COPPER hit a high above 8000 a ton for the first time since August 2008 on mounting evidence that demand is reviving as the global economy recovers.
Gold rose and oil continued its 18- month climb after a brief downturn earlier yesterday as the dollar strengthened.
Copper, which is mostly used to make electric cables, rose 5,5% in the first quarter as a combination of improving macro data, a weaker dollar, and fund and Chinese buying supported prices.
Last week, data showed that China’s vast manufacturing sector picked up speed last month, raising concern the country might further tighten monetary policy.
Gold climbed to a one-month high, erasing a decline, as Greek debt concerns spurred investors to buy the precious metal as an alternative to holding currency.
http://www.businessday.co.za/articles/Content.aspx?id=105478
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