MCX Copper Nears Rs 650 Per Kg

29 Sep 2022 , 04:53 PM

COMEX Copper futures consolidated around one week high of $3.40 per pound with a sharp drop in European equities capping upside. European shares slipped with major indices tanking around 1.5% on the day. The red metal gained earlier amid mostly supportive cues from Asian indices. Chinese Shanghai Composite index fell marginally but the Japanese Nikkei 225 index gained 1% and other indices also saw good upside. The US stocks moved up impressively on excellent buying support after recent array of losses, boosting sentiments in Asia. However, the firm undertone in the US dollar index is now yet again hitting risky assets. MCX Copper futures are quoting at Rs 649.20 per kg, up 1.20% on the day after approaching near Rs 650 mark. Powered by Commodity Insights