COMEX Copper futures regained lost momentum during early Asian hours and surged through the day to hit fresh highs. The red metal gained support from weakness in dollar overseas although muted equities limited gains. Currently, COMEX copper is quoting at $4.30 per pound, up 0.65% on the day whereas dollar index is trending below 104 mark. Focus now turns on the upcoming March minutes, inflation report and speeches from Federal Reserve officials to gauge the potential rate-cut timetable. Further, base metals speculators continued to cut their net long positions in the Copper futures market last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The net longs are at a three week low.
Powered by Commodity Insights
FOR GRIEVANCE MAIL TO invgrieviss@iseindia.com
BSE EQUITIES : INB011077733 | NSE F&O EQUITIES : INF231077737 | NSE CASH MARKET : INB231077737 | NSE CURRENCY DERIVATIVES : INE231077737 | MCX-SX : INE261077737
ISS Enterprise Limited [Erstwhile: ISE Securities & Services Limited], a wholly owned subsidiary of Inter-connected Stock Exchange of India Ltd. (ISE)
© 2013 ISS Enterprise Limited [Erstwhile: ISE Securities & Services Limited]. All rights reserved.
Designed, developed & powered by C-MOTS Infotech (ISO 9001:2008 certified)
