COMEX Copper bounces more than 2%

COMEX Copper futures spiked today in volatile trades as the US Fed noted that US economy was showing impressive resilience despite recent shocks. Copper rose despite mixed equities In equities, China's Shanghai Composite index fell 0.62%. Hong Kong?s Hang Seng index added 0.20%. Japan?s Nikkei average rose 0.71% as markets eyed the outcome of Bank of Japan Monetary Policy Meeting tomorrow. European stocks edged up modestly. In last session, soaring crude oil prices and inflationary worries weighed on the US equities. The S&P 500 fell 1.5%. The Dow dropped 2.2% and the Nasdaq composite slumped 1.7%. Copper slipped around 0.75% in last session but bounced back forcefully today and currently trades at $6.45 per pound, up 2.20% on the day. MCX Copper rose 1% to trade at Rs 1336.55 per kg.

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