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RTRS: US gold, copper futures higher on Greek bailout agreement
 
Thu Feb 9, 2012 8:36am EST
Feb 9 (Reuters) - U.S. gold and copper futures both
rose on Thursday, boosted by optimism that Greek political
leaders have clinched a deal on austerity measures needed to
secure a rescue package.

FUNDAMENTALS
* Gold futures rose as the dollar fell versus the euro after
news of the Greece deal.
* All eyes will be on what the ECB is willing to do to help
Greece when it holds its monthly policy meeting, with interest
rates expected to stay on hold at 1245 GMT ahead of a major
funding operation later this month.
* Copper prices edged up was restrained by rising inflation
in top consumer China.
* In China, annual inflation spiked to a consensus-busting
4.5 percent in January as spending jumped during the Chinese
Lunar New Year holiday season, breaking a five-month softening
trend.

ECONOMY
* New U.S. claims for unemployment benefits unexpectedly
fell last week, a government report showed on Thursday, further
evidence the labor market was gaining traction.

MARKETS
* European stock markets and the euro were steady after news
Greek political parties clinched a deal to implement austerity
measures.
* Crude was supported by worries about Iran and Middle East
supply disruptions, along with apparent progress toward a Greek
debt deal and expectations of more easing from the ECB.
Source