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Copper leaps on index rebalancing

Posted on 07 January 2009

From Theglobeandmail.com: Copper climbed to its highest level in nearly five weeks on Tuesday, buoyed by economic stimulus optimism and an annual portfolio rebalancing by major commodity index funds, but the rally was expected to be short-lived as demand concerns remain.

The Dow Jones AIG recalculates the weightings for the individual commodities in its index yearly and is set to raise the weighting for copper traded on the New York Mercantile Exchange’s Comex division….. Full Article: Source


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