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Copper scales up two and half month highs near $4.60 per pound

26-Sep-24 17:49 Hrs IST

COMEX Copper futures jumped amid firm cues from equities after a modest pullback in last session. The metal currently trades at $4.58 per pound, up 2% on the day and hitting highest in two and half months. Chinese demand hopes and a sustained drop in the US dollar index is boosting the commodity. Equities spiked across the board today. China's Shanghai Composite index spiked 3.61%, adding to latest array of gains. Hong Kong's Hang Seng index jumped 4%.Japan's Nikkei 225 soared 2.79% to mark a highly bullish day for Asian markets. European market soared with major indices jumping more than 1%. Copper showed a minor correction in last session as US stocks eased amid uncertainty about the near-term outlook following recent gains that lifted the Dow and the S&P 500 - to record highs.

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