COMMODITY
Copper futures settle down on Monday
Jul-23-2024
Copper futures settled down on Monday with caution ahead of US gross domestic product data for the second quarter, the personal consumption expenditure data and comments from US Federal Reserve officials this week, which could provide clarity on the timeline for interest rate cuts. Copper prices declined further as Joe Biden's decision to drop out of the US presidential race fuelling fresh uncertainty. Although, a weaker dollar limited downside.

Copper futures for September delivery lost $0.0390 to settle at $4.1975 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1 percent at $9,216.50 a ton. 

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