Back to Main

Commodities Finish Lower as Gold Hits Seven-Week High; Crude Falls

By: MT Newswires
Posted: 8/18/2010 3:16:00 PM
Referenced Stocks: GDX;GLD;SLV;UNG;USO

Commodities were mixed at the close as crude futures fell and gold rose.

Crude-oil for September delivery closed down $0.35, or 0.5% at $75.42 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil was down $0.01 to $2.02 a gallon while natural gas fell 0.68%, to $4.23 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 53% to $33.69. The United States Natural Gas ETF ( UNG ) was down 0.91% to $7.12.

Meanwhile, gold futures closed at a seven-week high.

Gold for December delivery closed up $3.10 to $1,231.40 an ounce. In other metal futures, silver fell $0.19 to $18.45 a troy ounce while copper rose $1 to $3.37 a pound.

In metal ETFs, SPDR Gold Trust ( GLD ) was up 0.37% to at $120.20. Market Vectors Gold Miners ( GDX ) was up 1.51% to $52.06. iShares Silver Trust ( SLV ) fell 0.61% to $18.01.