Orders for new U.S.-made durable goods jumped 4.9% in July, the largest increase in two years, the Commerce Department reported. Chinese shares led most Asian markets higher Wednesday with stocks in Shanghai rebounding. On the Comex division of the New York Mercantile Exchange, August copper rose 1.65 cents, or 0.6%, to $2.8705 a pound. The contract expires Thursday. The more active September contract gained 0.6% to $2.8725 a pound. August copper had ended at $2.914 Monday, the highest settlement for a front-month contract since late September. In gold futures Wednesday, the most active December contract gained $2.80, or 0.3%, to $948.80 an ounce. Gold has traded in small ranges this week. "The range-bound conditions which have hitherto characterized the summer's action in gold continue to persist," said Jon Nadler, senior analyst at Kitco Metals Inc. "The market still needs fresh drivers, the earliest of which are not expected until after the final holiday of the season, when the majority of participants will return and start playing once again." Limiting gold's gains, the U.S. dollar stayed higher against most of its major rivals. The dollar index (DXY 78.52, +0.28, +0.35%) gained 0.3% to 78.514. A stronger dollar tends to add downward pressures on gold prices. Holdings in SPDR Gold Trust (GLD 92.96, +0.20, +0.22%) , the biggest exchange-traded fund backed by the metal, fell to 1,061.83 metric tons Tuesday, down 4.58 metric tons. That's the lowest level since March 13. Among other metals, silver for September delivery gained 3 cents, or 0.2%, to $14.345 an ounce. October platinum fell $3.80, or 0.3%, to $1,244 an ounce, while September palladium lost $3.45, or 1.2%, to $285.32 an ounce.

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