Thursday, 8 September 2016

Live Commodity News: Gold & Copper

Gold futures edged higher on MCX on a weaker dollar, with
investors looking to the outcome of a European Central Bank policy meeting later in the day for signs of economic stimulus.

The contract for October delivery was trading at Rs 31375.00, up by 0.22% or Rs 70.00 from its previous closing of Rs 31305.00.The open interest of the contract stood at 8984.00 lots.

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Copper futures traded lower on MCX as investors stayed on the sidelines ahead of the ECB policy meet later in the session with hopes that the Frankfurt-based central bank may boost QE as it cuts growth forecasts for the Euro area. Meanwhile, a mixed bag of Chinese trade data signaled uncertainty over the demand outlook for copper from the world’s biggest metals consuming nation as Chinese exports fell 2.8 percent, year-on-year in August 2016 but imports climbed 1.5 percent.


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