COMEX Copper Off One Week Low

Copper cut losses today after witnessing some losses earlier in the week though the overall undertone remained muted ahead of a key interest rate decision from the US Federal Reserve. Recent movement in commodity prices and a rather choppy trading pattern in major indices following the Trump-Kim meet have been weighing on world stocks. The Fed is expected to raise interest rates by 25 basis points at the end of its two-day policy meeting later today. The red metal has slipped from its four year highs on reports of progress in Escondida labor talks. The commodity is currently trading at $ 3.24 per pound, down 0.11% on the day after testing a one week low of $ 3.22 per pound. MCX Copper futures are currently trading at Rs 484.50 per kg, almost unchanged on the day.