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Base Metal View / Commodity tips / Crude oil update / Crude Report and Tips for Today

Commodity Tips- Base Metals Copper and Crude oil future, MCX Gold prices

crude oil Copper futures ended on lower note on Wednesday, followed by unsatisfactory Chinese data on industrial output. Copper futures for December delivery plunged 0.35 to settle at USD 3.055 a pound on the Comex metals division of NY Mercantile Exchange, while on the LMX ended up 0.2% at USD 6,773 a metric ton

Sequentially, Gold futures dropped during the day in an up- and- down trade, though it primarily rose to the highest since October 20. The precious metal dragged near session lows as US dollar cut losses on inflation data. Gold futures for December delivery dropped USD 5.20 or 0.4% to settle at USD 1,277.70 per ounce on the Comex of the NY Mercantile, while, spot gold was down 0.2% at USD 1,277.51 an ounce.

Meantime, Crude oil futures carried on their weakness and slipped to their fresh 2- week low on Wednesday, after govt data showed a more modest build in U.S. oil stockpiles. Benchmark crude oil futures for Dec ember delivery ended lower by USD 0.37 or 0.7 5t at USD 55.33 a barrel on the NY Mercantile Exchange.