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Commodities drop to four-month low on climbing supplies, prospect of reduced Fed stimulus

Posted on 04 November 2013

Commodities dropped to a four-month low, paced by declines in crude oil and gold, on signs of climbing supplies of raw materials at a time when the prospect of reduced Federal Reserve stimulus may cut demand. The Standard & Poor’s GSCI Spot Index of 24 raw materials lost 1.7% to settle at 612.24 at 4 p.m. in New York, after touching 611.58, the lowest since July 1.
West Texas Intermediate fell below $95 a barrel for the first time since June. Gold reached a twoweek low. Hog futures capped the longest slump in three months, and cotton slumped to the lowest since January. Production is poised to top demand for everything from coffee to zinc as ample rains this year boosted global crops and demand waned for metals, grains and energy………………………………………..Full Article: Source


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