Copper Prices Plummet as Rate Hike Fears Intensify

Copper prices have dropped 1.53% to $6.6065 due to rising expectations of an interest rate hike in the US, following comments from Fed Warsh.

The increased anticipation of tighter monetary policy has reduced speculative demand for copper, leading to sustained downside momentum in futures trading.

Copper is currently trading below its key short- and medium-term moving averages, but remains above longer-term levels.

Analysts predict that copper will trade within the $6.5505 to $6.6625 range over the next 2-3 trading days, with a low probability of an upward break and a high risk of further declines.