With signs that economy could stumble, gold rises

Published on NewsOK Modified: February 25, 2013 at 4:10 pm •  Published: February 25, 2013
Advertisement
;

Industrial metals, however, are tied more directly to how traders feel about the economy — they tend to rise when hopes about the economy do too. And George Gero, at RBC Wealth Management, said he wasn't sure how long their climb would last.

"We still understand that European trade consumers are living hand to mouth," Gero wrote in a note to clients, "and uncertainty still remains as to the growth prospects in China."

A survey released in China showed that manufacturing fell to a four-month low in February.

Oil was little changed. Benchmark crude fell 2 cents to $93.11 a barrel on the New York Mercantile Exchange. In London, Brent crude was up 34 cents to $114.44. Traders will be watching talks that begin this week over Iran's nuclear program, which can affect the country's oil output.

In other energy futures trading, wholesale gasoline was unchanged at $3.26 a gallon. Heating oil fell less than 1 cent to $3.10 a gallon. Natural gas rose 12 cents to $3.41 per 1,000 cubic feet.

Agricultural commodities were mixed. Wheat fell nearly 2 percent, down 13.5 cents to $7.0525 per bushel. Corn was up 3.25 cents to $6.935 per bushel. Soybeans fell 8.5 cents to $14.3525.

| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Hotel leaves Oklahoma City Thunder opponents telling ghost stories
  2. 2
    Check out the Thunder postseason playlist
  3. 3
    VIDEO: Blake Griffin dumps water on a fan
  4. 4
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  5. 5
    Dave Chappelle Reveals Shockingly Buff New Look
+ show more