Market Updates
Gold Inches Down, Oil Surges
Ivaylo
17 Jul, 2007
New York City
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Gold declined slightly on Monday below a five-week high on technical sales, as the market was closely watching the descent of the dollar against the euro. Investors were wary ahead of Ben Bernanke
[R]5:30AM Gold dips slightly, oil futures climb sharply, agricultural prices tumble.[/R]
August gold dipped $1 to end at $666.30 an ounce on the Nymex.
September silver tracked gold lower, edging down 4.5 cents to $13.065 an ounce.
Nymex copper declined 3.1 cents to end at $3.562 a pound.
Crude oil for August delivery advanced 22 cents to close at $74.15, which is the highest settlement since Aug. 11 last year.
Gasoline futures shed 9.86 cents to $2.1262 a gallon.
Wheat for September delivery lost 19 cents to settle at $6.0175 a bushel.
December corn declined 20 cents to end at $3.485 a bushel;
December oats closed down 18.5 cents at $2.5525 a bushel while November soybeans slipped 50 cents to settle at $8.9875 a bushel.
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