Commodities Extend Weakness as USD's Rebound Continues

Rise in US dollar and Treasury yields continued, thus sending growth assets such as equities and commodities lower in European session. The front-month contract for WTI crude oil price tumbled to as low as 87.61 earlier in the day before recovering to above 88. Similarly, the benchmark Comex gold contract plunged to a 3-day low of 1386.9 and remain pressured below 1400.

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Commodities Extend Weakness as USD's Rebound Continues