Base Metals Preview: COMEX copper down 1.5% in early Asia

COMEX Copper futures gave back precious day gains and are down by 1.5% at $4.77 per pound in early Asian trades on Friday. Lack of cues from overnight US equities and dollar index holding near recently achieved 98 levels is weighing on the counter. The US stock market was closed on June 19 in observance of Juneteenth and the market ended mixed on June 18 following the Federal Reserve's decision to maintain interest rates. Asian markets this morning are also offering mixed cues as geopolitical concerns remain in play, with Israeli Prime Minister Benjamin Netanyahu ordering intensified strikes on Iran, targeting 'strategic' and 'government' sites in Tehran, following a reported Iranian missile strike on a hospital in Beersheba. On the MCX, copper futures are staying lax at around Rs 878 per kg.

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