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Global recovery signs add to bullish bets on copper

Posted on 11 March 2013

Copper analysts are the most bullish in five weeks because of mounting optimism the global economy is strengthening, diverging from hedge funds holding their biggest wager on a retreat since August. Thirteen analysts surveyed by Bloomberg expect prices to rise next week. Four forecast declines and three were neutral, for the highest proportion of bulls since February 1.
Goldman Sachs Group recommended on March 1 buying the metal for a 16% gain in six months. Speculators are betting on a drop for the first time since November after inventories monitored by the London Metal Exchange advanced to a morethan two-year high………………………………………..Full Article: Source


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