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Copper has risen in price twice more than gold

At the auction on the London Metal Exchange copper futures showed a noticeable increase

The result of the week was a noticeable rise in price of copper: along with a daily increase of 0.57% on Friday November 24, its price since the beginning of the year has risen in price by 26.5%, to $ 7003 per ton. Copper, therefore, has grown in price twice as much as gold, the troy ounce of which has risen since the beginning of the year by only 12.15%, to 1287.96 dollars. Copper on the world’s key global site – in London – has become more expensive against the backdrop of a record two-month decline in the volume of stocks of this metal. The weekly decline of this indicator, by 14%, became the strongest in 12 years. For a week copper has risen in price thus on 3,4%.

The US dollar finished the week on a minor note – minus 0.09% on the dollar index, which fell from the beginning of the year by 8.88% to 93.13 points. A weak US currency pushes those prices to assets that are denominated in US dollars, mostly up. As a result, the barrel of oil WTI went up by the end of the working week by 1.28% to $ 58.76 or by 4.41% since the beginning of the year. The barrel of Brent crude oil rose in price by 0.19% to $ 63.67 or 12.06% since the beginning of the year. Against this background, the Russian ruble strengthened somewhat: the US dollar finished the week with the exchange rate of 58.4 rubles, and the euro – with a rate of 69.65 rubles.