MW: Oil turns lower, gold extends decline on Bernanke
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned lower, while gold futures added to losses, as U.S. Federal Reserve Chairman Ben Bernanke's Tuesday testimony to Congress has offered little to boost any hopes of further economic stimulus soon. The dollar rallied against the euro, and investors fled assets considered riskier. Crude for August delivery CLQ2 -0.94% recently declined 58 cents, or 0.7%, to $87.83 a barrel on the New York Mercantile Exchange. Gold for the same month's delivery GCQ2 -1.26% was off $18.20, or 1.1%, to $1,573.80 an ounce on the Comex division of the Nymex.
