As eurozone anxiety persists, investors are selling their hedges and opting for liquidity. Which means it’s an absolute bloodbath in commodities like gold.
Gold for December delivery is off nearly $55 an ounce or 3.1%. Silver is off 6.55% and is down to $31.61 per ounce. Meanwhile, crude oil fell 3.33% to $99.23 per barrel, as investors are in risk-off mode.
Here’s a look at some other numbers:
- Platinum: -2.71%
- Copper: -3.2%
- Palladium: -6.59%
- Corn: -4.3%
- Wheat: -3.89%
- Natural gas: +2.18%
- Cocoa: +3.62%
Now here’s a chart of the stunning decline in crude oil futures: