Copper Extends Rally to Four-Month High on U.S. Housing, Jobs
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Copper rose, extending a rally to a four-month high, as U.S. housing and jobs data signaled an improving economy, easing concern that demand for the metal will ebb.
Pending U.S. home sales unexpectedly increased, snapping two months of declines, an industry report showed. Initial jobless claims fell by 6,000 to 472,000 in the week ended Aug. 28, the government said. The U.S. is the world’s second-largest metal user.