NEW YORK: US gold and copper futures rose on optimism about a nearly completed Greece's debt deal to avert a chaotic default.
FUNDAMENTALS
US gold futures up, led by a climb in the euro on the back of growing confidence in Greece's ability to complete a bond swap to avoid defaulting on its debt.
Bullion's decline to six-week lows earlier this week lifted investor demand.
Copper futures rose more than 1 percent as investor confidence improved on hopes that Greece would complete a
debt swap and with a weaker dollar also supporting base metals.
ECONOMY
New US claims for unemployment benefits unexpectedly rose last week, but not enough to change perceptions that the labor market was strengthening.
MARKETS
Stock markets and the euro gained on hopes that Greece would pull off a bond swap needed to avoid a default and that news on the US economy would continue to improve.
Oil rose on hopes that Greece would win enough creditor support to avoid a messy default on its debt and on continuing fears of supply disruptions from Iran.
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