Gold futures closed lower Wednesday, extending their losing streak to a fifth session as the metal failed to garner much buying interest on the heels of a stronger U.S. dollar
Some additional casualties of the selloff in precious metals today:
Newmont Mining (NEM -1.7%),
Royal Gold (RGLD -3.8%),
Kinross (KGC -3.4%),
Yamana Gold (AUY -3.5%),
IAMGold (IAG -4%),
Golden Star Resources (GSS -3.9%),
Gold Fields (GFI -2.7%)
Allied Nevada Gold (ANV -5.3%).
Commodities post sharp drops as a rising dollar vs. the euro pressures commodity assets. Metals sell off, with Comex Feb. gold tumbling $31.40, or 2.2%, to settle at $1564.10, March silver fell $1.51, or 5.7%, to end at $27.23, and March copper lost $0.05 to $3.36. ABX -3%, IAG -4%, SLW -4.5%, FCX -3.5%. WTI crude futures move below $100/bbl. in volatile trading.
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