Copper Climbs as Some Trade Fears Ease -- Update
May 15 2019 - 4:56PM
Dow Jones News
By Ira Iosebashvili
Copper prices rose Wednesday, boosted by hopes of easing trade
tensions.
Copper for May delivery was up 0.7% at $2.7535 a pound on the
Comex division of the New York Mercantile Exchange.
Part of the gains came after Bloomberg News 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, May gold gained 0.1% to $1,296.30 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 17:41 ET (21:41 GMT)
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