Copper Prices Spike On Bullish Economic Signals Around The World

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:

Copper December Futures

Photo: FinViz

  • 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

Miner Freeport-McMoRan is up more than 6.5% each in intra-day trading, as mining companies benefit from the gains.

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