HomeNewsNewsCopper extends gains on soft dollar, easing Omicron worries

Copper extends gains on soft dollar, easing Omicron worries

Dec 23 (Reuters) – Copper edged higher on Thursday, underpinned by a weak U.S. dollar, easing concerns about the Omicron coronavirus variant and upbeat U.S. economic data.

Three-month copper on the London Metal Exchange was up 0.2% at $9,625 a tonne at 0300 GMT, extending gains to a fourth straight day.

The most-traded February copper contract on the Shanghai Futures Exchange rose as much as 0.9% to 70,090 yuan ($11,002.10) a tonne, its highest since Dec. 8.

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The dollar index (.DXY) hovered near a one-week low against riskier currencies and asset classes, making greenback-priced metals cheaper to holders of other currencies.

* The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London’s Imperial College. read more

* A South African study, meanwhile, suggests…

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