Copper futures extend gains and hit nine-month peak

Copper prices rose on Thursday as the dollar index fell against a basket of major rivals, with the industrial metal marking nine-month highs.

The gains came after US data showed a surprise increase in the number of new homes, and the number of building permits, which indicates increasing copper demand. 

Analysts expect the US housing market to maintain its strength amid decent liquidity and strong consumer optimism. 

Otherwise, the dollar index fell 0.2% as of 16:05 GMT to 104.01, with a session-high at 104.2, and a low at 103.9.

Copper May futures rose 1% to $4.23 a pound as of 16:00 GMT.