Markets

Commodities Decline as Gold Drops to 3-Month Low; Crude Futures Close Below $78 a Barrel

Commodities slid further throughout the trading session as crude oil and gold futures closed lower.

Earlier in the day, markets had been affected by disappointing consumer confidence numbers, which sapped the prior-session momentum.

Crude-oil for September delivery closed down $1.48, or 1.9% at $77.50 a barrel on the New York Mercantile Exchange.

In other energy futures, heating oil was down $0.04 to $2.00 a gallon while natural gas rose $0.05, to $4.66 per million British thermal units.

Meanwhile, gold futures fell to a three-month low as the metal slid below a key support level, reports MarketWatch.

Gold for August delivery fell $25.10 to $1,158 an ounce. In other metal futures, silver fell 3.2% to $17.63 a troy ounce while copper fell $0.01 to $3.21 a pound.

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

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