- Gold prices inched lower on Tuesday, as steep declines in other metal commodities, like copper, platinum and palladium, weighed. Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $1.30, or 0.12%, to trade at $1,094.90 a troy ounce as of 09:45 GMT, or 4:45AM ET. A day earlier, prices dipped $1.70, or 0.15%.
- Crude oil fell 3 percent on Tuesday, heading toward $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines.Prices are down around 20 percent since the start of the year, dragged lower by soaring oversupply, China’s weakening economy and stock market turmoil, as well as the strong dollar, which makes it more expensive for countries using other currencies to buy oil.
- Copper prices fell to a new six-year low on Tuesday, as investors continued to cut holdings of the red metal amid persistent worries about future demand from top consumer China.Copper for March delivery on the Comex division of the New York Mercantile Exchange shed 1.7 cents, or 0.86%, to trade at $1.957 a pound by 08:00 GMT, or 3:00AM ET.
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