Summary Box: Commodities climb as dollar weakens; earnings, economic reports show growth
By APTuesday, February 16, 2010
Summary Box: Commodities rise as dollar falls
HOW DID COMMODITIES FARE TUESDAY: Commodities mostly rose, led by rising gold and oil prices. Grains also rallied throughout the day.
WHAT DROVE PRICES HIGHER: A sharp drop in the dollar made commodities more attractive. That helped push gold prices above $1,100 an ounce for the first time in about two weeks.
WHAT ELSE BESIDES THE DOLLAR: Grains got an additional boost as selling pressure from hedge funds eased. A report late Friday showed hedge funds had sold most of their positions in wheat, soybeans and corn over the past six weeks.
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