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Commodity News Details
Copper Holds Steady After Recent Surge
08-Jul-2024 18:51

COMEX Copper is consolidating after recent surge. The red metal soared on Friday to one month high of $4.67 per pound, up more than 3% on the day amid supportive cues from Gold and Silver. Sustained weakness in dollar and positive cues from equities also kept the counter supported. US dollar index fell to three week low under 105 mark. Nonfarm Payrolls (NFP) in the US increased by 206K in June as reported by the US Bureau of Labor Statistics (BLS) on Friday. US equities stayed supported following this and pushed Copper higher.

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