- Copper prices dropped to two-week lows on Thursday, after the Federal Reserve’s first rate hike in almost a decade pushed up the dollar, dampening demand for raw materials.Copper for March delivery on the Comex division of the New York Mercantile Exchange slumped 2.5 cents, or 1.22%, to trade at $2.046 a pound during morning hours in London.
- Oil prices fell back towards seven-year lows on Thursday, as ongoing jitters over a global supply glut coupled with a broadly stronger U.S. dollar weighed.On the ICE Futures Exchange in London, Brent oil for February delivery dropped 24 cents, or 0.64%, to trade at $37.15 a barrel during European morning hours.A day earlier, London-traded Brent plunged $1.34, or 3.41%, as worries that a global supply glut may stick around for longer than anticipated continued to weigh.
- Gold fell sharply in Europe on Thursday, as the U.S. dollar surged after the Federal Reserve raised interest rates for the first time in nearly a decade.Gold for February delivery on the Comex division of the New York Mercantile Exchange slumped $11.00, or 1.02%, to trade at $1,065.80 a troy ounce during European morning hours.
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