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Copper Demonstrates Erratic Performance

April 6, 2015 at 23:16 by Vladimir Vyun

Copper demonstrated an erratic behavior at the start of the week. The metal made an upside breakout, allowing traders who followed our recommendations to book profit. Yet prices went back down after reaching the daily high of $2.83 — the strongest level since March 26.

The volatility could be explained by the changing performance of the US dollar. While the greenback was falling at the start of the trading session, the US currency bounced after a set of good macroeconomic data was released from the United States. Gold also had the same predicament, falling after the initial rally.

May contract traded little changed on COMEX at the start of the Tuesday’s session, staying close to the opening level of $2.717 per pound.

If you have any questions and comments on the commodities today, use the form below to reply.

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