We are now on face book . Dear viewers we request you to like our page and if any queries you cld ask us there . we will get back .
We are now on Twitter


Follow us on Twitter to get the latest updates


If you need any technical support you can Tweet to us at


Saturday, September 13, 2008

COMMENTARY

UPDATE

U.S. copper futures rose in early business on Friday as the

dollar fell following a negative U.S. retail sales result and a decline

in the producer price index, traders said.

Copper for December delivery HGZ8 was up 5.00 cents at $3.1725

a lb on the New York Mercantile Exchange's COMEX division.


* The range extended up to a week high of $3.20 from a low of

$3.1215 an ounce.
* Spot September HGU8 gained 5.15 cents to $3.1860 a lb.

* Copper added to early gains after the dollar declined following

a drop in U.S. August retail sales and a drop in the producer price index - traders.


* U.S. retail sales fell 0.3 percent in August, the biggest drop since

December 2007, and follows a downwardly revised July decline of

0.5 percent. Analysts' consensus forecasts came to a rise of 0.2 percent

for August. Excluding autos, sales dropped 0.7 percent.

The U.S. August producer price index dropped 0.9 percent more

than forecasts for a 0.5 percent decline. In July, the PPI jumped 1.2 percent.

No comments: