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Copper holds steady after 8% rally in September
01-Oct-2024 17:31
COMEX Copper stabilized after coming off a four month high in last session as equities stayed largely supported. The red metal currently trades up 0.26% at $4.56 per pound. Meanwhile, in Asia, Japanese markets spiked as the yen extended losses and the BoJ Summary of Opinions indicated no immediate plans for further rate hikes. The Nikkei index jumped 1.93% after shedding 4.8% on Monday. European markets saw choppy moves as investors digested raft of data releases. US markets witnessed choppy moves on Monday before closing the day mostly higher. The major averages all finished the day in positive zone. DOW ended the September quarter with an impressive 8% gain. Copper returned by the same magnitude in the last month.

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