Commodity Tips | Copper prices rose by 2.62% on Thursday after US new home sales rose e the housing sector and supporting the case for higher interest rates which raised the demand outlook for the metal. The US Commerce Department said new home sales rose by 10.7 per cent to a seasonally adjusted 495,000 units last month, compared to expectations for a gain of 6.0 per cent to 500,000.
At the MCX, copper futures for November 2015 contract were trading at Rs.308 per 1 kg, up by 2.62 per cent, after opening at Rs. 300.45 against the previous closing price of Rs. 300.15. It touched the intra-day high of Rs. 311.05 till the trading. (At 11.27 AM today).
At the MCX, copper futures for November 2015 contract were trading at Rs.308 per 1 kg, up by 2.62 per cent, after opening at Rs. 300.45 against the previous closing price of Rs. 300.15. It touched the intra-day high of Rs. 311.05 till the trading. (At 11.27 AM today).
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