Copper prices tumble as investors remain worried about pace of economic growth
By APMonday, June 7, 2010
Copper falls to lowest level in 8 months
NEW YORK — Copper prices have plummeted to their lowest level in eight months as investors predict demand for the metal will drop as Europe’s economic recovery slows and China cuts back on imports.
July copper contracts are down 5.35 cents at $2.766 a pound. Early in the day copper fell as low as $2.72 a pound, its lowest price since October.
Gold continues to be a refuge for investors seeking to sell euros. Gold is up $23.10 at $1,240.80 an ounce.
YOUR VIEW POINT
