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Metals Rise on Stronger Chinese Economic Data

Metals Rise on Stronger Chinese Economic Data

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Updated October 18, 2023 at 3:22 a.m. ET

07:19 GMT – Base metal prices are rising as data from China shows the country’s economy performed better than expected in the third quarter of this year. Three-month copper is up 1% at $8,037.50 per metric ton, while aluminum is up 0.5% at $2,187.50 per ton. Chinese data showed the economy grew 4.9% last quarter, putting the country on track to achieve 5% growth this year, the government’s official target. Meanwhile, safe-haven demand is keeping gold prices higher, rising 0.6% to $1,948.30 per troy ounce. ANZ says “gold is benefiting from safe-haven flows triggered by geopolitical tensions,” adding that central bank purchases are also providing support. (yusuf.khan@wsj.com)

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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