MCX Copper- Likely to Continue its Bullish trend

Copper gained on the Multi Commodity Exchange (MCX) tracking the firm global cues. The G-20 summit fuelled investor sentiments and prices touched Rs.380 per kg, hitting a high of Rs.380.85 per kg. The prices are expected to test Rs 381.80-382.10 levels during the session today. Finance leaders from the Group of 20 economies have pledged to move towards market-determined exchange rates and commit to a full range of policies to reduce excessive external imbalances. The decision buoyed the market sentiment and most metals including Copper rallied on commodity bourses today. On the COMEX division of NYMEX, Copper futures got closer to a two and half year high, topping USD 3.8800 per pound and currently quoted at USD 3.8755, up 7.85 cents or 2.05% on the day.

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