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Commodities falter on dollar rally, economic woes; Gold, Silver, copper, wheat futures fall

Business Materials 7 November 2008 03:43 (UTC +04:00)

Gold prices and most other commodities have tumbled, reflecting steep losses on Wall Street and a

strengthening dollar, the Associated Press reported.

Gold for December delivery dropped US$10.20 to US$732.20 an ounce on the New York Mercantile Exchange.

Other precious metals prices also fell. December silver tumbled 40 cents to US$10.055 an ounce, while December copper futures shed 9.35 cents to US$1.7255 a pound.

Grain prices mostly fell on the Chicago Board of Trade.

December wheat futures fell 14.75 cents to US$5.225 a bushel, while corn for December delivery fell 12.25 cents to US$3.78 a bushel.

January soybeans rose 2 cents to settle at US$9.06 a bushel, after falling as low as US$8.83 earlier in

Thursday's session.

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