Commodities, from oil and copper to zinc and nickel, act as an essential barometer of global growth and provide a real-time glimpse of how the global economy is faring.

Recent action in the commodity sector has been downright bullish, suggesting that the world economies have seen the worst of the global recession and that greener pastures lie ahead.

For example, copper bottomed out in early March at $1.60 per pound, and the June HG future contract is trading at about $2.09 per pound. A critical commodity for infrastructure and housing, copper is definitely worth keeping an eye on as an indicator of global growth.

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