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Commodities Finish Lower as Economic Concerns Weigh; Crude Oil, Gold End in Red

Fears about a perceived slowing in the economic recovery weighed on commodities throughout the day, causing crude oil futures to finish below $98 a barrel. Gold also finished in the red.

Light, sweet crude for July delivery finished down 2% to $97.30 a barrel. In other energy futures, heating oil was down 0.87% to $3.07 a gallon while natural gas was down 2.44% to $4.64 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 1.77% to $38.38. The United States Natural Gas ETF (UNG) is down 2.24% at $11.81.

Meanwhile, gold futures ended lower as concern over the economic recovery lingered.

Gold for August delivery finished down 0.9% to $1,515.60 an ounce. In other metal futures, silver was down $4.38 to $34.73 a troy ounce while copper traded down 0.7% to $4.04.

The US Dollar Index was down 0.25% to $74.65.

In metal ETFs, SPDR Gold Trust ( GLD ) is down 0.94% to $147.84. Market Vectors Gold Miners ( GDX ) is down 0.82% to $52.96. iShares Silver Trust (SLV) is down 3.26% to $34.10.

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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