Base Metals Preview: COMEX copper pulls back from fresh record highs

Copper futures lost momentum after hitting fresh highs of $5.95 per pound during intraday moves in the previous session. Dollar rebound is seen dampening sentiments in the red metal. Meanwhile, gains in the counter were largely supported by improved risk appetite and weak dollar overseas. Meanwhile, Wall Street turned in a mixed performance on Thursday. The Dow stumbled 316.38 points or 0.70 percent to finish at 44,693.91, while the NASDAQ gained 37.94 points or 0.18 percent to close ar 21,057.96 and the S&P 500 rose 4.44 points or 0.07 percent to end at 6,363.35. The counter is currently quoting at $5.79 per pound, marginally down on the day. MCX Copper futures are holding above Rs 900 per kg.

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