COMMODITY MARKET UPDATE: BASE METALS TRADE HIGHER

On MCX, Commodity prices traded mixed with energy segment opened negatively while all the base metals traded on positively in early morning trade. Copper Feb future gained above 1% .Zinc is trading nearly 1% at Rs. 216.95. Copper prices rose again with investors weighing prospects for a fast-tracked stimulus package in the US.

The metal has rallied on hopes that economic stimulus in the US will further boost demand, and underpinned by decade-low China stocks.

Gold prices continued their upside on US stimulus hopes after Democrats released the first draft of the key legislation, including President Joe Biden's COVID-19 relief bill.