Copper futures chart trends indicate stronger demand from

Copper futures chart trends indicate stronger demand from the EV sector, with smelter order books at multiyear highs. This industrial demand narrative is reinforcing the bullish outlook. Precious metals have long attracted investors due to a broad mix of factors, ranging from the safe-haven demand spurred by geopolitical tensions to deep-seated anxieties over rising global debt and the ongoing de-dollarization efforts. However, the intensity of the latest price spike seems to be purely the result of macroeconomic forces. Gold ‘s surge of nearly 7% last week came on the back of Friday’s U.S. inflation data, which matched market’s forecasts and reinforced bets that the Federal Reserve (Fed) may continue with interest rate cuts later this year. Data showed that the U.S. Personal Consumption Expenditures (PCE) price index rose 2.7% year-on-year in August, in line with economists’ expectations. Investors now see a 95% probability of a rate cut in October, according to the CME FedWatch Tool [1] . Got a confidential news tip? We want to hear from you. Market strategists point out that copper futures chart readings above the 200-day moving average typically attract trend-following funds, adding fuel to directional moves.