Economic Worries Hit Oil, Pushing Gold Higher by Close of Commodities Trading

By Staff,

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Commodities ended mixed with crude losing ground and gold gaining as the broader market suffers under employment worries.

Crude oil for November delivery closed down 0.5%, or $0.32, to settle at $82.69 a barrel.

In other energy futures, heating oil was down 0.48% to $2.28 a gallon while natural gas fell 0.38%, to $3.68 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.47% to $35.99. The United States Natural Gas ETF ( UNG ) was down 0.51% to $5.83.

Meanwhile, gold futures hit another record by the close of commodities trading.

Gold for December delivery closed up 0.5% to $1,377.60 an ounce. In other metal futures, silver rose 2.5% to $24.53 a troy ounce while copper fell 0.13% to $3.81 a pound.

In metal ETFs, SPDR Gold Trust ( GLD ) was up 0.4% to $134.60. Market Vectors Gold Miners ( GDX ) was down 0.89% to $58.07. iShares Silver Trust ( SLV ) was up 2.04% to $23.97.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: GDX , GLD , SLV , UNG , USO

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