Summary Box: Copper, Silver Rise On Confidence

Published January 18, 2012 8:54PM (EST)

COPPER: Copper for March delivery gained 2.3 cents to $3.7525 per pound. That leaves copper up more than 3 percent for the week.

HOUSING HOPES: Copper is used as a raw material in the construction industry. Traders expect that demand for copper could grow if new home and office construction gains steam in the United States. Hopes for a housing recovery were bolstered when the National Association of Home Builders/Wells Fargo builder sentiment index rose to its highest level since June 2007. The index measure optimism among construction companies.

OIL ABOVE $100: Benchmark oil fell 12 cents to $100.59 per barrel on the New York Mercantile Exchange.

By Salon Staff

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