Investing.com - Copper futures traded near a 12-week high on Tuesday, as market players looked ahead to the release of key U.S. data later in the session for further indications on the strength of the economy.
On the Comex division of the New York Mercantile Exchange, copper for July delivery rose 0.21%, or 0.6 cents, to trade at $3.174 a pound during European morning hours. Copper hit $3.193 a pound on Monday, the most since March 7.
Futures were likely to find support at $3.136 a pound, the low from May 23 and resistance at $3.219 a pound, the high from March 7.
The U.S. is to produce data on durable goods orders, house price inflation and consumer confidence later Tuesday.
Recent data has shown that the U.S. economy is shaking off the effects of a weather-related slowdown over the winter.
Copper prices have been well-supported in recent sessions amid growing optimism over the health of the U.S. economy and speculation demand from top consumer China will increase in the near-term.
Elsewhere on the Comex, gold for August delivery shed 0.64%, or $8.30, to trade at $1,283.60 a troy ounce, while silver for July delivery dipped 0.54%, or 10.5 cents, to trade at $19.31 an ounce.
Worries over Ukraine eased slightly after its presidential election on Sunday, where exit polls showed a decisive victory for Pro-European candidate Petro Poroshenko.
Poroshenko promised to restore order in the country, following months of fighting between pro-Russian forces and the government.
Russian President Vladimir Putin pledged to respect the result of Sunday''s elections. The U.S and its allies warned that they would tighten sanctions against Moscow if voting was disrupted.
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