Copper Rallies to Two-Month High
Source: Copper Investing News, Leia Toovey (8/26/11)
"Copper was boosted by a 'better than expected' jobless report and is approximately 13% off of its record high."
Fresh data suggesting that the U.S. economy may hold up in the face of global economic uncertainty sent copper futures to a two-week high on Thursday. Copper was boosted by a "better than expected" jobless report.
On the LME, three-month copper closed at $9,030 per ton, after hitting $9,075, its highest since Aug. 8 and breaching $9,000 for the first time in a week. Copper has struggled to stay above the key $9,000 price level since the downgrade to the U.S. Economy, and is approximately 13% off of its record high of $10,190 a ton hit in February. . .View full article