COMEX copper futures are accelerating gains to hit fresh nine-month high tracking positive cues from equities and amid optimism about a ceasefire in Ukraine. The strength on Wall Street came following the release of a closely watched Labor Department report showing consumer prices in the U.S. increased by slightly less than expected in the month of February. The tech-heavy Nasdaq led the way higher, jumping 212.35 points or 1.2 percent to 17,648.45. The S&P 500 also climbed 27.23 points or 0.5 percent to 5,599.30, although the narrower Dow bucked the uptrend and dipped 82.55 points or 0.2 percent to 41,350.93. A sustained pullback in LME Copper inventories over last few days coupled with extremely weak movement in the US dollar also boosted the counter. The red metal currently trades at $4.85 per pound, marginally up on the day and following sharp spike of over 2% yesterday. Meanwhile, on the MCX, Copper futures hit Rs 900 per kg.

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