Investing.com - Copper futures were little changed in subdued trade on Thursday, with volumes expected to remain light as holidays in many countries limit activity. On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.375 a pound during U.S. morning trade, flat on the day. Comex copper prices traded in a range between USD3.368 a pound and USD3.375 a pound. Copper prices were likely to find support at USD3.304 a pound, the low from December 24 and resistance at USD3.420 a pound, the high from December 24 and the strongest level since April 12. The March contract surged to an eight-month high of USD3.420 a pound on Tuesday, before settling at USD3.374 a pound, up 2.01%. Copper’s strong gains on Tuesday were attributed to an erroneous trade, which then triggered a late-session rally. The CME Group, operator of the Comex, said that an “error trade� had occurred Tuesday morning at around 11:49AM EST, and that the exchange was adjusting any trades that took place above USD3.42 at that time downward to USD3.42, according to a spokesman. There was no floor or electronic trading on Wednesday because of the Christmas holiday. Volumes were expected to remain light on Thursday, with year-end positioning and profit-taking driving flows. Market players looked ahead to weekly U.S. data on initial jobless claims later in the day to gauge if the U.S. economy will be strong enough to allow the Federal Reserve to continue withdrawing support through 2014. Copper prices have been well-supported in recent weeks amid indications the U.S. economic recovery is deepening. The U.S. is second behind China in global copper demand. Elsewhere on the Comex, gold for February delivery rose 0.25% to trade at USD1,206.30 a troy ounce, while silver for March delivery added 0.1% to trade at USD19.50 a troy ounce.

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