It's A Commodities Market Bloodbath

the 300 spartans

Not a fun day for commodity investors.

A big part of the commodity complex is coming under heavy selling this morning, especially in energy and metals.

(Gold just sank below $1500 an ounce for the first time since July 2011.)

Clearly, the economic data have not been encouraging today, and the tone in the market is decidedly “risk-off” (i.e., time to sell).

Here’s a quick run-through of the latest damage:

  • WTI crude oil -3.3%
  • Brent crude -2.9%
  • Gasoline futures -2.3%
  • Heating oil -2.1%
  • Gold -3.7%
  • Silver -5.1%
  • Platinum -2.4%
  • Palladium -2.2%

Soft commodities are holding up in spite of the sell-off in metals and energy. Corn is up 0.8%, wheat is 1.6% higher, and soybeans are up 0.4%.

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