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Commodities Briefing - Categorized | Commodity Crisis, Currencies, Market Pulse more

Commodities prices dive as dollar surges vs. euro

Posted on 03 October 2008

From Sfgate.com: Commodities prices plunged Thursday as a rapidly strengthening dollar and more gloomy readings on the economy compelled investors to dump positions in gold, grains and energy.

The dollar climbed to a one-year high against the 15-nation euro after the Senate overwhelmingly voted to approve a revised $700 billion financial bailout plan late Wednesday, sending the measure to the House for an expected vote Friday. Commodities prices surged to record highs earlier this year as a weak U.S. currency, record oil prices and global economic uncertainty sent investors scrambling to buy hard assets as a safe, alternative investment….. Full Article: Source


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