Stronger Dollar Weighs on Commodities
Following a very prosperous period for the commodities markets, the portfolios of oil and gold investors are now beginning to lose value. Gold bullion has sunk to $745 an ounce, its lowest price in almost a year. Crude oil has also taken a dive, rapidly closing on the $100 per barrel mark. The question looming in the background seems to be: What is causing the sluggishness in these previously high-flying markets? The answer provided by popular opinion points to the strengthening of the U.S. dollar versus other major currencies, as it rose on Wednesday to an annual high against the…