NEW YORK (Nov 21): The biggest copper rally in almost six years is leaving hedge funds squaring off with Goldman Sachs Group Inc.

Futures in New York jumped 18% in just a month. The gains were propelled by a drop in London Metal Exchange-monitored inventories and speculation that Donald Trump’s pledges on infrastructure building will increase metals demand. The president-elect seems to have convinced money managers, who boosted their wagers on further price gains to the largest ever.

The surge reflects an abrupt change in sentiment -- just three weeks ago investors were betting on price declines. While other metals had climbed earlier in 2016, copper was mainly dormant, even as Chinese imports rose.

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