Commodities rallied today on hopes that the Greek lawmakers will accept the austerity measures required to get the bailout and on the outlook for higher demand. Crude oil, copper and gold were among gainers. The weakness of the dollar also helped commodities.
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August contract for crude oil delivery rose $2.28 to $92.89 per barrel on NYMEX. August futures for gold went up $3.80 (0.3 percent) to $1,500.20 per ounce as of 13:38 on COMEX. Contract for delivery of copper in three months climbed 0.6 percent to $9,020 before trading at $9,019 on LME.
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