Copper Rose on Weakening Dollar

Copper rose in New York and London as a weaker dollar stoked demand for industrial metals as an alternatives investment.

The US Dollar Index, a six-currency gauge of the greenback’s strength, dropped as much as 0.7% amid reduced concern that the Federal Reserve’s bond-buying Programme will fall short of expectations.

Copper on Wednesday slid the most since July 16 in London after posting the biggest advance in two weeks on October 25, “Markets will likely remain choppy, taking their lead from moves in the dollar,” said an analyst at RBS Global Banking & Markets in London. December-delivery copper gained 2.45 cents, or 0.6 %, to $3.80 a pound at 7:48 am on the Comex in New York.