COMEX Copper eased today as a drop from 3½ year highs extended on profit selling. US dollar strength is emerging as a key factor for weakness in metals, while traders took profits after the huge surge in copper in last few weeks. US dollar soared to the 3-month high near 95 marks and COMEX Copper is off 0.85% to trade at USD 3.15 per pound.
Gold was little changed on Friday, after plunging to a 3-week low as the dollar gained versus the euro after the European bank policy (ECB), extending its bond-buying programme. Spot gold was unchanged around at USD 1,266.10 /ounce later morning hours hitting its lowest since Oct. 6 at USD 1265.08 /Once in early trading.
The Dollar V/s Dollar:- The dollar stood high on Friday, while the euro slumped to 3-month lows after the ECO extended its bond purchases and reduced the chances that it would hike interest rates in 2018.
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