Copper rose to a two-month high to cap a strong week for metals, helped by the Federal Reserve’s half-point rate cut.

The long-anticipated cut, larger than the typical quarter-percent (25 bps) drop, was the first since the Fed started raising rates in 2022 to curb skyrocketing inflation.

Gold hovered near record levels on Friday and was on track for a weekly gain after the U.S. Federal Reserve's recent oversized interest rate reduction and on signs that further cuts were on the horizon.