Commodity traders stay bullish as Copper adds 8.35 cents or 2.33%

A quick look at today: Copper spiked to $3.67 per pound, gaining 8.35 cents.

On the flip side, United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%. United States Pending Home Sales fell short of the 0.5% projections, with new data of 0%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

This rally in CME Copper's price coincides with other Metals as Silver went up by 2.34% today, and closed at $23.45.

The commodity has been trending lower for about a month. Copper has shed 9.38% over the past three months.