Copper, the leader of the base metals, declined almost 1 percent on Monday, as signs that the property market was cooling in China, the world’s largest metals consumer, has increased demand fears for industrial metals. The red metal touched an intra-day low of $7198/tonne and closed at the level of $7296/tonne yesterday. On the MCX, Copper February contract declined marginally by 0.1 percent as further fall was not witnessed due to Rupee depreciation on Monday.
While In Gold The most-active February gold contract on the Multi Commodity Exchange was 0.31% higher at Rs 27,777 per 10 grams by 4:58 pm. The contract had fallen 5.6% since the beginning of the month.
Crude Updates
Crude oil rose today, buoyed by the risk of supply being disrupted from Central Asian oil producer Kazakhstan; even as sanctions-hit Iran struggles to maintain its production and Libyan output is delayed.
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