Copper up by 6 percent
Prices of industrial and precious metals moved in opposite directions on Tuesday as copper gained 6 percent on inventory drawdowns while gold fell 3 percent as investor interest in exchange-traded gold funds weakened.
Stephen Briggs, analyst at London’s RBS Global Banking & Markets, stated:
We’ve had a pretty sharp fall in recent days in copper stocks and more importantly there was a very sharp rise in cancelled warrants.
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Tue, Mar 3, 2009
Post by Mike Rodger, Copper Reporter