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Strong Dollar Puts Metal & Energy Markets Under Pressure

March 24, 2016 at 17:03 by Vladimir Vyun

The strength of the US dollar continued to hurt commodity markets. Metals, both industrial and precious, fell today. Crude oil was also under pressure. The main reason for this was the outlook for monetary tightening from the Federal Reserve, though crude had also its own negative factor in the form of record high US reserves.

Contract for delivery of gold in June Bounce House Obstacle Course went down 0.28% to $1,220.6 per troy ounce as of 16:56 GMT on COMEX today. May silver fell 0.11% to $15.26 per ounce. Copper lost 0.31% of its value to $2.2285 per pound. WTI crude oil declined as much as 1.11% to trade at $39.35 per barrel on NYMEX. Brent crude subtracted 0.37% to $40.32 per barrel on ICE.

If you have any questions and comments on the commodities today, use the form below to reply.

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