Copper tanks 1% as risk appetite stays lax

COMEX Copper futures eased today amid weak equities as markets eyed Israel-Iran conflict escalation. Risk appetite was lax and the US dollar index rose to a one-week high above 98.50 mark. COMEX Copper futures are quoting down 1% at $4.80 per pound. In Asia, Chinese Shanghai Composite index dipped 0.79%. Hong Kong's Hang Seng index tumbled 2% amid sustained losses. Japanese NIKEEI index fell 1%, falling from four-month highs. European stocks eased on Thursday as speculation grew over a possible US involvement in the Israel-Iran conflict. The US stocks closed flat in last session amid sustained worries on geopolitical front. MCX Copper futures are trading at Rs 878 per kg, down 0.22% on the day amid an overall choppy movement.

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