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The silver rate on Sunday morning was trading up 1.80 percent at Rs 57,670 per kilogram against its closing price in the last session, according to MCXindia.com.
The rate of copper was at Rs 653 per kg, an increase of 0.96 per cent, from its last trade price. Experts say the lockdown in China, the world’s top consumer of copper, following a surge in Covid-19 cases, has weakened demand for the metal. Due to Dhanteras, silver prices across the country are getting stronger. Copper prices are mostly influenced by global prices however, copper is also trading in the green territory on Sunday morning.
Aluminum traded in the negative territory, down 0.28 percent at Rs 197/kg.
Lead was trading 5.90 percent down on MCXIndia.com at Rs 178.20 per kilogram while zinc rates for 1 kilogram were down 0.86 percent to Rs 270.80 on Sunday morning.
On Friday, London copper slipped as fears of another interest rate cut by the US Federal Reserve in November offset a solid demand outlook, Reuters said.
Three-month copper on the London Metal Exchange was down 0.8 percent at $7,503.50 a tonne by 0458 GMT, reversing Thursday’s gains, Reuters reported.
According to Reuters, South American zinc and copper producer Nexa Resources expected tight supplies of zinc metals worldwide due to smelter closures in Europe as energy prices soar, a situation that strengthens overall prices.
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