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Commodities Plunge; Silver Craters 10% While Gold, Crude Oil Tumble Into Red

Commodities finished broadly lower with silver futures plunging nearly 10% while the dollar gained strength against foreign currencies. Crude oil and gold futures both tumbled into the red.

Light, sweet crude for November delivery finished down 6.3% to $80.51 a barrel. In other energy futures, heating oil was down 2.93% to $2.84 a gallon while natural gas was down 0.56% to $3.70 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 5.44% to $31.12. The United States Natural Gas ETF ( UNG ) is down 0.48% to $9.31.

Meanwhile gold futures, which often move higher amid economic uncertainty, also fell to finish down more than 3%.

Gold for December delivery closed down 3.7% to $1,741.70 an ounce. In other metal futures, silver was down 9.62% to $36.57 a troy ounce while copper traded down 7.96% to $3.46.

The US Dollar Index is up 0.9% to $78.36.

In metal ETFs, SPDR Gold Trust ( GLD ) is down 2.28% to $169.63. Market Vectors Gold Miners ( GDX ) is down 7.58% to $59.41. iShares Silver Trust ( SLV ) is down 8.35% to $35.34.

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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