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Copper futures fell sharply on August 8, 2011, after the Standard & Poor's credit downgrade of the US credit rating. The downgrade triggered economic concerns, leading to a decline in copper prices, which are considered a bellwether of economic growth. The most actively traded contract for September delivery
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Copper futures struggled to stabilize on August 2, 2011, as a stronger dollar kept prices under pressure despite a modest increase in July US car sales. The Comex September copper contract settled at $4.3950/lb, a 0.3% decrease from the previous day's close. Car sales data,
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Copper futures experienced a relief rally after US lawmakers reached a deal to raise the national borrowing limit, but the gains were short-lived as a stronger dollar and concerns over the agreement's long-term impact curbed prices. As the US debt deal took shape, copper prices surged, only to
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Copper futures took a hit on Wednesday, falling 3.15 cents, or 0.7%, to settle at $4.4465 a pound on the Comex division of the New York Mercantile Exchange. The decline came as a result of a strengthening dollar, which makes dollar-denominated futures more expensive for buyers using
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Copper futures retreated on Monday as negotiations between US lawmakers to raise the debt ceiling stalled, casting a cloud of uncertainty over global markets. The metal, sensitive to economic outlooks due to its broad applications in construction and manufacturing, dropped 0.3% to $4.3955 a pound on the Comex
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Copper futures rose on Friday on the view that steady global demand and disruptions in mine production would outweigh worries about the economic health of the US and Europe. Despite weak readings on US consumer confidence, industrial production, and New York-area business conditions, copper's rise was driven by
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Copper futures plummeted for the second session on Monday, weighed down by concerns over Europe's escalating debt crisis and China's escalating inflation. The steel price, a crucial indicator of economic growth, sank 0.9% to $4.3735 a pound on the Comex division of the New
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Copper prices declined on Friday after data showed that the US labor market remains weak, raising concerns about the economic outlook for the world's second-largest consumer of the industrial metal. The US economy added only 18,000 jobs last month, a significant shortfall from the expected increase of
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Gold futures continued their upward trend, reaching a third day of gains, despite an interest rate increase in Europe. The increased rate, coupled with concerns about Portugal's debt obligations, led to a weaker dollar, which in turn fueled demand for gold. The most actively traded contract for August
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Copper futures fell for a second consecutive day on concerns that the US economic slowdown and instability in the euro-zone would negatively impact demand for the industrial metal. The US dollar's slight strengthening against major currencies also weighed on copper prices. Despite weakness in the US economic data,
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A slowdown in Chinese bank lending has sent copper futures plummeting, with the July delivery contract on the Comex division of the New York Mercantile Exchange recently trading at $4.0290 a pound, a 2.6 cent or 0.6% decline from the previous day. This development comes as Chinese
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The 23rd trading week of the year came to a close with investors fretting about the increasing strength of the US Dollar. The S&P 500, Dow Jones Industrial Average, and NASDAQ were all lower for the week. Crude oil futures traded lower, down to $99.35 per barrel,
