In current trading session base metals prices pared all their gains to end with losses of anywhere between half to two percent. Because of Comments by the German minister that there would not be any definite solution reached in the October 23 meeting weighed on the euro and thereby on the metal prices as well.
Second thing US industrial production numbers came largely in line with expectation while the empire manufacturing numbers pointed a dismal picture about the activity. US equity markets tumbled and ended lower with losses of more than two percent as concerns about the euro reemerged. Taking cues most of the Asian equity markets are trading lower with cuts of anywhere between one to three percent.
Apart for that Chinese GDP numbers came in lower than expected at 9.1 percent for the third quarter while the retail sales witnessed some improvement. Euro is trading with marginal down fall. Copper prices declined by 0.6 percent on LME and all most 1 percent on Indian Commodity because of Euro trading & LME Under pressure trading.
For Stop your loss & Commodity Tips - Click Here & get commodity tips on mobile.
