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Commodities

Copper Price Tumbles as US Dollar Strength Tests Key Support Level

Guavy AI Editorial Team
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Gold Silver Copper
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Copper prices dipped towards $6.60 on Monday due to a strong US dollar and weaker data from China, making it tough for buyers to stay in the market.

The decline in copper stocks and contract talks at Escondida mine in Chile may help limit the price drop, but copper's short-term price action shows pressure near its 50-day average.

Copper has gained ground against gold (XAU) and silver (XAG), but holding onto $6.60 is crucial for a potential recovery towards $6.95.

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