Dismal home sales report sends copper, energy prices lower; gold, silver gain

Copper prices lose ground on dismal home sales

Copper prices are losing ground after a dismal report on home sales added to concerns about the slowing U.S. economy.

Copper for December delivery fell 5.05 cents to settle at $3.2620 a pound Tuesday.

The National Association of Realtors says July sales of previously occupied homes plummeted to the lowest level in 15 years, which is fueling more uncertainty about the economic recovery.

Copper is used in manufacturing and construction products such as wiring and pipes so its price can be affected by weak home sales.

Other metals are mixed, while energy and grains prices are lower.