NEW YORK (Yosefardi) – Gold plummeted 5.8% to US$1294 per ounce Thursday (June 20), while Nymex crude oil lost almost three percent to US$94.4 per barrel.
These commodities followed further downfall of stocks as Dow Jones Industrial Average (DJIA) lost 1.5% to below 15,000, while Nasdaq composite and S&P 500 dropped 1.6% and 1.67% respectively Thursday morning.
Earlier in Europe, FTSE 100 ended substantially lower by 2.86%. In Asia, Indonesia Stock Exchange (IDX) plummeted 3.68%, while Shanghai and Hang Seng down 2.77% and 2.88% respectively.
Gold producer Freeport McMoRan, parent of PT Freeport Indonesia, opened lower by 4.16%, while Newmont Mining lost 4.39% in the opening hour. Earlier in Asia, Newcrest Mining lost 3.6% in Sydney. Freeport, Newmont, and Newcrest are three of the largest gold producers in Indonesia.
In the oil and gas sector, Chevron and ExxonMobil down 1.11% and 0.92% respectively, while Shell and Total lost 1.63% and 3.11% respectively.