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Copper futures trades higher on weak dollar

05 Aug 2024 Evaluate
Copper futures is trading higher on Monday as the weak US dollar makes American commodities more attractive to foreign buyers. Copper prices improved further by a decline in exchange inventories. However, some gains were limited by concerns about demand outlook and recession fears as US economic growth slows.

Copper futures for September delivery gained by $0.0325 or 0.79% at $4.1355 a pound on the Comex metals division of New York Mercantile Exchange.