On Friday, markets shrugged off a worse than expected reading on new home sales as the DJ-UBS Commodity Futures Index rose nearly 0.9% while the dollar slipped against most major currencies. With the exception of tin, base metal prices advanced on the LME today as LME 3-mo. copper and aluminum last traded at $7,353/mt (=$3.35/lb.) and $1,897.50/mt (=86.1 cents/lb.), respectively. Precious metal prices fared even better as gold futures traded as high as $1,398.70/to today while silver futures jumped 4% higher to over $24/to. Crude oil prices also firmed to over $106/bbl, a gain of more than 1% on the day. On Wall Street, the Dow Industrials, Nasdaq and S&P 500 were all holding onto modest gains in early afternoon trading while the yield on 10-year Treasury notes reportedly eased to 2.82%…
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