Commodity Market Update (Copper)

On CMX, precious metals were trading lower since morning and continued its last session’s losing momentum. At the time of writing this, the most actively traded Gold contract is trading in green at $1389.90, up $3.50 or 0.35% after having tested a low of $1368.70 while front month Silver futures eased -0.70% or 14 cents to trade at $19.69 as low as of $19.31 an ounce. Energy prices are trading higher after the last night’s sharp decline; Crude Oil trading at $95.56, up 42 cents or 0.45% and Natural Gas adding 0.50% or 2 cents to trade at $3.89 per mmBtu. LME base metals are trading mixed after the early morning’s sharp decline with Copper trading at $6809.25, higher by $36.25 and Nickel adding to $13777.0 per metric ton. On domestic front, commodities are trading lower since morning with the help of a stronger rupee against the dollar which appreciated by half a percent or 32 paise to 59.25 as we write this.