Copper rose on Friday to end August with a monthly gain, after Federal Reserve Chairman Ben Bernanke said high unemployment is a "grave concern", leaving investors hopeful for another round of government bond buying, or quantitative easing, or QE, from the US central bank.
COMEX copper for December delivery rose 1.00 cent to settle at $3.4570 per lb, after dealing between $3.4075 and $3.4680. For the month, the contract was up nearly 1 percent. The metal is still down around 13 percent from its 2012 peak hit in February at $8,765, and has been trapped in a range this month between $7,300 and $7,700 amid low trading volumes.