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Commodities post first drop in 5 years as corn to gold tumble

Posted on 02 January 2014

Commodities posted the first annual drop in five years as supply exceeded demand for corn to sugar to nickel and investors lost faith in precious metals as a store of value amid signs that economies are improving.
The Standard & Poor’s GSCI Spot Index of 24 raw materials fell 0.6 percent to settle at 632.29 at 4 p.m. New York time, capping a 2.2 percent decline this year. Corn led the retreat with a 40 percent plunge, followed by silver and gold. Commodity-fund investments fell by a record $88 billion to $332 billion in the 11 months ended Nov. 30, Barclays Plc estimates………………………………………..Full Article: Source


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