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Commodities Briefing - Categorized | Market Moves, Metals and Minerals, Price Watch more

European metal markets rally as wider market mood lifts

Posted on 29 November 2011

The metal markets are rebounding in a commodity-wide rally Monday as risk sentiment picks up and the euro strengthens. Both spot gold and the London Metal Exchange’s flagship three-month copper contract have posted one-week highs, with gold rallying 2.3% to $1,720.77 a troy ounce and copper peaking at $7,480 a metric ton, up 3.5% on Friday’s close.
The metals rose as equity markets and the euro began the week on a strong footing, helped by softening Italian bond yields, reports of a new credit facility by the International Monetary Fund and a strong start to the U.S. retail sales season, known as Black Friday………………………………………..Full Article: Source


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