Metal goes up, Oil comes down
Rising metal prices helped boost the commodity sensitive Canadian dollar Tuesday morning.
The loonie advanced 0.36 of a cent to 100.44 cents US.
Copper prices continued to surge with the March contract up six cents to $3.94 a pound.
Prices for the metal are up about 3.5 per cent this month on signs of improving economic growth in the U.S. and hopes that China will further relax lending standards to encourage growth.
China is the world’s biggest consumer of the metal.
Gold prices also advanced as the April contract rose $7.40 to $1,782.30 an ounce.
