Bullish sentiment helps propel CME Copper to 2.33% gain

Yesterday at a glance: Copper spiked to $3.67 per pound, gaining 8.35 cents.

Nevertheless, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions came out at 193,100.

A look at other Metals also shows upside as notably, Silver rose 2.34% yesterday and closed at $22.91.

The commodity has been trending lower for about a month. The Copper future is now trading 7.51% below its 3-month high of $4.57.