Mcx commodity tips : Copper futures were trading down in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid fears that earlier than expected monetary tightening in the US may weigh on growth and curb the demand for copper in the world’s biggest economy.
At the MCX, Copper futures for June 2015 contract is trading at Rs 398.90/1 kg, down by 0.23 % after opening at Rs 399.50, against the previous closing price of Rs 399.80. It touched the intra-day low of Rs 398.30.
Gold traders seemed to be in bearish mood in the domestic market on Tuesday as investors continued to speculate over the timing of a maiden interest rate hike in the US since 2006.
Just a few days after Fed Chair Janet Yellen hinted at the possibility of a rate rise this year depending on the strength of economic data, Cleveland President Loretta Mester also stressed that improving employment growth and quickening inflation are pushing the world’s biggest economy to a point where it can withstand monetary tightening, curbing the appeal of gold as a store of value.
At the MCX, Gold futures for June 2015 contract is trading at Rs 27,124 per 10 gram, down by 0.14 per cent after opening at Rs 27,140, against the last ending price of Rs 27,161. It touched the intra-day low-lying of Rs 27,090.

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