Investing.com - Copper futures regained strength on Monday, as investors returned to the market to seek cheap valuations after prices tumbled more than 3% in the previous session. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at USD3.077 a pound during European morning trade, up 0.4% on the day. New York-traded copper prices held in a range between USD3.059 a pound, the daily low and a session high of USD3.088 a pound. Copper futures plunged 3.3% on Friday after the Department of Labor said the U.S. economy added 195,000 jobs in June, more than the 165,000 increase forecast by economists. May's figure was revised up to 195,000 from a previously reported 175,000. The unemployment rate remained unchanged at 7.6% in June. Fed Chairman Ben Bernanke said last month the bank could begin tapering its USD85 billion-a-month asset purchase program by the end of 2013 and wind it down completely by the middle of 2014 if the economy picks up as the central bank expects. Investors are now looking ahead to Wednesday's minutes of the Federal Reserve's June meeting, for further hints regarding the direction of U.S. monetary policy. The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of commodities as it tends to depress the value of the dollar. Copper traders are also awaiting key data out of top consumer China later in the week. The Asian nation will release reports on consumer prices on Tuesday and trade balance figures on Wednesday. China is the world’s largest copper consumer, accounting for almost 40% of world consumption last year. Elsewhere on the Comex, gold for August delivery rose 1% to trade at USD1,225.35 a troy ounce, while silver for September delivery climbed 1.1% to trade at USD18.94 a troy ounce.

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