Gold Down Nearly 3 Percent, Oil Drops Over 4 Percent

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.

Read the full report on Bloomberg.