Prices are higher for industrial metals as positive signs emerged from a batch of global economic news.
December copper rose 2.75 cents to finish Monday at $3.7855 per pound. Platinum, palladium and silver also rose.
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New reports showed that U.S. manufacturing rose last month, but overall construction spending dropped in August. Also, manufacturing remains anemic in China, which is a huge importer of commodities.
Gold prices are higher as Federal Reserve Chairman Ben Bernanke defends the Fed’s stimulus measures. He notes that the economy isn’t growing fast enough to reduce high unemployment. Investors often buy gold as a hedge against inflation.
In other trading, prices are higher for oil, natural gas and corn. Prices are lower for wheat, soybeans and heating oil.
