Strong dollar also hammering the metals Investor's jitters regarding the surge in ECB balance sheet and ahead of Italy long dated bonds prompted them to flee away from risky assets and stay on safe haven dollar. Italy planned for a bond auction sale of up to 8.5 billion euros ($11 billion) due from 2014 to 2022, later on Thursday. In addition to the bond auction the US economic data due later today such as initial jobless claims, pending home sales and Chicago purchasing managers index were also eyed to provide direction to the further price movement. The dollar index buoyed by to the 11-month high of 80.72 against the basket of 6 major currencies as the long dated Italy bond auction that is looming propelling the investor to stay on safe haven asset dollar. Comex Copper future for the most active March contract was trading at $3.3445 a pound, down 0.62% (2 cents). SHFE Copper future for most active February 2012 contract settled at 54320 yuan per tonne, down 1.72% (950 yuan). Likewise at MCX, Copper for delivery in February was plunging by 0.66% or Rs. 2.65 at Rs. 396.9 per kg. Among other metals in the domestic market at MCX, window dressing was seen in Nickel and depreciation in Rupee which is at 53.46 levels cramping the metals from its further fall. Nickel for delivery in December tested a high of Rs. 960.7 per kg and low of Rs. 948.7 per kg in intraday and is now trading at Rs. 951.4 per kg, down 0.32% or Rs. 3.1. Zinc remains unchanged at Rs. 96.1 per kg. Aluminium was weakening by 0.43% or Rs. 0.45 at Rs. 104.9 per kg and MCX lead remained flat at Rs. 103.35 per kg.

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