Key Commodities Get Clipped
01-Jul-11 15:30 ET Dow +153.90 at 12568.24, Nasdaq +39.02 at 2812.54, S&P +17.44 at 1338.08
Weakness in the commodity complex led to a 0.3% decline by the CRB Commodity Complex. For the week, the CRB fell 1.8%.
Oil prices pared losses seen in early pit trade to log a 0.7% loss at $94.79 per barrel, but the energy component finished the week 4% higher than where it began.
Natural gas prices fell 1.4% to $4.34 per MMBtu. The commodity was under pressure all session, but it was able to advance almost 3% for the week.
Precious metals also performed poorly today. Specifically, gold prices dropped 1.3% to $1483.80 per ounce while silver sank 3.2% to $33.72 per ounce. For the week, though, gold prices fell 1.1% while silver prices shed 2.8%.
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