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Eric and David Coffin reported that Smoke from the Copper and Gold Markets:
Eric and David Coffin reported that Smoke from the Copper and Gold Markets:
The dollar denominated copper price benefited from a Euro recovery beginning in mid July. Other base metals also gained from the falling Dollar. Traders had become more cautious about gold after its long uptick, but some greater comfort with the economy after Europe managed to push back from the brink also helped the brief move into base metals. However, internal fundamentals are also playing a role copper’s price move.
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