Summary Box: Commodities narrowly mixed as higher dollar offsets upbeat economic reports
By APWednesday, February 17, 2010
Summary Box: Commodities mixed as dollar rises
HOW DID COMMODITIES PERFORM: Commodities were narrowly mixed Wednesday with gold prices ending the day nearly flat. Oil prices also showed very little change.
WHY DIDN’T GOOD ECONOMIC NEWS LIFT COMMODITIES: Investors were more concerned with the rising dollar and the possibility of higher interest rates than news of improvements in housing and manufacturing.
WHAT DO RATES HAVE TO DO WITH IT: Higher rates help lift the dollar. That in turn makes it more expensive for overseas investors to buy commodities.
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