Commodities Head for Biggest Drop in Almost Four Weeks, Led by Metal Slump
Commodities fell, heading for the biggest drop in four weeks, as the dollar’s rally and Europe’s debt woes eroded prospects for raw materials.
The Standard & Poor’s GSCI index of 24 energy, metal and agriculture prices dropped 1.9 percent to 635.89 at 9:12 a.m. New York time. A close at that level would mark the biggest decline since Nov. 17.
Silver plunged as much as 5.8 percent, and industrial metals tumbled. Gold extended a slump to a seven-week low.
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