Commodities strengthened for on Monday as macroeconomic data in China beat market expectations, indicating growth in the world’s second largest economy remains in progress despite the government’s cooling measures. Moreover, the trade data released earlier last week was encouraging. Strong imports boosted optimism on the country’s commodity demand outlook. The front-month contract for WTI crude oil extended rally to 77.3, the highest level since August 12. Copper also advanced for the first time in 3 days. Gold changed little, hovering at 1245.
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Commodities Rise as Strong Chinese Data Boosts Optimism
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