Metal, energy prices drop as dollar gains

Last Updated: Wed, Oct 09, 2013 23:00 hrs


December gold fell $17.40 to $1,307.20 an ounce. The U.S. dollar index rose to its highest level in two weeks, diminishing the appeal of gold as an alternative to holding dollars.

Other metals also fell. December silver fell 55.2 cents to $21.891 an ounce and copper fell 6.15 cents to $3.231 a pound. January platinum fell $20.70 to $1,383 an ounce and December palladium fell $10.80 to $704.10 an ounce.

Energy prices fell. November crude oil dropped $1.88 to $101.61 a barrel after the U.S. Energy Information Administration reported that crude supplies rose sharply last week.

In other energy trading, wholesale gasoline fell 1 cent to $2.62 per gallon, natural gas lost 4 cents to $3.68 per 1,000 cubic feet and heating oil fell 2 cents to $3.02 per gallon.

Agricultural futures were mixed.

Corn for December delivery edged up 1.75 cents to $4.435 a bushel. December wheat slipped 3 cents to $6.905 a bushel, and November soybeans fell 1 cent to $12.8775 a bushel.

More from Sify: