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Commodities dropped to the lowest level in seven weeks as a stronger dollar and rising equity markets eroded the appeal of oil, gold and corn as alternative investments.
The UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials fell for a second day, touching 1,527.441, the lowest since June 5.
Gasoline was the biggest loser, dropping as much as 4 percent, and crude oil extended its slide from a record this month, while gold fell the most in six weeks.
The dollar strengthened against the yen and euro as investors increased bets that the Federal Reserve will raise interest rates in September. Some investors buy commodities as a hedge against inflation.
