Commodities prices fall broadly, except crude oil
NEW YORK (AP) — Metals and crop prices closed broadly lower Wednesday, while energy prices were mixed.
Gold and silver led a decline in metals futures. Gold for August delivery fell $12.90 to $1,277.50 an ounce. September silver fell 51.50 cents to $19.42 an ounce.
Other metals were lower as well. Copper for September fell 5.8 cents to $3.1285 a pound. October platinum fell $14.10 to $1,411 an ounce. September palladium edged down 15 cents to $735.45 an ounce.
Crude oil rose as U.S. oil supplies fell for a third week. Benchmark crude for August delivery gained 48 cents to close at $106.48 per barrel on the New York Mercantile Exchange. Oil is up nearly $10 a barrel in July.
Other energy prices were mixed. Wholesale gasoline fell 2 cents to end at $3.11 per gallon, heating oil rose 2 cents to finish at $3.07 a gallon and natural gas dropped 5 cents to end at $3.63 per 1,000 cubic feet.
Agricultural futures fell. December corn slumped 8.75 cents to $5.02 a bushel, September wheat fell 4.5 cents to $6.65 a bushel and November soybeans fell 2.75 cents to $12.835 a bushel.