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CNBC reported metal prices surged Thursday on news of a financial bailout plan in Europe.
CNBC reported metal prices surged Thursday on news of a financial bailout plan in Europe.
As quoted in the market news,
Industrial metals like copper and palladium rose because traders think the bailout could help contain Europe’s financial woes. That would boost economic growth, and increase demand for raw materials. Industrial metals prices also rose because of news that the U.S. economy expanded at an annual rate of 2.5 percent in the July-September quarter, the strongest growth in a year.
Click here to read the full CNBC report.