Commodities End Anemic Week Mostly Lower

MADLEN READ

NEW YORK (AP) — Commodity prices ended an anemic week mostly lower on Friday, with investors growing less impressed by global economic data.

For months, commodities were rallying on signs that the economy's slide was slowing. Now, because new readings have yet to show actual strength, investors are cashing in some of their gains.

Investors "sense that prices have already done enough, so we're kind of stalling a bit right now," said Edward Meir, senior commodities analyst at MF Global in New York.

Crude oil dropped 3.5 percent this week, while gasoline tumbled 5.8 percent. Gold is down 0.5 percent for the week, while silver is down 4.5 percent and copper is down 5.2 percent.

This week, U.S. data showed better-than-expected reports on home construction and manufacturing in the mid-Atlantic region, but also a surplus in gasoline supplies and a seventh straight monthly drop in industrial production.

Investors are waiting for economic data to shift from "less bad to good," Meir said. "We're not there yet."