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Oil & gold slump sparks commodity crash fear

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Ed Monk & PA
This is Money
May 6, 2011

Gold, silver and oil prices have tumbled on fears of a global economic slowdown, leading to speculation that the recent commodities bubble may have peaked.

Brent crude oil fell by almost 9% yesterday, down $9.99 to $111.24 a barrel, while gold, 2% lower at $1,511, and silver, 6% lower at $37.84 also suffered.

Prices generally have steadied today although oil continues to fall and is currently a further 5% lower at $106, marking a week-long losing streak.

Thursday was the fourth day of widespread commodity falls with prices tumbling in response to a slew of negative economic data.

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This article was posted: Friday, May 6, 2011 at 2:59 am





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