Copper sees good bounce
11-Sep-2024
17:14
COMEX Copper futures saw a good bounce today though overall movement remains sideways. The red metal currently trades at $4.15 per pound, up 1.50% on the day. Copper has rallied despite mixed equities as a slide in the US dollar index boosted the counter. Chinese markets fell to a seven-month low as the U.S. House of Representatives approved BIOSECURE Act, restricting US ties with specific Chinese biotech companies to safeguard national security. Hong Kong's Hang Seng index tested near one-month low. European stocks saw marginal gains today. In overnight trades, Nasdaq and S&P 500 saw strong gains although Dow dropped modestly.
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