Base Metals Preview: COMEX copper hovers around three-month high

COMEX copper stays supported at over three-month highs in early Asia on Thursday tracking positive cues from equities and sharp reversal in dollar index under 98 mark. Copper is extending sharp recovery of over 3% witnessed yesterday. The Nasdaq surged 512.82 points or 2 percent to 25,838.94, the S&P 500 shot up 105.90 points or 1.5 percent to 7,365.12 and the Dow jumped 612.34 points or 1.2 percent to 49,910.59. The dollar index slipped below 98 on Thursday, extending losses from the prior session as markets priced in rising expectations of a US-Iran agreement to end the war. Currently, the red metal is quoting at $6.19 per pound, up marginally on the day.

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