- Crude palm oil futures were up by 0.75% to Rs 389.10 per 10 kg in futures trade today as speculators created fresh positions amid a firming trend at the spot markets on rising demand from consuming industries.Besides, tight supplies from major producing belts too supported crude palm oil futures.
- Copper prices inched up on Tuesday, but remained not far above the prior session’s six-year low as expectations of higher interest rates in the U.S., a broadly stronger U.S. dollar and slower global economic growth, especially in China, weighed. Meanwhile, three-month copper on the London Metal Exchange rose 0.87% to $4504.75 a metric ton. On Monday, prices hit $4508.50, the weakest level since June 2009.
- Gold inched up on Tuesday, but remained not far above the prior session’s five-and-a-half-year low as investors awaited the release of revised U.S. third quarter economic growth data later in the day for a fresh reading on the strength of the economy. Gold futures are down more than 6% so far this month amid mounting expectations the Fed will raise rates for the first time in nearly a decade at its mid-December meeting.
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