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Silver, copper prices mark an impressive recovery from March lows

Industrial metal prices have seen an impressive recovery in recent weeks. Silver has nearly erased its loss for the year, and copper is looking to recoup the bulk of the declines it suffered during the peak of the coronavirus pandemic’s toll on the global economy.

The drop in global mining production from the shutdowns helped buoy prices of both commodities, says Rohan Reddy, research analyst at exchange-traded fund provider Global X, and the sharp climb “indicates the market views the deterioration in economic data being short-lived.”

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