The Profitable Commodity Tips says the base metal in the global market has come down heavily. Copper prices on the London Metal Exchange have come down to the 11-month low, while Zinc has touched one year's low level. Lead and Nickel are also trading at the lowest level of 2 months. Due to lack of demand due to a trade war and increasing storage in the London Metal Exchange warehouses, pressure on prices has increased.
On the OPEC, crude oil crude has dropped sharply today. Brent has slumped nearly 1 percent. In fact, Trump has tweeted yesterday that OPEC has reduced the price of crude oil. There is a break in the gold market in the global market too. Silver is also under pressure. Today the rupee has a weakness of about 0.25 percent compared to the dollar. The dollar has crossed Rs 68.80.
With the fall in crude oil in the global market, the business is getting to see. WTI Crude on NYMs slipped 0.3 percent and trading below $ 74. Brent Crude is trading below $ 78.
There is an increase in gold. Gold is trading at $ 1,257.3 with a rise of 0.3 percent on the commerce. Silver is trading at $ 16.1 with a rise of 0.5 percent.
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