In New York, the May COMEX contract shot up 6.70 cents, or 1.8 percent, to settle at $3.8585 per lb on Friday, near the upper end of the session's $3.7880 to $3.8775 range. The day began with uninspiring data out of China that showed factory output and retail sales figures cooled more than forecast and annual consumer inflation slowed sharply to a 20-month low at 3.2 percent in February.
"There's a strong possibility we will see another reserve requirement cut fairly soon," said Peter Buchanan, commodities analyst and senior economist at CIBC in Toronto.