Summary Box: Metals surge on bank plan

AP News
Posted: Nov 30, 2011 9:35 PM
Summary Box: Metals surge on bank plan

METALS SURGE: Palladium for March delivery surged nearly 5 percent Wednesday to close at $612.60 an ounce. Copper for March delivery rose 18.5 cents to close at $3.5755 per pound. Copper is up 9.3 percent since Monday. Platinum for January delivery gained $20.10 to settle at $1,560.80 an ounce.

BANK PLAN: Traders think a coordinated plan by the world's central banks to lower borrowing costs will boost global growth. That could increase demand for raw materials like palladium and copper.

OIL ABOVE $100: Benchmark crude oil rose 57 cents, or less than 1 percent, to end at $100.36 per barrel on the New York Mercantile Exchange.