Commodity Market Outlook 08-11-2012
Gold flat as U.S. fiscal worries boost dollar
Dollar rose to a two-month high against a basket of currencies
Copper dropped to a two-month low on Wednesday
Gold traded little changed on Thursday, with initial momentum after U.S. President Barack Obama’s re-election giving way to concerns about the country’s fiscal problems, boosting the greenback and weighing on bullion.
Spot gold was flat at $1,716.49.
Oil fell nearly 4 percent on Wednesday as problems facing the economies of the United States and Europe darkened investor sentiment a day after the re-election of President Barack Obama.