MW: Copper rallies on China manufacturing; gold gains
Copper futures rallied Monday in New York, climbing to their highest level in more than seven months after China, the biggest copper consumer, reported its May manufacturing expanded for a third month. Copper for July delivery rose 8.25 cents, or 3.8%, to $2.28 a pound. The less active June contract rose 5.25 cents, or 2.4%, to $2.25 a pound, the highest level for a front-month contract since mid-October. Meanwhile, June gold rose $5.90, or 0.6%, to $984.70 an ounce, and the more active August gold contract also gained 0.6% to $986.30.