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Gold Ends Rally, Copper Gains on Chinese Trade Surplus

February 12, 2014 at 6:10 by Vladimir Vyun

Gold declined today on concerns that rising prices may hurt physical demand. The drop capped the five-day rally. The precious metal also declined as Federal Reserve Chairwoman Janet Yellen said that the US central bank will continue to reduce monetary stimulus. April futures for delivery of gold declined $4.2 (0.33 percent) to $1,285.6 per troy ounce as of 6:00 GMT on COMEX today.

Copper prices rose today with the help of positive data from China. The trade balance surplus widened from $25.6 billion to $31.9 billion in January, exceeding traders’ expectations. Copper imports surged 53 percent from a year ago to the record of 536,000 metric tons. March futures for delivery of copper added $0.0185 (0.58 percent) to $3.2335 per pound today.

If you have any questions and comments on the commodities today, use the form below to reply.

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