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Copper gains as US-Iran peace deal hopes weigh on US dollar, oil

From brecorder.com

Copper rose on Monday as the dollar and oil prices fell on hopes of a potential peace deal between the United States and Iran, easing fears of inflation and a global economic slowdown. Three-month copper on the London Metal Exchange rose 0.90% to $13,624.32 a metric ton by 0419 GMT. The most-traded copper contract on the Shanghai Futures Exchange gained 1.1% to 105,590 yuan ($15,539.93) a ton. Expectations of a US-Iran deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel. Energy prices have risen sharply during the nearly three-month-long Middle East war, stoking inflation concerns and shifting ... (full story)

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  • Category: Fundamental Analysis