Copper hit a four-month high as the US dollar index retreated and the White House offered carmakers a temporary stay on tariffs. Benchmark copper futures rallied 1.09% to US$9,689 a metric ton, building on Wednesday's 2.6% jump. Prices traded briefly above US$9,700 for the first time since early November. A strong night for industrial metals also saw nickel break back above US$16,000 to its highest in almost four months,
Gold took a breather after three days of gains. Spot gold was lately down US$7.20 or 0.25% to US$2,910.70 an ounce. Gold futures edged up less than 0.1% to US$2,926.60. "We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish... Another thing that's putting some mild pressure on the gold market is a rise in bond yields," Jim Wyckoff, senior market analyst at ***** Metals, told Reuters.
SPQ Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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