S&P GSCI Spot Index of Commodities Erases Advance for the Year

The Standard & Poor’s GSCI Spot Index, which tracks raw materials, dropped for an eighth day, losing 0.7 percent to 642.93 at 10:02 a.m. in Singapore. That puts the gauge on course for erasing this year’s gains after it ended 2011 at 644.91. The index droppd today as crude oil and base metals declined.

To contact the reporter on this story: Chanyaporn Chanjaroen in Singapore at cchanjaroen@bloomberg.net

To contact the editor responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.net