Gold falls most in a month; other metals follow
Updated: Thursday, December 27, 2012 2:51 PM
The Associated Press
Gold prices fell 1.5 percent Wednesday, the most in nearly a month. Other metals prices also ended lower.
Gold for December delivery fell $25.80 an ounce to settle at $1,716.50 an ounce. It was the biggest drop since Nov. 2.
Silver settled nearly 1 percent lower, giving up 29.7 cents to $33.684 an ounce. Copper and platinum also had modest losses.
High-grade copper for December delivery fell 1.2 cents to $3.5245 a pound. Platinum for January delivery fell $6.80 to $1,611.70 an ounce. Palladium for March delivery rose $5.15 to $675.20 an ounce.
Energy prices were mostly lower. Crude oil fell 69 cents to finish at $86.49 per barrel in New York.
Oil was off nearly 2 percent earlier in the day. Much of the loss was erased in afternoon trading after the Federal Reserve reported that economic growth improved in October and early November across much of the country.
In other energy trading, Heating oil fell 0.14 cent to $3.0080 per gallon. Wholesale gasoline rose 0.18 cent to end at $2.7339 per gallon and natural gas fell 7.3 cents to end at $3.6960 per 1,000 cubic feet.
Agricultural futures were mixed. Wheat for March delivery rose 2.75 cents to $8.9125 a bushel. March corn was flat at $7.64 a bushel. January soybeans fell 3 cents to $14.4625 a bushel.
Copyright 2012 The Associated Press.