KAKE - Money - Headlines

Reporter: Associated Press Email

Gold Prices Fall, Close Below $900 An Ounce

Tuesday, April 28, 2009

Gold prices are lower as fears of a global swine flu pandemic rattle commodities markets.

Oil and other metals have also fallen, while agriculture futures are up slightly.

Investors are trading commodities cautiously this week as the swine flu spreads. The fear is that a major outbreak could prolong the global recession and depress demand for basic materials.

Evidence of soft demand in India during the country's festival season, a traditional time of gold-buying for gifts and investment, is also hurting gold prices, analysts say. India is one of the world's biggest gold consumers.

Gold for June delivery lost $14.60 to settle at $893.60 an ounce on the New York Mercantile Exchange.

Next Story >
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

View All Sections

Gray Television, Inc. - Copyright © 2002-2013

Designed by Gray Digital Media