Friday, 7 November 2014

Copper futures edge higher on ECB President’s dovish remarks

Copper futures ended up on Thursday as European Central Bank President Mario Draghi's dovish remarks supported the price of the red metal. However, stronger US dollar against a basket of major currencies following the reports of better-than-expected US jobless claims numbers, capped some gains in copper prices to some extent.
Copper futures for December delivery added 0.3 percent to settle at $3.0175 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 0.3 percent at $6,660 a metric ton.

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