Currently, copper futures higher by 6%
Goldbully
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Start diiggin' out those wheaties.....it's time to sell!!!! 
Monday June 23, 02:56 AM Copper futures higher by 6%, platinum contract makes a strong debut
By Commodities Bureau
All the major bullion and base metals futures on the MCX platform on the week ended on Friday firmed up further on firm overseas markets. The base metals market has seen renewed buying interest by funds in the last few days on the back of a softer dollar, record oil prices, and supply disruptions of copper from Peru. Crude oil futures traded range bound on lack of continued fresh buying. Platinum futures debuted on the MCX on Friday.
On the day of launch, the platinum September contract resumed at Rs 28,450 and finally closed higher at Rs 28,629 per 10 grams. The contracts clocked a turnover of Rs 97.92 crore with a volume of 344 kg and an open interest of 51 kg.
The active copper June contract was traded 6% higher at Rs 360.95 per kg, up by Rs 21 over the previous week. The open interest was 15,375 tonne and volume was 15,833 tonne. Copper prices in the coming week are expected to rise as Chinese demand is expected to pick up in the second half of 2008 and this will bring in buying interest from the giant consumer, analyst said.
The active August gold contract was 3.6% higher at Rs 12,563 per 10 gram, up by Rs 448 per 10 gram over the previous week, as concerns over global economies and a decline in South African gold production lifted prices for the precious metal past $900 an ounce. Total volume was 16,294 kg. Open interest was 9,003 kg. On the international front, spot gold is meeting with stiff resistance at $920 levels, where as support is seen at $870 and then at $848 an ounce levels. MCX August Gold support stands at Rs 12,210/11,860 and resistance at Rs 12,760/12,960 per 10 gram, an analyst with Angel Commodities said.
The active silver July contract was traded higher 5% at Rs 24,609 per kg, up by Rs 1,170 over the previous week. The open interest was 175 tonne and volume was 277 tonne. Crude oil prices remain highly volatile amidst high speculation on rise in supply from Saudi Arabia.
Linky
Monday June 23, 02:56 AM Copper futures higher by 6%, platinum contract makes a strong debut
By Commodities Bureau
All the major bullion and base metals futures on the MCX platform on the week ended on Friday firmed up further on firm overseas markets. The base metals market has seen renewed buying interest by funds in the last few days on the back of a softer dollar, record oil prices, and supply disruptions of copper from Peru. Crude oil futures traded range bound on lack of continued fresh buying. Platinum futures debuted on the MCX on Friday.
On the day of launch, the platinum September contract resumed at Rs 28,450 and finally closed higher at Rs 28,629 per 10 grams. The contracts clocked a turnover of Rs 97.92 crore with a volume of 344 kg and an open interest of 51 kg.
The active copper June contract was traded 6% higher at Rs 360.95 per kg, up by Rs 21 over the previous week. The open interest was 15,375 tonne and volume was 15,833 tonne. Copper prices in the coming week are expected to rise as Chinese demand is expected to pick up in the second half of 2008 and this will bring in buying interest from the giant consumer, analyst said.
The active August gold contract was 3.6% higher at Rs 12,563 per 10 gram, up by Rs 448 per 10 gram over the previous week, as concerns over global economies and a decline in South African gold production lifted prices for the precious metal past $900 an ounce. Total volume was 16,294 kg. Open interest was 9,003 kg. On the international front, spot gold is meeting with stiff resistance at $920 levels, where as support is seen at $870 and then at $848 an ounce levels. MCX August Gold support stands at Rs 12,210/11,860 and resistance at Rs 12,760/12,960 per 10 gram, an analyst with Angel Commodities said.
The active silver July contract was traded higher 5% at Rs 24,609 per kg, up by Rs 1,170 over the previous week. The open interest was 175 tonne and volume was 277 tonne. Crude oil prices remain highly volatile amidst high speculation on rise in supply from Saudi Arabia.
Linky
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Comments
Ray
<< <i>What currency is Rs? Ray >>
rubles you silly comrad
Spot price of copper is about $3.80 per lb and rising.
Melt profit equals $2.35 per lb.
Its the cheapest source of copper outside of stealing.