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Commodities Finish Higher as Mixed Data Helps Crude; Weaker Dollar Boosts Gold

Commodities finished trading higher as gold and crude oil managed to log gains before the close of trading. Oil advanced following mixed economic data.

The Commerce Department released data this morning showing US retail sales fell 0.2% last month to $387.1 billion. marking the first decline after 11 straight months of gains. But figures still topped economists' call for total sales to fall 0.7% in May, according to a MarketWatch. Without a 2.9% drop in motor vehicle sales, retail sales increased 0.3%.

Light, sweet crude oil for July delivery finished up 2.1% to $99.37 a barrel. In other energy futures, heating oil was up 0.27% to $3.11 a gallon while natural gas was down 1.61% to $4.57 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is up 2.3% to $39.14. The United States Natural Gas ETF (UNG) is down 1.19% at $11.64.

Meanwhile, gold futures finished higher, helped by a weaker dollar.

Gold for August delivery finished up 0.6% to $1,524.40 an ounce. In other metal futures, silver was up 1.92% to $35.40 a troy ounce while copper traded up 3.1% to $4.17.

The US Dollar Index was down 0.2% to $74.30.

In metal ETFs, SPDR Gold Trust ( GLD ) is up 0.45% to $148.43. Market Vectors Gold Miners ( GDX ) is up 1.6% to $53.37. iShares Silver Trust (SLV) is up 1.92% to $34.52.

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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