Gold edges higher on "fiscal cliff" concerns

Published on NewsOK Modified: December 27, 2012 at 3:14 pm •  Published: December 27, 2012

Silver for March delivery rose 20.50 cents to $30.24 an ounce, a gain of 0.7 percent. March copper gained 0.35 cents, or 0.1 percent, to $3.6010 a pound.

Energy trading was mixed.

The price of crude fell Thursday following the drop in consumer confidence and growing pessimism that political leaders in Washington can reach a budget deal. U.S. benchmark crude fell 11 cents to $90.87 a barrel in New York.

Natural gas prices fell 3.8 cents, or 1.1 percent, to end at $3.3540 per 1,000 cubic feet. Heating oil rose 2.10 cents to finish at $3.0723 a gallon. Wholesale gasoline gained 0.55 cents to end at $2.8213 a gallon

Grains extended their recent declines.

Wheat for March delivery fell 2.25 cents, or 0.3 percent, to $7.7225. March corn fell 1.75 cents, or 0.3 percent, to $6.9150 a bushel and soybeans for deliver in the same month fell 4.5 cents to $14.14 a bushel, a decline of 0.3 percent.