Gold down and copper at low

Commodities prices trended downward on Wednesday, as gold, copper, aluminium, and crude oil prices all fell.

Gold prices fell to $437.00/$437.70 per troy ounce late in the day in Europe, losing around $4 off of Monday’s 3-month high.

Copper prices also fell, losing $30 to $3,358 per tonne on the London Metals Exchange. Copper inventories have fallen to a 31-year low of 33,050 tonnes.

Aluminium prices were also down even though there is the possibility of plant closures in Europe because of high energy prices.