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Commodities End Lower as Gold, Crude Oil Futures Weighed by Economic Data

Commodities finished trading lower as disappointing macroeconomic news weighed on crude oil and gold futures.

The April Philly Fed index fell 0.3%, the first decline since June. Economists polled by MarketWatch had expected the index to show no growth in April. The index sank to 3.9 in May from 18.5 in April, well below expectations of an increase to 20.1.

Also, sales of existing single-family homes and condos fell 0.8% in April to a seasonally adjusted annual rate of 5.05 million units, the National Association of Realtors said. Economists surveyed by MarketWatch expected sales to rise to 5.25 million units in April, based on a surge in pending home sales in March.

Light, sweet crude for June delivery finished down 1.7% to $98.44 a barrel. In other energy futures, heating oil was up 0.04% to $2.90 a gallon while natural gas was down 2.22% to at $4.10 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.11% to $39.06. The United States Natural Gas ETF ( UNG ) is down 2.22% at $10.59.

Meanwhile, gold futures pared some prior-session gains to finish lower for the session

Gold for June delivery finished down 0.2% to $1,492.40 an ounce. In other metal futures, silver was down 0.6% to $34.88 a troy ounce while copper traded down 1.38% to $4.04.

The U.S. dollar index (DXY) is down 0.43% to $75.15.

In metal ETFs, SPDR Gold Trust ( GLD ) is down 0.11% to $145.45. Market Vectors Gold Miners ( GDX ) is down 0.2% to $55.28. iShares Silver Trust ( SLV ) is down 0.73% to $33.98.

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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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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