invezz28d ago
Most non-agricultural commodities were in the red on Wednesday with gold dipping to a two-month low due to concerns about inflation. Meanwhile, among base metals, aluminium and copper contracts were also down on the London Metal Exchange. Oil prices extended their losses as both Brent and West Texas Intermediate crude benchmarks slipped over 3% on prospects of a deal between the US and Iran. Gold falls to a two-month low Gold slid close to 2% following renewed US military action in the Persian Gulf, while silver tracked the downturn in lockstep. “As has been the case in recent weeks, the inverse relationship between the price of gold (or silver) and the price of oil continues to hold,” Commerzbank AG analysts...