Commodities Slump Despite Upgrades in Growth Outlook

The selloff in commodities accelerated in European session. While IMF's and BOJ's upgrade of growth forecasts signaled better economic outlook, Russia's bomb blast raised risk aversion. The front-month contract for WTI crude oil weakened below 87 while the benchmark contract for gold extended weakness towards 1320.

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Commodities Slump Despite Upgrades in Growth Outlook