[MARKET ANALYSIS] Copper prices lower due to closure in the Chinese market as celebration for Chinese New Year/Spring Festival holiday commences

Spot gold takes a breather after edging higher above the USD 5,000/oz mark following a lower-than-expected US inflation data on Friday. However, thus far today, there’s been a lack of fresh catalyst for the yellow metal due to holiday closures across China and North America. Spot gold still trades above the USD 5,000/oz mark at the time of writing, within the USD 4,985.55-5,070.00/oz. Copper prices are lower today between tight USD 12,793.64-12,880.83/t confines. Trade around the red metal remains subdued due to the Chinese market holidays as they celebrate the Chinese New Year/Spring Festival holiday over the next week. Volume is further dampened by the US holiday today.