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Commodities Finish Trading Lower; Gold Falls Biggest One-Day Drop Since 2008; Crude Oil Lower

Commodities ended lower as crude futures gave up early gains to settle down fractionally while gold futures scored the biggest one-day drop since March of 2008 - before the height of the financial crisis.

Light, sweet crude for October delivery finished down 0.3% to $85.16 a barrel. In other energy futures, heating oil was up 0.38% to $2.5 a gallon, while natural gas was down 1.75% to $3.92 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.35% to $32.97. The United States Natural Gas ETF ( UNG ) is down 2% at $9.80.

Meanwhile, gold futures slumped over 5% as the dollar gained strength against foreign currencies and bullion lost some of its appeal as a safe-haven investment.

Gold for December delivery finished down 5.6% to $1,757.30 an ounce. In other metal futures, silver was down 6.66% to $39.51 a troy ounce while copper traded up 0.17% to $4.02.

The US Dollar Index was up 0.2% to $74.01.

In metal ETFs, SPDR Gold Trust ( GLD ) is down 3.53% to $171.39. Market Vectors Gold Miners ( GDX ) is down 3.4% to $59.40. iShares Silver Trust ( SLV ) is down 5.09% to $38.56.

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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