Copper surging amid Covid-19 pandemic
With the global economy struggling against the coronavirus pandemic, there are a few bright spots for bullish investors. The price of copper popped recently, driving optimism for the global economy moving forward. Copper is seeing the quickest rally it has had in years as the industrial metal is surging. China’s industrial output bounced back as the global economy is handling the consequences of Covid-19. Meanwhile, the US Commerce Department announced that retail sales for the world’s largest economy grew in June. However, weekly jobless claims are still coming in above 1 million, a sign that the long-term damages are beginning to mount.
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