Copper Climbs as Some Trade Fears Ease
16 May 2019 - 3:56AM
Dow Jones News
By Ira Iosebashvili
Copper prices rose Wednesday, boosted by hopes of easing trade
tensions.
Copper for July delivery recently was up 0.7% at $2.7430 a pound
on the Comex division of the New York Mercantile Exchange.
Part of the gains came after Bloomberg reported that President
Trump will delay tariffs on car imports. Trade worries have weighed
on prices for copper, which is frequently used in
manufacturing.
In precious metals, June gold was up 0.1% to $1,298.20 a troy
ounce on rising tensions between the U.S. and Iran.
The U.S. ordered all its nonemergency diplomatic staff to leave
Iraq immediately as tensions rise with Iran over recent attacks
against oil tankers and facilities in the Persian Gulf region.
Some investors buy gold during times of geopolitical
uncertainty, believing the metal will hold its value better than
other assets when markets turn rocky.
Write to Ira Iosebashvili at ira.iosebashvili@wsj.com
(END) Dow Jones Newswires
May 15, 2019 13:41 ET (17:41 GMT)
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