Copper Edges Higher As Gold Rises

(RTTNews) - Copper prices moved higher on Monday amid rising demand expectations as global equities moved into the green. The dollar also fell, raising the appeal of buyers using foreign currencies.

December copper rose to $2.857 per pound, up 1.9 cents on the session. Prices rose as high as $2.877 earlier in the session.

The dollar declined against the euro as rising global stocks boosted risk appetite. The greenback also continued to weaken versus the Canadian loonie, which often moves with crude oil.

There was no major economic news on tap for Monday. On Tuesday, traders will keep an eye on the National Association of Business Economists meeting in St. Louis, which will include speeches from Council of Economic Advisers Chair Christina Romer and Federal Reserve Vice Chair Donald Kohn.

According to a survey by the NABE, 81% of forecasters think an economic recovery has begun. However, economists also feel that recovery will be slow due to weak household spending and a struggling job market.

In other metal trading, gold settled at $1,056.70 per ounce, up $8.90 on the session. Prices touched as high as $1,060.50.

For comments and feedback: contact editorial@rttnews.com

Posted in Categories: Canada, Economy, Eurozone, Releases, USA.

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Commodities Will Copper Continue To Shine In ‘09? When Do We Sell Gold? Silver ETFs: More Gains To Come? Oil Seems Like It’s Going Nowhere… But The Story Is Very Different Below The Surface Distorted IEA Oil Reserve Figures Create Biofuel Opportunities In “White Gold” Region Of Central Asia The Simplest Reason Gold Will Soar Physical Gold, Silver And Oil Out-Performing Their Stocks? Silver Hits New Highs At Top Of Uptrend Channel Gold Has Just Barely Entered The Gravity-Free Zone More Than Just Mines: A Look At Other Ways To Profit From Coal, Copper And Ore Read More »	Financials Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal Stock Market Briefs: Twitter May Consider IPO, Tyson Foods Beats Estimates Don’t Count Out Actively Managed ETFs U.S. Bank Failures Reach 124 Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It Read More »	Exchange Traded Funds Why Agriculture ETF Outlook Appears Promising Is Low Interest Creating A Sovereign Debt Bubble? Protect Yourself Against An Imminent Stock Market Correction Japan ETFs: The New War They’re Waging India ETFs: Too Much, Too Soon? ETF Update: Health Stocks And Health Care Legislation Biggest Gainer ETFs For The Week Ended 22 Nov Has Gold Just Broken Out Of Its Trend Channel? What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Read More »
Stocks Will Emerging-Market Outperformance Last? Stock Market Movers: Dollar Tree, Origin Agritech, US Airways Group How To Value Stocks Using Discounted Cash Flow Stocks To Watch Tuesday: Curis, Cell Therapeutics, Qwest Indian Stock Markets: Sensex Down 49.10 On Tuesday Can The Retail Sector Rouse The Recovery? Stock Charts For Tuesday: S&P 500, Nano, Hertz A Different Look At Recent Breadth Divergences In The NYSE Insider Selling Can Be An Important Tool In Determining Potential Trouble For Both Individual Stocks And The Broader Market Stock Picks For Tuesday: Curis, THQ And DryShips Read More »	Forex Risk Aversion Takes A Back Seat In Forex Markets Australian Dollar: Caution Swiss Franc: The Downside Prevails Canadian Dollar: Caution Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Watching EUR/USD At The 1.4945 Level Where 100 & 200 Bar Moving Averages Converge Forex Markets Drift Due To Lack Of Drivers Tuesday’s Forex Outlook Read More »	Economy Consumer Attitudes: The Future Of Saving And Spending Economic Highlights: GDP Up 2.8%, Corporate Profits Increase By $130 Billion With T-Bill Yields At Zero, It’s Time To Beware Of The “Bond Bears” U.S. Economy Will Grow Faster Than Expected, Jobs To Return To Growth Next Year, Economists Say Government Debt - The New Subprime? Heeding The Populist Call Here’s A Sector To Short Cartoon: This Unemployment Line Seems Different 29 Retailers You’ll Have A Harder Time Finding After 2009 Emerging Markets Consider Capital Controls To Combat “Hot Money” Inflows Read More »