Copper
prices declined by 0.26 per cent to Rs 363.10 per kg in futures
market today as speculators locked-in gains at prevailing levels even
as the metal strengthened overseas.
Besides,
low demand at spot markets from consuming industries put pressure on
prices.
At
the Multi Commodity Exchange, copper for delivery in April fell by 95
paise, or 0.26 per cent, to Rs 363.10 per kg in a business turnover
of 93 lots.
Similarly, the metal for delivery in February traded lower by 85 paise, or 0.23 per cent, to Rs 358.65 per kg in 1,013 lots.
Similarly, the metal for delivery in February traded lower by 85 paise, or 0.23 per cent, to Rs 358.65 per kg in 1,013 lots.
Globally,
copper for delivery in three months climbed 1.7 per cent to USD 5,745
a metric tonne at the LME in yesterday's trade on speculation that
reduced production at a BHP Billiton mine in Australia will mean a
smaller global surplus.
Gold
extended gains to a second straight session on Thursday
Spot
gold rose 0.3 per cent to $1,215.93 an ounce by 0240 GMT. The metal
closed up 0.3 per cent on Wednesday, after dropping to a six-week low
of $1,197.56 earlier in the session
Gold's
failure to hold losses below $1,200 could mean some consolidation was
in the offing, said some chart analysts.
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