Copper Fall on Economic Uncertainty

The AFP reported that Copper prices declined after the government reported that claims for unemployment benefits remained high last week.

As quoted in the market news:

Prices of industrial metals are closely tied to economic growth. Signs of weakness in the economy, such as high levels of unemployment claims, tend to push their prices lower. Copper in particular is used a raw material in many kinds of manufactured goods.

Copper for December delivery fell 8.65 cents, or 2.5 percent, to end at $3.307 a pound. January platinum fell $22, or 1.4 percent, to finish at $1,532.40 an ounce. December palladium dropped $17, or nearly 3 percent, to $594.10 an ounce.

Click here to read the full AFP report