Commodities slumped after the FOMC minutes signaled the possibility of ending QE by the end of this year. Gold price got hammered with the benchmark Comex contract sinking to as low as 1661.2 before recovering to 1674.6, down -0.84% at close. The contract weakened further in Asian session on Friday. Gold gained +7% in 2012 but there are concerns that the precious metal might end its 12 year rise if the Fed finishes its asset purchase program this year. Crude oil prices were also pressured but the losses were milder than precious metals. The front-month contract for WTI crude oil slipped -0.21% while the equivalent Brent crude contract dropped -0.29%.
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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.
