Last Updated : October 11, 2011 15:52
MCX copper down 1.81% on strong dollar, weak Europe outlook
MUMBAI (Commodity Online): MCX Copper weakened by 1.81% on Tuesday afternoon trade on account of a strong dollar and a weak European outlook.
MCX copper November is trading at Rs 360.40 after opening the day at Rs 366.10 while COMEX copper December is trading at $3.28, down 0.08%
-The dollar gained against major currencies like the Euro and the Pound. Stronger dollar has a general tendency to weaken dollar denominated commodities like copper.
-Jean Claude Trichet, the Chairman of the European Systemic Risk Board, said that the European debt contagion has become systemic and increased chances of an economic meltdown.
-Weak UK manufacturing activity for the month of August also dampened investor interest.
MCX COPPER MINI 29 June 2012
contract was trading at
Rs 403.85 , up Rs. 5.25 . What's your view on it?
