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Copper is a widely used industrial metal with diverse applications in infrastructure, electronics, transportation, and energy sectors. Its high electrical conductivity, malleability, and corrosion resistance make it indispensable in modern society. Copper prices are influenced by supply and demand dynamics, geopolitical factors, global economic conditions, and market speculation.
Supply and Demand: Copper prices are highly sensitive to changes in global supply and demand dynamics, especially from major consumers like China.
Economic Indicators: Economic data, such as GDP growth, manufacturing activity, and construction spending, can impact copper prices.
Geopolitical Events: Political instability, trade tensions, and natural disasters can disrupt copper supply and influence prices.
Currency Movements: As copper is priced in US dollars, fluctuations in major currencies can affect its international demand and supply.
Open a Trading Account: Open a trading account with GO Markets to access Copper, and other precious metal CFDs
Practice with a Demo Account: GO Markets offers free demo trading accounts to practice trading before accessing live markets.
Fundamental Analysis: Study the fundamental factors that can impact copper prices. This includes factors such as production levels from major copper-producing countries, consumption trends, inventory levels, and economic indicators.
Technical Analysis: Technical analysis can be used to study historical prices, trends, patterns, and indicators, and help trader form potential trading strategies.
Leverage: Copper CFDs can be traded with leverage, allowing traders to control a larger position size with a smaller amount of capital (limits apply)
Risk Management: Traders should consider available tools such as stop-loss and take-profit orders to limit potential losses and lock in profits when trading.
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