Improved Chinese Growth Pushes Copper’s Prices
The improved growth of China, together with easing monitoring policies of the American Federal Reserve have helped in boosting the prices of Copper. Today, the prices of Copper were seen escalating as its prices rose by Rs
1.25 to Rs 434.25 per kg in future trade.
It has emerged that increase in the demand of Copper in China has boosted its price. It has been reported that in the last three months, the prices of copper rose by 0.2% to USD 9,672 a ton on the London Metal Exchange.
Together with Copper, gold in the Indian market was seen swelling. It is believed that the prices of gold will escalate further as the overseas markets are appearing stronger. However, the gold dealers have said that strong rupee could delimit the further growth of gold.
It has come to light that in the month of August, gold was traded mostly on the Multi Commodity Exchange (MCX). On MCX it traded 0.20% higher at Rs 22,965 per 10 grams.
The yesterday incident of Zaveri Bazaar has lowered the trade of gold on the street. However, gold has hit a record high above $1,589 at overseas market. Moody’s analysts have warned that gold trade might be hit hard by the European crisis.
