Copper capped its biggest weekly gain in more than six months with a 2 percent burst on Friday as encouraging US job data helped the metal recover after falling to a 14-month low early this week. Copper's failure to fall alongside other risk assets like oil and equities suggested some positioning in anticipation that China could return from holiday on Monday in a buying mood.
Volumes remained thin for a second-straight day and a late credit ratings cut to both Spain and Italy took some wind out of metal's rally. In New York, the key December COMEX contract settled up 2.70 cents at $3.2735, after trading between $3.2580 and $3.3380. Volumes were on the light side for a second straight day, with about 50,000 lots traded in New York, down about 10 percent from the 30-day norm, according to Thomson Reuters preliminary data.
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