COMEX copper is adding further gains above $4.77 per pound, tracking further decline in dollar overseas coupled with falling LME inventories. The ongoing global trade tensions and Trump criticisms on Federal Reserve (Fed) Chairman Jerome Powell are eroding investor confidence and driving the dollar index below 98 mark. LME Copper inventories fell in last session, sliding after a recent spike. Inventories tanked 2850 tonnes to 213400 tonnes, failing from a three week top. Nevertheless, sell off in US equities overnight amid lingering concerns about a global trade war could limit upside in the red metal. The Nasdaq plunged 415.55 points or 2.6 percent to 15,870.90, the Dow tumbled 971.82 points or 2.5 percent to 38,170.41 and the S&P 500 slumped 124.50 points or 2.4 percent to 5,158.20. MCX benchmark April Copper futures are staying well supported after breaking above Rs 850 per kg mark.

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