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March 15 (Reuters) - Copper prices rose on Monday to the
highest levels in almost two weeks, building on last week s
gains as top metals consumer China released upbeat economic
activity data and as concerns over global supply resurfaced.
China s industrial output grew 35.1% in January-February
from a year ago, beating a 30% surge expected in a Reuters poll
and faster than the 7.3% gain in December.
Three-month copper on the London Metal Exchange was
up 1.1% at $9,185.50 a tonne, as of 0218 GMT, after earlier
rising to $9,199.50, the strongest since March 3.
The most-traded May copper contract on the Shanghai Futures
Exchange climbed 1.5% to 68,070 yuan ($10,472.79) a
Gold gains on inflation worries after US stimulus approval
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Last Updated: Mar 15, 2021, 07:28 AM IST
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Synopsis
Spot gold rose 0.3% to $1,732.02 per ounce by 0134 GMT, while U.S. gold futures for April delivery rose 0.7% to $1,730.90 per ounce.
Gold is generally considered a hedge against inflation.
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FUNDAMENTALS
Spot gold rose 0.3% to $1,732.02 per ounce by 0134 GMT, while U.S. gold futures for April delivery rose 0.7% to $1,730.90 per ounce.
Yields on benchmark 10-year notes held near their highest in more than a year on continued U.S. economic optimism after a $1.9 trillion recovery package was signed into law last week.
Gold is generally considered a hedge against inflation, although higher bond yields have challenged that status recently as they increase the opportunity cost of holding non-yielding bullion.