Commodities Remain Pressured as GOP Set to Vote on Plan B Despite Obama's Veto

Commodity prices remained under pressure in US morning amid concerns over the stalemated fiscal cliff negotiation. While President Obama threatened to veto the so-called “Plan B” proposed by the GOP, the Republican-controlled House is set to vote for it. Crude oil prices slipped while gold price extended recent weakness with the benchmark Comex contract falling to as low as 1653.1, a level not seen since August.

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Commodities Remain Pressured as GOP Set to Vote on Plan B Despite Obama's Veto