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Commodities rise to two-week high on central bank liquidity

Posted on 01 December 2011

Commodities rose to the highest in almost two weeks after the Federal Reserve cut the cost of emergency funding for banks in Europe as part of a global effort to stem the region’s sovereign-debt crisis.
The Standard & Poor’s GSCI index of 24 raw materials rose 0.7 percent to settle at 658.02 at 4:04 p.m. New York time. Earlier, the measure reached 664.56, the highest since Nov. 17. Industrial and precious metals led the rally. In the two weeks ended Nov. 25, the GSCI gauge dropped 4.5 percent as borrowing costs surged in Europe, imperiling the euro and banks………………………………………..Full Article: Source


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VRS - who has written 38163 posts on Opalesque Commodities Briefing.


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