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Commodity News Details
Copper slumps as Dollar index almost hits 103 mark, MCX Copper down 1.5%
14-Oct-2024 17:33
Copper slumped today, giving up gains in last session as a firm US dollar hit commodities. The COMEX Copper futures are currently trading at $4.41 per pound, down 1.70% on the day, reversing the upswing of 1.50% on Friday. US dollar index almost tested 103 mark amid a sudden spike in afternoon trades, hitting two month highs and led to a sharp selloff in industrial commodities. MCX Copper futures are quoting at Rs 829.25 per kg, down 1.29% on the day after testing a low of Rs 827.30 per kg. Meanwhile, equities are mixed to steady today. China's Shanghai Composite index jumped 2% after recent volatility. Hong Kong's Hang Seng index fell 0.75%. European markets saw thin movement with some gains emerging in German stocks. The US stocks stayed broadly supported with the Dow and the S&P 500 hitting new record closing highs on Friday. The Dow soared 1%, the S&P 500 rose 0.6% while the Nasdaq added 0.3%.

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