Prices for Metals, Crops Push Up as Oil Slips

Prices for metals, both precious and industrial, pushed higher Monday.

Gold for August delivery was up $22.20, or nearly 2 percent, to $1,235.50 per ounce. September silver rose 30.2 cents, or 1.6 percent, to $19.038 per ounce. September copper rose 3.45 cents, or about 1 percent, to $3.0995 per pound.

Palladium and platinum, best known for their use in vehicles’ catalytic converters, were up by the largest proportion. Both rose more than 2 percent: September palladium climbed $17.85 to $695.40 per ounce, and October platinum rose $35.60, also more than 2 percent, to $1,362 per ounce.

Prices for key crops also gained, including jumps of about 2 percent in corn and soybeans. Corn rose 9.25 cents to $5.005 per bushel. Soybeans gained 24 cents to $12.5225 per bushel. Wheat was up slightly, rising 3 cents to $6.63 per bushel.

The price of oil dipped slightly, after rising last week due to political turmoil in Egypt. On Monday, crude oil futures fell 8 cents to $103.14 a barrel in New York. Brent crude dropped 29 cents to $107.43 in London.

In other energy futures trading, wholesale gasoline dropped 1 cent to $2.88 per gallon, and heating oil fell 1 cent to $2.98 per gallon. Natural gas was the outlier, rising 12 cents to $3.74 per 1,000 cubic feet.