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Silver Drops in Commodity Retreat as Chinese Manufacturing Slows

Silver slumped, copper extended a third day of losses and crude oil dropped after data showed slower manufacturing growth in China, the world’s biggest user of metals and energy.

The Standard & Poor’s GSCI Index of 24 raw materials fell 0.8 percent to 604.3 as of 3 p.m. London time, snapping three days of gains and bringing this month’s drop to 7.8 percent. Cash silver tumbled as much as 3.5 percent, copper for delivery in three months fell 2.5 percent and West Texas Intermediate crude lost as much as 1.1 percent. Goldman Sachs Group Inc. today cut its “near-term” outlook for commodities.