Scrapped for Cash

By Jon Nadler
10 August 2009 @ 04:34 pm EDT

The US dollar rose today, as stock market declines in European as well as US equities reignited refuge-oriented demand from investors. The yen benefited from the flight to safety syndrome as well, rising for the first time in three days. The greenback climbed to 79.25 on the trade-weighted index, while black gold lost a bit of ground, declining to $70.79 per barrel. This background picture then set the stage for further losses in precious metals on this second Monday of August.

IBTimes Commodity Commentaries

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