Copper Bulls rule the roost
18/08/2016 13:30
Copper futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper in the domestic spot market.
Further, easing worries over a Federal Reserve interest rate hike in September also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, copper futures for August 2016 contract is trading at Rs 321.4 per kg, up by 0.75 per cent, after opening at Rs 320, against a previous close of Rs 319. It touched the intra-day high of Rs 321.7. (At 13:02 PM).
18/08/2016 13:30
Further, easing worries over a Federal Reserve interest rate hike in September also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, copper futures for August 2016 contract is trading at Rs 321.4 per kg, up by 0.75 per cent, after opening at Rs 320, against a previous close of Rs 319. It touched the intra-day high of Rs 321.7. (At 13:02 PM).
