Commodities Cap Biggest Weekly Slide Since January on Oil Drop
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Commodities fell, capping the biggest weekly decline since mid-January, as easing tensions in the Middle East sent oil lower and a stronger dollar eroded the appeal of raw materials.
The Standard & Poor’s GSCI Spot Index of 24 commodity futures dropped 1.2 percent to settle at 704.37 at 4 p.m. in New York, led by declines in silver, energy products and cotton. The gauge fell 1.6 percent for the week, the biggest slump since the five days ended Jan. 13.