Gold Silver Reports- Copper is on a run that’s set to be the best in almost 30 years. The metal is on course for the longest winning streak since 1989, topping $7,300 a metric ton in London, on optimism about increased demand, supply disruptions in China and a weaker dollar.
Copper Report
Copper Supported On Economic Momentum
Gold Silver Reports — The COMEX Copper futures hit their five month highs near $2.75 per pound amid supportive cues from equities and strong economic momentum.
Copper MCX Intraday Trading Zone Between 358-378
Gold Silver Reports — Technically Copper market is getting support key at 362 and below same could see a test of 358 level, And resistance key is now likely to be seen at 372, a move above could see prices testing 378.
Copper in Surplus of 335000 Tonnes as Per WBMS
Gold Silver Reports — Copper was sideways in the evening trades on MCX unchanged by the surplus in world markets.
Copper MCX Upside Resistance 388 Sell on Rise
Gold Silver Reports — Technically MCX Copper market is under long liquidation as market has witnessed drop in open interest by -0.94% to settled at 11840 while prices down -1.1 rupees.
Copper Gains Sharply On Short Covering
Gold Silver Reports — Deprived Copper showed confidence marking gains of 1.66% in the session gone by. At the time of closing Copper was at Rs 385.25 per kg. On the higher side, Rs 385.60 per kg was noted while on the lower side, Rs 377.35 per kg was tested.
Copper Speculative Longs Near Five Month Low
Gold Silver Reports — Copper Speculative Longs Near Five Month Low — Large speculators and traders continued to cut their net positions in the copper futures markets last week for a sixth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.