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  • MCX Copper jumped sharply yesterday as COMEX Copper soared from a three week low. The major US equity indices hit record intraday highs after the US Federal Reserve Chairman Jerome Powells prepared remarks before the House Financial Services Committee. Powell told lawmakers that crosscurrents, such as trade tensions and concerns about global growth, have continued to weigh on the US economic outlook since the central banks June meeting. COMEX Copper is trading flat at $2.69 per pound right now after spurting around 2% yesterday. MCX Copper futures also ended up around 2% at Rs 442.25 per kg and the break above Rs 440 levels should work in favour of bulls.

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