- Copper prices rose to a one-week high on Wednesday, after mining giantGlencore (L:GLEN) announced further supply cuts of the red metal.Copper for December delivery on the Comex division of the New York Mercantile Exchange tacked on 1.6 cents, or 0.69%, to trade at $2.347 a pound during morning hours in London. It earlier rose to $2.352, the highest since October 28. A day earlier, copper prices inched up 1.1 cents, or 0.5%.
- Gold prices struggled near five-week lows on Wednesday, as investors looked ahead to key U.S. data later in the day for further indications on the strength of the economy and the likelihood of a near-term interest rate hike.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $4.60, or 0.41%, to trade at $1,118.70 a troy ounce during European morning hours.
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