Copper opens up new investment avenue

摘要

The price rise has given unprecedented opportunity for an investor. The red metal has consistently outperformed gold over the last one and a half months. If an investor had bought one lot of gold in the start of March, it would have fetched, him a profit of Rs 30,000 today. At the same time if he had bought a lot of copper at that time, he would have made more than Rs 60,000 by now. There has been almost a 300 per cent jump in copper turnover on MCX in March. Gold has risen from Rs 9,290 on March 5 to Rs 9,530 by mid-April, a rise of about four per cent In comparison, copper rose from Rs 268 on March 2 to Rs 330 by mid-April, a jump of almost 25 per cent. Savvy investors rushed towards copper, trading more than 11 lakh contracts in March on MCX. In the last few days, the volume in the copper counter has surpassed gold. Between January and March, investors got 19 per cent returns from copper, while gold fetched them only nine per cent Now everyone is focussed on copper ,says a commodity analyst.