Copper jumps to two-year peak

2020-11-06 15:58:27 GMT (Economies.com)
Copper jumps to two-year peak

Copper prices rose on Friday, as the US dollar fell against most majors amid broad anticipation of the US presidential election results.

 

Copper extended its rally for the fifth straight day as the gap continued to narrow between the Republican candidate Donald Trump against his Democratic rival Joe Biden in the race to the US presidency.

 

Biden chances for the presidency are much higher now, but Republicans will control the Senate and may block his efforts to inject further monetary stimulus.

 

Copper 3-month futures at LME rose 1.4% to $6,946.5 per tonne, as the metal gained 2.5% so far during this week.

 

The dollar index fell against a basket of currencies by less than 0.1% to 92.4 points as of 14:55 GMT, after it hit a high of 92.8 points and a low of 92.2 points.

 

Copper December futures rose 1.2% to $3.14 per pound as of 14:53 GMT, with a high of $3.17 and a low of $3.10.

 
 
 
  Symbol Last Change Chg.%
1.1924
0.0030
0.2497%
1.3324
-0.0059
0.4375%
Tadawul
8693.47
65.41
0.76%
23.180
-0.865
3.597%
45.470
2.645
6.176%
48.23
0.44
0.92%
1807.045
-59.465
3.186%
 
 
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