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Stronger Dollar Weakens Oil, Rubber & Gold

January 5, 2011 at 5:49 by Vladimir Vyun

Crude oil slipped today as US gasoline inventories surged and the dollar strengthened. Gasoline stockpiles in the US, the biggest consumer of oil, advanced 5.6 million barrels last week. February delivery for crude oil dropped $0.48 cents (0.5 percent) to $88.90 per barrel on NYMEX.

Rubber also declined on a stronger dollar. Another reason for the decline was the profit-taking after prices surged to the record. June delivery for rubber slid 1.7 percent to 419.1 yen per kilogram ($5,102 per metric ton) on the Tokyo Commodity Exchange.

The commodity sell-off affected gold too, causing the spot price to decline 0.2 percent to $1,378.18 an ounce.

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

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