Wednesday, March 3, 2010

Commodities Rise on Weaker Dollar

Commodity Prices Rise as Dollar Drops

A number of commodity sector rose as the U.S. dollar weakened against major currencies.

Enjoying the increase were energy, metals and grains, with major crops like corn, soybeans and wheat increasing; something the grain market has been looking and hoping for for awhile.

Also rising in response to the collapsing dollar were gold, silver and copper, while on the energy side price also rose, even though they would normally have fallen on the news oil and gasoline pireced remained higher than expected for the previous week.

Oil gained $1.19 to finish the session at $80.87 on the New York Mercantile Exchange.

Commodity Prices Rise as Dollar Drops

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