23rd November 2015
Commodity prices sink as a stronger dollar and global growth fears weaken demand.
Commodity prices plunged further into the red on Monday as concerns about global growth and a stronger US dollar dented demand.
Copper sank to its lowest level since May 2009 as prices dipped below $4,500, while nickel was down five per cent to its weakest since 2003.
Zinc shed more than four per cent as industrial metals were hammered in Asia overnight.
Oil was another faller, with US light crude holding only slightly above the key handle of $40 a barrel.
Commodity prices were lower as the US dollar rose to its best level in seven months, jumping late last week as the Federal Reserve indicated it is almost ready to raise interest rates in December.
Expectations for higher interest rates in the US continue to dampen demand for gold, which is trading near to its lowest in almost six years.
And finally silver shed 1.4 per cent to trade at $13.87, the weakest since August 2009.
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