December copper futures are rebounding after a tough week, increasing more than 7% on the COMEX to $3.45 per pound. The price of the industrial metal is benefitting from last night’s reports of better-than-expected Chinese PMI and Japanese exports data. This morning, equipment manufacturer Caterpillar, a bellwether of the global economy, beat earnings and guided for a sharply positive 2012.
Take a look:
- December gold contracts: Up 1.0% to $1,652 an ounce
- December silver contracts: Up 1.5% to $31.65 an ounce
- January platinum contracts: Up 2.3% to $1,543 an ounce