Key Topics: Gold, Oil, Silver and Commodities ETFs, NYSEARCA:GLD, NYSEARCA:IAU, NYSEARCA:USO, NYSEARCA:UNG, NYSEARCA:SLV
Commodities skidded on Greece today as the bailout hit yet more difficulties and the outcome remained in doubt heading into the weekend.
Major commodity ETFs slump:
SPDR Gold Trust (NYSEARCA:GLD) the largest gold ETF and second largest ETF declined 0.5%.
iShares Gold Trust (NYSEARCA:IAU) shed 0.47%
United States Oil Company (NYSEARCA:USO) dropped 0.8% as the major oil ETF responded negatively to news from Greece.
United States Natural Gas ETF (NYSEARCA:UNG) bucked the trend in the energy sector to gain 0.6%
iShares Silver Trust (NYSEARCA:SLV) dropped 1.2% for the day
Oil had been flirting with three week highs as it dropped today on worries that the Greek crisis will spread, cause recession or contagion in Europe and dampen energy demand around the world.
Gold declined for the day and week as the dollar strengthened on Greek fears and a search for safe haven.
Silver fell, as well, trimming its year to date gains.
Copper dropped, along with other commodities like cocoa and coffee.
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