Copper rises over 1% despite rising dollar and Omicron worries

Copper prices rose on Monday, despite the US dollar's rise against most currencies, and concerns over the Omicron variant.

Concerns increased around the world after a new Covid-19 variant emerged called "Omicron," as it first appeared in South Africa last week, which sparked concerns of its rapid spread and resistance to vaccines.

Countries around the world, including the Netherlands and Germany, discovered the Omicron variant coming from African countries.

Moderna company announced that it is developing an anti-vaccine to prevent the Omicron variant to be available in large quantities early next year.

The dollar index rose against a basket of major currencies by 0.3% to 96.4 points as of 14:58 GMT, after hitting a high of 96.4 points and a low of 96.1 points.

Copper December futures rose 1.1% to $4.33 per pound as of 14:49 GMT.