Commodities finished trading mixed as crude oil futures plunged amid a surge of worry over Europe's debt situation and the broader global economy. Those worries drove gold to close at a new record.
Light, sweet crude for September delivery finished down 5.9% to $82.38 a barrel. In other energy futures, heating oil was down 2.61% to $2.88 a gallon while natural gas was down 1.22% to $3.88 per million British thermal units.
In energy ETFs, the United States Oil Fund ( USO ) is down 5.94% to $34.06. The United States Natural Gas ETF ( UNG ) is down 0.7% at $9.87.
Meanwhile, gold futures finished at a new record amid a surge of safe-haven buying.
Gold for August delivery finished up 1.7% to $1,8.22 an ounce. In other metal futures, silver was up 1.16% to $40.31 a troy ounce while copper traded up 1.06% to $4.05.
The US Dollar Index was down 0.4% to $73.72.
In metal ETFs, SPDR Gold Trust ( GLD ) is up 1.94% to $177.80. Market Vectors Gold Miners ( GDX ) is down 1.1% to $60.07. iShares Silver Trust ( SLV ) is up 0.92% to $39.70.
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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.
