COMEX Copper Stays Supported Around Six Year High

Published on Nov 27, 2020 12:26

COMEX Copper stayed well supported amid weak US dollar even as economic cues were lax and equities saw thin movement. COMEX Copper hit six year high and currently trades up 0.12% at $3.36 per pound. German consumer sentiment dampened due to the partial lockdown, survey results from the market research group GfK showed Thursday. The forward-looking consumer sentiment index fell to -6.7 in December from revised -3.2 in October. All sub-components of the confidence index weakened in November. The economic expectation indicator fell by 7.3 points to -0.2 in November. This was the lowest figure since May.