185.80 per kg, up by 1.14 per cent, after opening at Rs 183.50, against a previous close of Rs 183.70. It touched the intra-day high of Rs 186.40.
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