Bullish sentiment helps propel CME Copper to 2.33% gain

A quick look at yesterday: 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) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

This rally in CME Copper's price coincides with other Metals as Silver is trading around $23.45 after ending yesterday's session at $22.91 (up 2.34% today).

The commodity has been trending lower for about a month. Copper has shed 7.51% over the past three months.