COMEX Copper futures stayed well supported today, holding onto recent gains as traders digested the latest US Fed monetary policy decision. Copper has been staying elevated after breaking above $5 per pound mark and currently trades at $5.12 per pound, up 0.50% on the day. These are the highest levels in last ten months for the commodity. The US Fed held rates steady but reaffirmed its projection for two cuts this year. Importantly, the US Federal Reserve Chair Jerome Powell has downplayed US economic growth concerns and the impact of President Donald Trump's tariffs. He noted that inflationary impact of tariffs is likely to be transitory. This is keeping Copper in demand despite a 12% rally in this month so far.

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