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As on Aug 23, 2017 12:00 AM Your results on : End Session    
Copper On Placid Pitch This Time
23-Aug-2017 (18:33)

Copper is up 19% year to date and and up 4.1 percent since the start of August. Copper futures rose above $3 a pound for the first time since November 2014. copper, used in manufacturing and construction, has been rising on momentum and bullishness for the global economy. Analysts say copper can go higher as more speculators jump in, but it is getting overextended with a 19 percent gain year-to-date.

In International markets, Futures for September delivery reached a high of $3.0015 per pound, their highest since November 2014. The metal has also seen its value surge 3.5 percent this month, putting it on track to post its longest monthly winning streak since last year. Economic performance around the world has been stellar this year.

The Eurozone economy grew 2.5 percent for the second quarter on an annualized basis, In Japan, second-quarter gross domestic product rose 4 percent on an annualized basis, easily topping expectations. Copper has also gotten a boost lately from a weaker USD.

Indian Copper was silent in evening trades as traders were booking some profits. The prices were at Rs 420 per kg, down 0.38%. The metal tested a high of Rs 423 per kg and a low of Rs 419.7 per kg.

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