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Copper set for second straight monthly gain on US-Iran peace deal hopes

From brecorder.com

Shanghai copper rose on Friday, on track for a second straight monthly rise, as hopes of a US-Iran peace deal pushed oil prices and the dollar lower, easing fears of higher inflation and a global slowdown. The most-traded copper contract on the Shanghai Futures Exchange was up 0.8% at 104,900 yuan ($15,472.55) as of 0324 GMT. The contract has gained 3.7% so far this month. Three-month copper on the London Metal Exchange was unchanged at $13,699 a metric ton. Both the contracts were up for the second straight month. The United States and Iran reached an agreement on Thursday to extend their ceasefire and lift ... (full story)

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  • Category: Fundamental Analysis