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Almost all news is good news

Commodities rallied further in the past week, notably oil, helped by positive investor sentiment and further dollar weakness. Gold and (particularly) silver were again among the biggest gainers, boosted by rising inflation expectations and, in the case of silver, optimism about industrial demand. Steel also benefited from hopes of increased construction and infrastructure demand, although iron ore prices in China dropped back as the authorities raised exchange transaction fees to dampen speculation.

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