Oil, gold fall as US dollar strengthens, Middle East calms
Business
Commodity prices took a hit on Tuesday, with both oil and gold falling as the US dollar got stronger.
A stronger dollar makes things like gold and oil pricier for people using other currencies, so demand dropped.
Calmer conditions in the Middle East also helped cool prices.
Brent crude $72.40, WTI $70.32
Oil slid as traders watched U.S.-Iran talks that could ease tensions: Brent crude fell to $72.40 a barrel, while WTI dropped to $70.32.
Gold kept up its losing streak, down 1.5% to $3,957.74 per ounce, mostly because investors expect higher US interest rates soon.
Silver was the outlier here; it actually edged up a bit to $58.51 per ounce, while platinum and palladium also saw small gains.