Dhaka, Bangladesh (BBN)- The World Bank’s forecast for a deeper recession saw commodities decline across the board. NYMEX WTI lost 2.9 percent to USD 67.11 and Brent crude declined 3.3 percent to USD 66.54 a barrel.
Gold touched a five week low as deeper recession forecasts eroded its appeal as an inflation hedge. Gold for August delivery fell as low as USD 918.30 an ounce, according to reports.
BBN/SS/SSR/AD-11:55 am (BST)