MW: Gold falls below $1,550 as oil sinks under $89
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Gold and oil futures fell Wednesday, with the dollar-denominated commodities pressured as the greenback climbed to its highest level in nearly two years. Gold for August delivery GCQ2 -0.48% fell $12, or 0.8%, to $1,539 an ounce on the Comex division of the New York Mercantile Exchange after trading as low as $1,538.30. July crude oil CLN2 -2.18% traded at $88.64 a barrel on Nymex, down $2.12, or 2.3%. A close below $89 would be the lowest since October.
