Copper Falls In Europe, COMEX Futures At One Week Low

15 Sep 2022 , 05:07 PM

Copper fell in Europe as worries over rising global interest rates came back to haunt the sentiments. The global Central bankers must be persistent in fighting broad-based inflation, International Monetary Fund chief Kristalina Georgieva said on Wednesday. Inflation is stubborn and more broad-based, she noted. Copper pulled lower to one week low amid these cues, falling under $3.50 per pound and currently trades down around 1% at $3.48 per pound. The US dollar index jumped above 109.50 too, inching close to two decade high yet again. MCX Copper saw a sudden drop with intense selling visible after the break under Rs 650 per kg. The counter trades at Rs 645.60 per kg, down 0.47% on the day.Powered by Commodity Insights