Dhaka, Bangladesh (BBN) – Crude oil continued to decline as recovery optimism was replaced by sentiments of prices outpacing demand. Crude for July delivery fell 0.7 percent to USD 71.56.
Gains in USD have cut the appeal of gold and copper as alternative stores of value.
Gold for immediate delivery fell to a three week low of USD 935.20 an ounce, while copper for three month delivery fell 2.6 percent to USD 5,235 a ton, according to reports.
BBN/SS/SI/AD-15June09-1:14 pm (BST)