Commodity prices have bounced back substantially since collapsing in early March, benefiting from a combination of stabilizing fundamentals and a weak US Dollar. However, the re-imposition of lockdown measures in several states in the US, as global cases of the novel coronavirus surge past 10 million, threatens to destabilize the 3-month rally in metal prices. The negative correlation between the haven-linked US Dollar and the price of copper and silver highlights the sensitivity of commodities to overall market sentiment. In essence, positivity and certainty drive metal prices higher whilst risk aversion puts a ... (full story)