Copper Extends Upmove, COMEX Futures Near Two Week Top

1 Dec 2022 , 06:01 PM

COMEX Copper futures stayed well supported on bullish equities. Asian stocks saw good gains. Chinas Shanghai Composite index added 0.45%. Hong Kongs Hang Seng index rose 0.75%. Japans Nikkei 225 index gained 0.92%. European shares rose with Frances CAC index rallying more than 1%. The US stocks reacted positively to highly anticipated remarks by Federal Reserve Chair Jerome Powell. The S&P 500 gained 3% while the Nasdaq Composite soared 4.41%. The Dow Jones Industrial Average rose 2.12%. COMEX Copper futures rose near a two week high amid these cues and currently trade at $3.75 per pound, up 0.36% on the day. The recent slide in LME Copper inventories is also benefiting the red metal.Powered by Commodity Insights