Base Metals Preview: COMEX copper takes a breather after hitting all-time high levels
Mumbai, Sept. 9 -- COMEX copper pauses rally after surging to record high levels in the previous session as traders seemingly booked profits at higher levels. Also, weakness on Wall Street amid a sharp increase by the price of crude oil due to the continued escalation of the conflict in the Middle East limited gains in the counter. The Dow slumped 628.18 points or 1.2 percent to 52,786.07, the S&P 500 fell 45.08 points or 0.6 percent to 7,673.52 and the Nasdaq dipped 85.58 points or 0.3 percent to 26,421.41.The metal had surged to fresh all-time highs earlier this week amid tariff uncertainty and tightening global supply. Sharp pull back in dollar index has also supported gains in the red metal which is currently quoting at $.76 per pound, ...
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