Economic gloom sees commodities fall
Commodities fell to their lowest in almost 10 months on speculation Europe’s debt crisis will worsen
Commodities fell to their lowest in almost 10 months and silver tumbled below $28 for the first time since February on speculation Europe’s debt crisis will worsen, curbing raw-material demand, according to Bloomberg.
Copper, often seen as a bellwether for economic activity, had its worst run since 2008. Crude oil for November slid 2 percent at $78.23 a barrel on the New York Mercantile Exchange. It lost 9.5 per cent last week, the worst since May.
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