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Base Metals Preview: Copper seen supported around $6.5 per pound mark
31-Jul-2026 09:26

COMEX copper is seen supported around $6.5 per pound mark on Friday, up 0.35% on the day and set for a monthly gain of around 4%. Positive cues from equities and sharp slide in dollar overnight is aiding gains in the red metal. Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight amid the rebound in technology or semiconductor stocks as major global firms reinforced aggressive AI investment plans renewed optimism over AI spending after major US tech firms reinforced their aggressive investment plans. On the Wall Street, the tech-heavy Nasdaq helped lead the way higher, spiking 679.24 points or 2.8 percent to 25,122.18. The S&P 500 also shot up 121.48 points or 1.7 percent to 7,437.63 and the Dow jumped 613.92 points or 1.2 percent to 52,508.06.

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