Base Metals Preview: COMEX copper extends gains above $6 per pound

COMEX copper extends gains for the second straight session on Monday, regaining momentum above $6 per pound, as dollar slipped under 99 mark. Positive cues from equities are also seen supporting the counter. The major averages on the Wall Street ended with notable gains on Friday. The Dow rose 237.96 points or 0.5 percent to 49,504.07, the Nasdaq advanced 191.33 points or 0.8 percent to 23,671.35 and the S&P 500 climbed 44.82 points or 0.7 percent to 6,966.28. For the first full trading week of the New Year, the Dow surged by 2.3 percent, while the Nasdaq and the S&P 500 jumped by 1.9 percent and 1.6 percent, respectively.

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