MTECHTIPS;-Copper Holds In Tight Range, Sentiments Supportive

MTECHTIPS;-Copper Holds In Tight Range, Sentiments Supportive

MTECHTIPS-Copper stayed in a tight range yesterday as latest recovery managed to hold amid supportive equities and speculative buying. Dow closed at a record as investors eyed the weekend passage of the Senate version of a sweeping overhaul of the US tax code. COMEX Copper is quoting at $3.09 per pound, up marginally on the day. MCX Copper futures ended around Rs 443 per kg amid some intrday selling. Large speculators advanced their net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 43,923 contracts in the data reported through Tuesday November 28th. This was a weekly surge of 3,310 contracts from the previous week. Speculative positions have edged up for a second week to the highest level in a month now. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -50,871 contracts on the week. This was a weekly fall of -4,958 contracts

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119