Base Metals Preview: COMEX copper loses momentum in early Asia

COMEX Copper futures continue to lose momentum near a one-week low from around three-month high hit last week. The red metal is currently quoting slightly lower but managing hold above $5 per pound. Steady demand undertone clubbed with mining worries has ensured to keep the metal positive but strength in greenback weighed on the counter. The metal added around 5% for October following a 6% gain in last month. Meanwhile, the Nasdaq climbed 143.81 points or 0.6 percent to 23,724.96, the S&P 500 rose 17.86 points or 0.3 percent to 6,840.20 and the Dow inched up 40.75 points or 0.1 percent to 47,562.87. For the week, the tech-heavy Nasdaq surged by 2.2 percent, while the Dow and the S&P 500 advanced by 0.8 percent and 0.7 percent, respectively.

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