London Copper Eases on Rising Stocks, Demand Worries; Oil Prices Remain Elevated

Benchmark three-month copper on the London Metal Exchange fell 0.56% to $14,242.5 a metric ton, pressured by rising LME warehouse stocks and worries over high energy costs dampening global demand. Oil prices, though starting the week lower, remained elevated following attacks on Saudi Arabia, raising geopolitical risks. This sustained high energy cost environment weighs on global economic sentiment, impacting growth-dependent commodities like copper. For Pakistan's gold and currency markets, persistent geopolitical tensions and elevated oil prices could contribute to inflationary pressures and potentially support safe-haven demand for gold.

بحوالہ / Source: www.brecorder.com