Gold, silver fall on strong economic signals

NEW YORK (AP) Surging auto sales and the diminishing likelihood of an immediate U.S. strike on Syria are sending precious metals prices lower.

Energy prices also fell as traders anticipated no short-term disruptions to oil from the Middle East.

Gold for August December delivery fell $22, or 2 percent, to $1,390 an ounce Wednesday.

Silver dropped $1.013, or 4 percent, to $23.369 an ounce. Other metals also fell.

Crude for October delivery fell $1.31, or 1 percent, to $107.23 a barrel in New York.

Russian President Vladimir Putin warned the West Wednesday against taking one-sided action in Syria.

November soybeans fell 34.25 cents, or 3 percent, to $13.525 a bushel. December corn fell 5.75 cent, or 1.2 percent, to $4.695 a bushel and December wheat fell a penny to $6.4625 a bushel.

This story has been automatically published from the Associated Press wire which uses US spellings

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production bpcf02 at 29 Jun 2016 13:46:52 Processing Time: 442ms