As the latest Commitment of Traders (COT) data unveiled by the Commodity Futures Trading Commission on Friday, large speculators added to their bullish outlook in the Copper Futures markets this week. The non-commercial futures contracts of Copper futures, with a net position of 31,215 contracts, have been traded by large speculators and hedge funds.
Oil prices slipped on Monday but still held near 5-week highs, aided by strong US jobs data last week, while Price of Gold held steady near 2-week lows on Monday, with the dollar remaining supported by hopes of monetary tightening in the us following strong jobs data last week.
COMEX Gold edged up near 2-month high despite weak US dollar but failed to sustain amid a poor demand show in first quarter of the year. MCX Gold futures for Oct slumped from highs above Rs 28,800 per10 grams and closed around Rs 28,400 per 10 grams levels.
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