Friday, 27 March 2015

Commodity Market Update (Copper)

Precious metals on CMX are trading lower since morning as dollar regained some strength after the last day’s upbeat Jobless claims report from the world largest economy US. Actively traded Gold contract push from its recent pick and is trading in red at 1196.00, down 0.73% or 8.80 points while Silver future dropped around a percent or 16 cents to trade at 16.985 after having tested a low of 16.915 an ounce. Base metals are losing since morning after the last day’s sharp gain. LME Nickel tumbled 185 points or 1.36% to trade at 13420.00 while Copper is trading at 6123.00, down 295.50 points or half a percent after having tested a low of 6074.50, followed by rest of the counters which are down around a percent each. WTI Crude Oil sells off since morning after the last day’s steep gain on the back of geopolitical reason. Light sweet Crude Oil futures plunged around 2.5% or 1.24 points to trade at 50.18 while Natural Gas is losing 1.35% or 4 cents to trade at 2.63 per mmbtu.

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