Global Stocks, gold, copper, oil, corn, metals were up sharply today

 Sahit Muja

Sahit Muja: Global Stocks, gold, copper, oil, corn, metals were up sharply today

Global stocks surged on Friday, lifted by economic figures that eased concerns about growth in China and earnings by US banks

Wells Fargo & Co.'s second-quarter profit rose 17% from a year earlier, as the nation's biggest mortgage company benefited from falling interest rates and rising use of a government refinancing program.

China's economic growth at 7.6% year-over-year in the second quarter.Gold futures posted gains, rising for the first in four sessions, on a pullback in the U.S. dollar and inline data on China’s economic growth.

Gold for August delivery climbed $26.80 or 1.71%, to settle at $1,591.70 an ounce on the New York Mercantile Exchange.The price of oil climbed on news about supply reductions around the world.

Crude oil at $87.10 per barrel in New York, Gasoline finish at $2.8161 per gallon. Heating oil rose by 1.49 cents to end at $2.7882 per gallon. Natural gas at $2.874 per 1,000 cubic feet.
Corn prices jumped again, hitting their highest level since last August

London Metal Exchange copper price is up sharply today at $7,725 up $145.
In New York, the COMEX September contract jumped 8.90 cents or 2.6 percent to settle at $3.5040 per lb, near the upper end of its $3.4125 to $3.5075 session range.

COMEX copper volumes reached 47,500 lots in late New York trade, a shade above the 30-day norm, according to preliminary Thomson Reuters data. Zinc closed up $31 at $1,874 a tonne. Silver was up 1 percent at $27.39 an ounce.

Sahit Muja
President and CEO
Albanian Minerals
New York