Metals close broadly lower; energy futures mixed

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Associated Press

Posted on June 24, 2013 at 2:00 PM

Updated Monday, Jun 24 at 3:01 PM

Metals prices are closing broadly lower, while energy prices are ending mixed. Wheat is closing down almost 3 percent.

Gold for August delivery fell $14.90, or 1.2 percent, to $1,277.10 an ounce.

Other metals fell even more. Silver for July delivery slumped 46.6 cents, or 2.3 percent, to $19.493 an ounce. Platinum fell 2.9 percent and palladium fell 2.5 percent.

The price of oil ended higher after the stock market reversed most of an early sell-off in afternoon trading.

Benchmark oil for August delivery rose $1.49 to close at $95.18 a barrel on the New York Mercantile Exchange.

Oil sank $4.55 a barrel, or 4.7 percent, Thursday through Friday after the Federal Reserve spooked investors by signaling the end of its bond-buying program.

Wheat fell 2.7 percent, corn 1.8 percent.

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