Commodities tumble on US retail sales news

Commodities , Metals , Precious metals Apr 12, 2013 No Comments

Precious metalCommodities tumbled to the lowest since July, led by a plunge in precious metals, as U.S. retail sales fell the most in nine months and consumer sentiment unexpectedly declined.

Gold fell into a bear market, and silver plummeted to the lowest since 2010. Crude oil slumped to a one-month low.

On the London Metal Exchange, a gauge of copper, aluminum, zinc, lead, nickel and tin fell 2.6 percent, the most in a year.

Zinc dropped for the ninth straight week, the longest slump in at least two decades.

via Commodities Fall to Lowest Since July on ‘Soft’ U.S. Data – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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