Copper hits fresh high as equities see promising moves

COMEX Copper hit fresh highs today as risk appetite stayed supported. The metal currently quotes at $5.91 per pound, up 1.74% on the day and bringing its gains for July to around 16.50%. In Asian equities, Chinese Shanghai Composite index rose 0.65% while Hong Kong's Hang Seng index jumped 1.60%. The Nikkei average also ended up 1.59% after having crossed the psychological 42,000 mark for the first time since July last year. European stocks gained ahead of ECB interest rate decision. German DAX is up 1%. The US equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia. The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%. MCX Copper futures are holding above Rs 900 per kg and are currently up 0.26% at Rs 900.75 per kg.

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