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19-Aug2016

Copper futures end higher on Fed outlook

Copper futures ended higher on Thursday, as minutes of the Fed's meeting in July released on Wednesday dampened prospects for a US rate hike this year, weakening the dollar and boosting the appeal of commodities priced in the greenback. Fed officials agreed at the July meeting that more economic data was needed before raising rates. Industrial metals in recent days have been supported by expectations that governments around the world would have to use fiscal stimulus to boost economic activity because central banks were running out of options.

Copper futures for September delivery gained 0.7 percent to settle at $2.168 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed up 0.7 percent at $4,810 a metric ton.

 


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