Copper May Rise as Goldman Sees Sufficient Demand: LME Preview

Aug. 8 (Bloomberg) –Copper may rise, rebounding from the lowest level in more than a month, on speculation global growth will be sufficient to drive demand, and as Goldman Sachs Group Inc. kept its overweight recommendation on the metal.

Market News:

Metals News:

Metal Prices:
-- Copper rose $12, or 0.1 percent, to $9,053 a metric ton by
8:41 a.m. on the London Metal Exchange. Relative Strength Index
31.7.
-- Aluminum gained 0.2 percent to $2,407 a ton. RSI 31.6.
-- Zinc declined 0.5 percent to $2,188.25 a ton. RSI 30.2.
-- Lead slumped 1.4 percent to $2,327 a ton. RSI 24.
-- Nickel dropped 2 percent to $22,060 a ton. RSI 33.5.
-- Tin plunged 6 percent to $22,900 a ton. RSI 21.6.

Other markets:      Last           % Change   % YTD
U.S. Dollar Index   74.134          -0.6       -6.2
Crude oil           $83.22          -4.2       -8.9
Gold                $1,713.40        3.0       20.6
MSCI World Index    1,192.56        -0.1       -6.8

Economic events:
                                      Forecast  Prior     Time
                                                        (London)
EC Sentix Investor Confidence   AUG      3.4     5.3      9:30