Commodities Prices Fall Broadly; Gold, Oil Lower


Commodities prices closed broadly lower Wednesday.

Gold and silver fell, as did grains and beans futures. Crude oil slumped nearly 2 percent after China reported weak manufacturing data.

Gold for August delivery fell $15 to $1,319.70 an ounce. September silver fell 23.4 cents to $20.02 an ounce. Copper for September delivery fell 1.9 cents to $3.179 a pound. October platinum rose $12.10 to $1,455.20 an ounce, and September palladium rose $5.85 to $745.30 an ounce.

Corn for December delivery fell 5.25 cents to $4.8025 a bushel. September wheat fell half a cent to $6.5325 a bushel. Soybeans for delivery in August fell 3.5 cents to $12.5675 a bushel.

Crude oil had its biggest drop since June 21, following sluggish manufacturing data from China and a down day on the stock market.

Oil for September delivery dropped $1.84, or 1.7 percent, to close at $105.39 a barrel in New York.

In other energy futures trading on the New York Mercantile Exchange, wholesale gasoline lost 0.4 cents to end at $3.05 a gallon, heating oil lost 2 cents to finish at $3.05 a gallon and natural gas fell 4.5 cents to end at $3.70 per 1,000 cubic feet.