Summary Box: Industrial metals rise on inflation

Summary Box: Industrial metals close up on expectation that inflation will boost their value

By The Associated Press | Associated Press – Sat 28 Jan, 2012 3:42 AM IST

METALS HIGH FOR WEEK: Industrial metal prices are ending the week sharply higher on expectations that inflation will rise. Copper ended the week 4 percent higher Friday, while palladium ended up 2 percent. Platinum rose 6 percent.

INFLATION: Metals are priced in dollars, so inflation makes them pricier. When the dollar loses its value, it takes more dollars to buy the same amount of copper or platinum. Inflation fears were stoked this week when the Fed said it will keep interest rates low for years.

GAS UP: Natural gas gained 10.2 cents to $2.756 per 1,000 cubic feet, leaving it up 16 percent for the week.

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