Commodity Market Update (Copper)

Gold and Silver are trading slightly lower on COMEX; the actively traded Gold futures is trading at $1791 lower by $5 while Silver is trading at $34.97 lower by 12 cents, prices on domestic bourses are trading positive. MCX Gold contract is trading u p by 150 points at Rs.31245.00 while Silver is trading higher by 300 points at Rs.62400.00. We expect prices to trade in a range for the day. Crude Oil is trading lower by 71 cents at $90.95 while Gas prices are at $3.41 up by 0.38% on NYMEX. Base metals are trading mixed on LME; three month Copper is trading lower by 0.17% at $8301.00 while MCX Copper is trading higher by half a percent at Rs.435.30. Base metals prices are likely to trade neutral with a negative bias for rest of the trading hours.