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Commodities Finish Lower as Crude Oil Slips on Demand Concerns; Dollar Weighs on Gold

Commodities finished lower as crude oil futures slipped on demand concerns while a stronger dollar helped to torpedo gold futures.

Light, sweet crude for August delivery finished down 4.6% to $91.02 a barrel. In other energy futures, heating oil was down 5.68% to $2.78 a gallon while natural gas was down 2.73% to $4.19 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 3.67% to $35.74. The United States Natural Gas ETF (UNG) is down 2.74% at $10.66.

Meanwhile, gold futures finished down as bullion broke a week-long winning streak.

Gold for August delivery finished down 2.1% to $1,520.50 an ounce. In other metal futures, silver was down 4.46% to $35.11 a troy ounce while copper traded down 1.11% to $4.06.

The US Dollar Index was up 0.71% to $75.56.

In metal ETFs, SPDR Gold Trust ( GLD ) is up 0.19% to $151.05. Market Vectors Gold Miners ( GDX ) is up 2.04% to $55.11. iShares Silver Trust (SLV) is up 0.28% to $35.61.

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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