Commodities Soar as Chinese Data Show Pleasant Surprise

Market sentiment buoyed as Chinese macroeconomic data surprised to the upside, temporarily overshadowing ongoing debt problems in the Eurozone. Oil prices climbed with the front-month contract for WTI crude oil rising to 97.96 and the equivalent Brent crude contract to as high as 118.41. Gold strengthened further with the benchmark Comex contract extending gains to 1575.9. Price is approaching the record high of 1577.4.

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Commodities Soar as Chinese Data Show Pleasant Surprise