MCX Copper sees tight movement

COMEX Copper futures pulled back near one and half week low as sentiments were cautious as markets eyed clarity about global trade talks. The metal has been falling recently after a rally to $5 per pound and currently quotes at $4.80 per pound, down 0.19% on the day. Weakness in the US dollar capped the losses as the US dollar index sank to near three-year low under 98. Meanwhile, in Asia, Chinese Shanghai Composite index edged up marginally. Hong Kong's Hang Seng index tanked 1.36% after hefty gains in last few sessions. Japanese NIKEEI index fell 0.65%. European indices eased with German DAX losing around 1%. The US stocks eased modestly. The tech-heavy Nasdaq dipped 0.5 percent, the S&P 500 eased 0.3 percent and the Dow edged down very marginally on the day. MCX Copper futures are currently quoting at Rs 874 per kg, up 0.30% on the day in a tight session.

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