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Gold is primarily seen as a hedge against inflation or poor stock market performance. The highly sought after precious metal which, forms the basis for a monetary standard used by the International Monetary Fund (IMF) and its currency code is XAU.
Silver played a significant role in affecting currencies and has consistently moved in tandem with gold prices. Silver is known as a precious metal that is considered as an important investment metal with a currency code of XAG.
The New York Mercantile Exchange (NYMEX), where copper contracts are traded, states that copper is the third most widely used metal in the world. copper commodity price is so closely tied to the state of the economy, global economic recovery can be a clear signal that demand for copper is due to increase.