COMMODITY
Copper futures end higher on weaker dollar
Dec-02-2022
Copper futures ended higher on Thursday as the US dollar weakened to 16-week lows against a basket of major currencies makes dollar-denominated copper cheaper for buyers using other currencies. Copper prices improved further after US Federal Reserve Chairman Powell signalled it was time to slow the pace of coming interest rate hikes following the central bank’s aggressive tightening moves to curb inflation. 

Copper futures for December delivery gained $0.0845 to settle at $3.8140 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.18 percent at $8,336 a ton.

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