| From washtimes.com: Commodities prices fell broadly as a stronger dollar and a steep sell-off in crude oil encouraged investors to dump hard assets in favor of stocks.
Crude tumbled as much as $4 a barrel during the day, dragging down other commodities from gold, silver, copper, soybeans and wheat. Corn futures traded higher.
The sell-off seemed to confirm analysts' belief that once frenzied futures markets are beginning to cool, weighed down by concerns that rocketing prices for energy, grains and precious metals rose too high, too fast to sustain demand.
Gold for August delivery dropped $11.20 to settle at $916.50 an ounce on the New York Mercantile Exchange, after earlier falling to $913.10, its lowest level in three weeks......Full Article Source |