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Copper prices slid on Wednesday as market participants weighed the impact of China's interest rate hike announcement on demand for the metal. The most-actively traded copper contract, for March delivery, declined 5 cents, or 1%, to settle at $4.5240 a pound on the Comex division of the
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China's People's Bank of China announced a 25 basis point interest rate hike, the third such increase since October, to cool its rapidly expanding economy. This move sent shockwaves through commodity markets, with many experiencing significant price drops, including copper, cotton, and light sweet crude. However,
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Gold futures fell slightly on Wednesday due to a stronger US dollar and concerns over Egypt, with investors seeking safe-haven assets. Despite Egypt's political instability, analysts suggest that gold may be forming a bottom, while a stronger dollar pressured the metal's price. Additionally, investors regained confidence
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Gold futures declined slightly on Wednesday due to concerns over political instability in Egypt and stronger-than-expected economic data. Despite being considered a refuge investment, gold has come under pressure this month as investors regain confidence in the stock market and buy growth-sensitive commodities like copper. A stronger dollar, which makes
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The US economy's growth in the fourth quarter helped copper prices maintain their gains despite concerns over unrest in Egypt, which pressured the stock market. The most actively traded copper contract for March delivery rose 3.45 cents, or 0.8%, to settle at $4.3730 a pound
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A surge in optimism about the global economic outlook helped copper futures advance despite disappointing durable goods and jobs data. The March copper contract on the Comex division of the New York Mercantile exchange rose 8.1 cents, or 1.9%, to $4.3480 a pound. Industry experts attributed the
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Financial markets took a hit as Goldman Sachs and American Express reported disappointing revenue and quarterly guidance, respectively. The Dow Jones Industrial Average declined by 15 points, or 0.1%, to 11,823, while the S&P 500 dropped 14.7 points, or 1.1%, to 1,280. Bank
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Copper is expected to be a defensive strategic investment due to its strong demand from China, the world's largest metal consumer. Analysts at UBS AG are recommending copper as a key investment opportunity for those concerned about inflation. Additionally, Chile's state copper company, Corporacion Nacional del
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Copper prices saw significant fluctuations amidst record-breaking demand from various industries, while key players in the market faced numerous challenges. Inmet Mining Corp.'s planned merger with Lundin Mining Corp. will create a top-tier copper producer worth C$9 billion, and demand for the metal shows no signs of
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Copper futures surged on Tuesday, driven by growing investor optimism about demand for the industrial metal. The rally came as strong earnings from aluminum company Alcoa Inc. boosted the stock market and eased concerns about euro-zone sovereign debt, while the economic recovery also fueled increased demand for aluminum and copper.
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Gold prices rose 0.4% Friday, or $5.30 per troy ounce, to $1,377.00 on the Comex division of the New York Mercantile Exchange, following Federal Reserve Chairman Ben Bernanke's comments about the slow pace of the U.S. recovery. The mixed jobs data released earlier
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Investors shifted their preference from the refuge of gold to equities and industrial commodities after robust jobs data showed U.S. employers added 297,000 private sector jobs in December, exceeding analysts' forecast of 100,000 jobs. The data caused the dollar to strengthen, further pressuring dollar-denominated gold by
