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Metals lead broad gains as commodities sector reaches 15-month high
The current commodity sector rally, which kicked off with gold’s solid move higher back in March, continues to gather momentum, and this past week the Bloomberg Commodity Total Return index reached a 15-month high, thereby strengthening the technical outlook while indicating a breakout of its year-long sideways trading pattern. The index which tracks the performance of 24 major futures contracts split almost evenly between energy, metals and agriculture trades up 8.6% so far this year, with strong and broad gains across metals, both precious and recently also industrial metals being the main engine, followed by ... (full story)