Copper ends week lower on mixed economic news

Associated Press Modified: April 13, 2012 at 3:30 pm •  Published: April 13, 2012

In addition to China, worries lingered about Europe's financial crisis after yields on Spanish bonds inched higher. The combination of news caused a broad decline in commodity prices as investors wondered about the pace of global economic growth.

Copper for May delivery fell 9.35 cents to end at $3.627 per pound. The price has dropped 4.7 percent this week. It reached a high for the year of $3.98 a pound on Feb. 9.

Gold for June delivery fell $20.40 to finish at $1,660.20 an ounce, May silver dropped $1.135 to $31.39 an ounce, July platinum decreased $18.10 to $1,587.90 per ounce and June palladium ended down $5.90 to $647.20 an ounce.

Benchmark oil prices fell 81 cents to finish at $102.83 per barrel on the New York Mercantile Exchange. Heating oil rose 0.83 cent to $3.1746 per gallon, gasoline futures decreased 1.06 cents to $3.3461 per gallon and natural gas dropped 0.2 cent to $1.981 per 1,000 cubic feet.

In May agricultural contracts, wheat dropped 15.75 cents to end at $6.235 per bushel, corn fell 8.25 cents to $6.2925 per bushel and soybeans decreased 4.25 cents at $14.3675 per bushel.