Trump's Iran Decision Boosts Gold, Copper Markets

US President Donald Trump's decision to postpone a planned military strike on Iran has led to a sharp decline in oil prices, easing inflation concerns. This development has had a positive impact on gold and copper markets.

Copper futures have climbed towards $6.5 per pound, reaching their highest level in two weeks due to persistent supply constraints and tight market conditions in top consumer China. Shortages of copper concentrate and scrap are driving up treatment charges and market spreads.

Gold prices have also risen as the reduced expectations of higher energy prices keep inflation elevated and interest rates higher for longer. However, Axis Securities recommends selling gold below $141500 with a stop-loss above $142500 and targeting $140000/$139000.