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Gold Down Nearly 3 Percent, Oil Drops Over 4 Percent
Dec. 14, 2011 10:42AM PST
Eurozone debt concerns along with a declining euro have pushed commodities down with gold and oil posting significant declines.
Commodities slumped on Wednesday with gold and oil leading the pack as Eurozone worries continue, amplified by a declining euro.
Gold dropped below a 200-day moving average with spot prices posting a near 3 percent decline to $1,585.49 by 16:00 GMT. January crude oil fell in its biggest single-day drop since September 22 to $95.76 on the NYMEX.
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