Summary Box: Dismal home sales report sends copper, energy prices lower; gold, silver gain
By APTuesday, August 24, 2010
Summary Box: Copper falls on dismal home sales
TARNISHED PRICE: Copper prices fell Tuesday after a report showed sales of previously occupied homes plummeted to the lowest level in 15 years last month. Copper is used in manufacturing and construction, including wiring and pipes for homes.
ENERGY GLUT: Oil prices retreated on growing concerns about the pace of the economic recovery. Crude and gasoline supplies are plentiful yet demand remains weak.
SAFE HAVEN: Investors sought out gold and silver for their reputation as safer places to park money in uncertain times.
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