Base Metals Preview: COMEX copper near one-week high

COMEX copper is up around one-week high as dollar index is losing momentum amid optimism surrounding a possible US Iran peace deal. Besides, positive cues from equities are also benefiting gains in the red metal. Wall Street settled higher on Friday, capping off a winning week as easing bond market pressure lifted investor sentiment. The Dow Jones Industrial Average gained 294.04 points to notch a record close at 50,579.70, the S&P 500 rose 0.37, and the Nasdaq added 0.19. Currently, the counter is quoting at $6.42 per pound.

Powered by Commodity Insights