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Copper near 7-year high as investors regain nerve; gold and oil firm up

Benchmark copper on the London Metal Exchange (LME) traded up 0.5 per cent at $7,784.50 a tonne in official rings, nearing Friday's peak of $8,028, its highest since 2013

Indian copper smelters feel the pinch as China laps up key ingredient
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Oil prices, too, firmed on Wednesday, but an unexpected rise in US crude oil inventories capped gains.

Agencies
Copper prices pushed towards multi-year highs on Wednes­day, as investors spooked by the emergence of a more contagious variant of the coronavirus regained their nerve. 

Benchmark copper on the London Metal Exchange (LME) traded up 0.5 per cent at $7,784.50 a tonne in official rings, nearing Friday's peak of $8,028, its highest since 2013.

Gold and oil prices, too, inched higher on Wednesday after US President Donald Trump's threat not to sign the pandemic relief Bill triggered a drop in the dollar.

Spot gold was up 0.77 per cent at $1,876.63 an ounce (8.33 pm IST). Bullion has climbed about 23 per cent

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First Published: Dec 24 2020 | 12:59 AM IST

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