This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Metals, Oil Follow Stocks Down As Cliff Approaches

By The Associated Press

Metals and oil prices turned lower on Friday, following stocks downward as investors waited to see if lawmakers will hammer out a resolution to the "fiscal cliff."

Silver, palladium and platinum fell the most, despite scattered hints that housing and manufacturing might be picking up. That's another sign that the "fiscal cliff" is yanking markets around more than anything else this week.

Gold for February delivery lost $7.80 to close at $1,655.90 per ounce. March silver lost 26.5 cents, almost 1 percent, to $29.975 per ounce.

March copper slipped 1.15 cents to $3.5895 per pound. March palladium fell $8.20, more than 1 percent, to $700.30 per ounce. April platinum fell $14.40, almost 1 percent, to $1,521.60 per ounce.

U.S. stocks closed lower for the fifth day in a row, and stocks across Europe also closed lower.

Investors are anxious to see if Republicans and Democrats can hammer out a budget agreement before Monday night. If not, the U.S. will go over the so-called fiscal cliff, meaning big tax increases and cuts to government spending will start to kick in on Tuesday.

Most energy commodities also fell. In New York, benchmark crude fell 7 cents to $90.80 per barrel. Brent crude fell 18 cents to $109.83 per barrel.

Gasoline fell 2.14 cents to $2.7999 a gallon. Heating oil fell 2.75 cents to $3.0448 a gallon. The exception was natural gas, which rose 5.7 cents to $3.4690 per 1,000 cubic feet.

Prices for key agricultural commodities ended higher for March contracts. Wheat rose 6.5 cents to $7.7875 per bushel. Corn rose 2.5 cents to $6.94 per bushel. Soybeans rose 4 cents to $14.18 per bushel.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs