Metals Up On Greece Aid, China Move To Spur Growth


Salon Staff
February 22, 2012 1:18AM (UTC)

Metals prices are jumping on expectations that demand may improve after a new Greek bailout package was approved and China took another step to stimulate economic growth.

Silver finished up 3.7 percent Tuesday, while prices for platinum, copper and palladium all rose 3 percent or more. Gold ended up 1.9 percent.

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Investors have been concerned about the impact on commodities from Europe's financial problems and China's economic slowdown.

Those worries are easing after European leaders approved a multi-billion dollar bailout package for Greece. China says it will cut the ratio of funds that banks must hold as reserves to free up more funds for lending.

In other trading, oil, gasoline and soybeans rose. Natural gas, wheat and corn fell.


Salon Staff

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