-
Copper price jumps amid anticipation of 2024 interest rate cuts
Copper prices rose sharply on Thursday on expectations of interest rate cuts next year that would boost economic growth and metals demand. Three-month copper on the London Metal Exchange reached $8,565 per tonne, up 2.8%, the biggest daily gain since Jan. 9 this year. chart Copper for delivery in March rose by 3.1% on the Comex market in New York, reaching $3.90 per pound ($8,580 per tonne). Fed Chair Jerome Powell said the historic tightening of monetary policy was likely over as inflation falls faster than expected, with a discussion of cuts in borrowing costs coming “into view.” The Fed news prompted rallies ... (full story)