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Bloomberg reported that copper futures recorded the most gains in three weeks as the U.S. dollar declined, making industrial metals more appealing to investors.
Bloomberg reported that copper futures recorded the most gains in three weeks as the U.S. dollar declined, making industrial metals more appealing to investors.
As quoted in the publication:
Copper futures for December delivery rose 1.3 percent to $3.0435 a pound at 12:05 p.m. on the Comex in New York. A close at that price would mark the biggest gain for a most-active contract since Sept. 16.
Today, the dollar rose 0.4 percent against the currency basket, erasing a decline of as much as 0.4 percent.
On the London Metal Exchange, copper for delivery in three months climbed 1.2 percent to $6,715 a metric ton ($3.05 a pound). Through yesterday, the price dropped 9.8 percent this year.
