Arab Today, arab today copper off on global growth fears
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

Copper off on global growth fears

Arab Today, arab today

Arab Today, arab today Copper off on global growth fears

London - Arabstoday

Copper dipped on Monday as growing concerns about a slowdown in the United States and a debt crisis in Europe raised fears about the outlook for global growth and demand for metals, although further falls were capped by a weak dollar. Benchmark copper was trading at $8,822 (Dh32,400) at 0850 GMT, down slightly from Friday\'s close of $8,825 a tonne. Investors are growing increasingly uneasy about global recovery prospects, with disappointing data from the United States and a debt crisis in the Eurozone prompting investment flows into safe haven assets such as gold, which rallied to a new record high near $1,900 an ounce. Copper posted its third consecutive weekly loss last week, and is down more than ten per cent so far this month.  

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