Brent surges 9.6% in a week on demand recovery hopes, base metals shine

Huge stimulus provided by economies across the globe is likely to put more money in consumer's hands, due to which gold and silver prices may spurt further

Commodity prices jumped by 1-3 per cent during the past one week on renewed hope of recovery in demand, with the huge economic stimulus seen supporting the recommencement of global infrastructure activity. The likely rebound will have its roots in the gradual opening of economies worldwide after almost three months of lockdown.

While aluminium prices on the benchmark London Metal Exchange (LME) rose 2.8 per cent to trade at $1,473 a tonne on Friday, copper was up 1.5 per cent to $5,242.5 a tonne. Brent crude shot up by 9.6 per cent in a week to $34.5 a barrel, iron