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Commodities Finish Mixed; Gold Backs Off Prior-Session Record; Crude Jumps

Commodities finished the session mixed as crude oil futures jumped along with strong buying in the equities market, sending gold futures lower.

Light, sweet crude for September delivery finished up 3.4% to $85.72 a barrel. In other energy futures, heating oil was up 0.9% to $2.89 a gallon while natural gas was up 3.17% to $4.13 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 4.72% to $33.28. The United States Natural Gas ETF ( UNG ) is up 3.17% at $10.42.

Meanwhile, gold futures backed off of prior-session highs as bullion was pressured by positive momentum in equities.

Gold for August delivery finished down $32.80 to $1,751.50 an ounce. In other metal futures, silver was down 2.36% to $38.40 a troy ounce while copper traded up 3.29% to $4.03.

The US Dollar Index was down 0.26% to $74.65.

In metal ETFs, SPDR Gold Trust ( GLD ) is down 2.96% to $169.41. Market Vectors Gold Miners ( GDX ) is down 0.34% to $59.10. iShares Silver Trust ( SLV ) is down 1.96% to $37.69.

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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