METALS-Copper set for 1st weekly gain in 8 weeks amid easing dollar [Reuters]
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Source: Reuters
METALS-Copper set for 1st weekly gain in 8 weeks amid easing dollar SINGAPORE, June 7 (Reuters) - Copper prices on the London Metal Exchange (LME) rose on Friday as the U.S. dollar weakened, while the metal looked set for a weekly gain for the first time in eight weeks. Three-month copper on the London Metal Exchange rose 0.7% to $5,851.50 a tonne by 0158 GMT. On a weekly basis, it has risen 0.4% and would be the first gain since the week ended April 12. Meanwhile, the dollar index eased on Friday and was poised for its worst weekly performance this year, as investors waited for a key U.S. jobs report. A weaker dollar makes commodities priced in the greenback cheaper for buyers using other currencies. The base metals market was also trading in low volume due to lack of participation from Chinese traders who are on a public holiday for the Dragon Boat Festival. The Shanghai Futures Exchange is closed on Friday and will reopen on Monday. FUNDAMENTALS * Unions at Chile’s Chuquicamata cop
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