Friday, July 19, 2013

Copper rises by 0.5% on global cues, spot demand @ MCX TRADING SURE SHOT CALLS TODAY

MCX CopperCommodity Copper:- Supported by a firm global trend and increased domestic demand, copper prices rose by 0.46% to Rs 417.45 per kg in futures trade today. At the Multi Commodity Exchange, copper for delivery in August traded higher by Rs 1.90, or 0.46%, to Rs 417.45 per kg in business turnover of 3,888 lots. The metal for delivery in November edged up by Rs 1.95, or 0.46%, to Rs 424.25 per kg in 273 lots. Globally, copper for delivery in three months rose 0.90% to $6,970 a tonne on the London Metal Exchange, while at Shanghai Futures Exchange, it gained 0.60% to 49,970 yuan ($8,138) a tonne. Market analysts said besides increased demand from consuming industries, a firm overseas trend after a Federal Reserve report showed a bigger-than-expected gain in regional US manufacturing, signalling improved demand prospects for the metals, mainly influenced copper prices at futures trade here.
Posted by business-standard  

MCX Trading Calls 
@ Sell MCX Gold August contract near to 26650 Targets 26610, 26570 Stop Loss 26720.

@ Sell MCX Silver within September contract near 40250 Targets 40150, 40050 Stop Loss 40400.


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