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Commodities tumble to six-week low as oil declines on European debt crisis

Posted on 21 June 2011

Commodities declined to the lowest level in six weeks led by losses in crude oil and copper after European governments failed to agree on a loan payment to spare Greece from default, increasing concern over economic growth.
The Standard & Poor’s GSCI Index of 24 raw materials dropped as much as 1.2 percent to 661.35 and was at 663.64 at 1:10 p.m. in London. The gauge slumped 4.7 percent last week, the first loss since the period ended May 6……………………………………….Full Article: Source


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