RTTNews - Copper prices finished little-changed on Friday, holding most of its recent rally. Investors await the release of some key housing data on Monday.
September-dated copper finished at $2.522 per pound, down 0.2 cent on the session. Prices dropped as low as $2.4895 after hitting as high as $2.54.
Copper finished the week up 10.15 a pound after surging 20 cents last week. The metal reached a multi-month high of $2.5385 earlier in the week.
New home sales data for June is scheduled at 10 a.m. ET. Sales are expected to rise to 350,000, from 342,000 in May.
On the economic front Friday, the Reuters and the University of Michigan released a report showing that consumer sentiment index for July came in at 66.0 compared to the preliminary reading of 64.6, although it remains below a reading of 70.8 for June. Economists had expected the index to be revised up to 65.0.
The dollar slipped slightly against the euro, giving back gains from late yesterday. The buck saw modest strength against the British pound after a government report showed that the U.K. economy contracted more than expected in the second quarter.
In other metal trading, gold settled at $953.10 per ounce, down $1.70 on the session. Prices touched as low as $946.60.
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