Markets
UNG

Global Economic Worries Sack Crude at Commodity Trade Close; Gold Ends at Record

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

UNG SLV USO GDX GLD

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More