Commodities mostly slump as dollar gains; Energy and copper fall on demand concerns
By Stephen Bernard, APFriday, January 29, 2010
Commodities mostly fall on strengthening dollar
NEW YORK — A stronger dollar and weakening demand are sending prices for commodities lower again.
The ICE Futures US dollar index, which measures the dollar against a basket of other currencies, rose 0.5 percent Friday as investors seeking to reduce their exposure to risk parked more funds in dollars.
Copper prices tumbled as traders feared demand from China could wane as that country taps the brakes on its economy. Energy prices also fell on signs that consumption of gasoline and other petroleum products remains weak.
Copper for March delivery fell 4.55 cents to $3.0525 a pound.
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