Investor's remained cautious over the speech to be delivered by the Federal Reserve chairman Ben Bernanke later on Friday in Jackson Hole, Wyoming. Additionally, market participants were also looking out for the US government preliminary estimates for June quarter changes in the prices of goods and services following a tentative economic data released yesterday. This led the metals to recede during the mid morning. The dollar index was under pressure and slid by 0.43% at 73.92 against the basket of 6 major currencies on rise in Australian dollar and concerns over Fed conference. In domestic market at MCX, Copper for delivery in August tumbled by 0.65% or Rs 2.7 at Rs 413.15 per kg with its high at Rs 415.5 per kg. The open interest added 5.97% to 13,861 lots indicating some short selling and volume traded as of now stood at 17,122 lots against 90,639 lots trade last day. The contract was just below the 50-day EMA and the RSI stood at 53.61. Other metals at MCX were trading flat. Aluminium was seen trading at Rs 107.7 per kg and Lead was trading at Rs 110.6 per kg. MCX Zinc was trading at Rs 100.95 per kg and Nickel was trading at Rs 967.6 per kg. At the SHFE, Copper futures for most active November contract was trading at 67380 yuan per tonne, up 580 yuan. Comex Copper futures for most active September contract was trading at $4.0715 a pound, down by 0.18% or just 1 cent compared to the previous day.

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