Commodities: Copper clambers back atop 200-day moving average

Commodities moved higher as investors in the States returned from the long weekend and US-China trade talks got under way again in Washington D.C..

Metals saw across-the-board strengh, with copper pacing gains.

May copper on COMEX snapped higher by 2.64% to $2.8770 a pound, while three-month LME copper advanced from $6,260 per metric tonne at the session open to $6,319 by the close, pushing past its 200-day moving average in the process.

"We anticipate further technical buying tomorrow. We continue to see April upside open interest increase as optimistic investors look to capitalise on the possibility of a trade war," said traders at Sucden Financial.

Meanwhile, april gold on COMEX was ahead by 1.61% to $1,343.40/oz. and spot platinum was adding 1.73% to $820.41/oz..

Energy futures meanwhile were mixed, with front month Brent giving back 0.48% to $66.18 a barrel, even as March WTI tacked-on 0.63% to $55.94 a barrel and March natural gas on NYMEX added 1.33% to $2.66/MMBtu.

Soft commodity prices on the other hand were mixed, with May wheat on CBoT pacing losses and down by 2.71% at $4.9325 a bushel.

As of 1847 GMT, the Blomberg commodity index was moving higher by 0.33% to 81.22 as the US dollar spot index dropped 0.44% to 96.4780.