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Copper prices rose today ahead of the Federal Reserve’s announcement regarding its stimulus program.
Copper prices rose today ahead of the Federal Reserve’s announcement regarding its stimulus program. Speculation that moderate tapering of the program will occur weighed on the dollar, which boosted prices of the metal, Reuters reported.
Three-month copper prices on the London Metal Exchange increased $0.64, to $7,120 a tonne. On the COMEX in New York, copper rose to $3.27 a pound, an increase of $0.05 from the previous session, according to MarketWatch.
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