The lack of progress in raising U.S. debt ceiling by a looming early August deadline boosted the investor's concern that the world's largest economy may default which led the base metals to trade sideways and enhancing demand for safe haven assets. The greenback fell against the euro on the back of fall in U.S. Treasuries due to raising uncertainties in the U.S. economy. Dollar Index, benchmark measure against a basket of 6 major currencies, was 0.18% lower at 74.11 compared to the previous day that ended at 74.24. In the domestic market, all the metals were trading marginally lower but Aluminium held its ground and was tad higher at Rs 114.45 and Nickel tumbled down by 0.57% or Rs 6.1, at Rs 1058.4 per kg. Other metals such as Zinc was seen at Rs 107.85 per kg, down 1.15% and Lead was seen at Rs 118.65 per kg, down 0.71%. Copper for delivery in August tested a high of Rs 433.35 per kg in intraday and is now trading tad lower by 0.42% or Rs 1.8 at Rs 431.65 per kg. Copper futures October contract in Shanghai ended at 71530 yuan per tonne, down 530 yuan or 0.6% lower. Comex Copper futures most active September contract was trading at $4.3895 a pound, down by just 2 cents compared to the previous day that ended at $4.41 a pound.

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