News Summary: Precious Metals Jump On Dollar Slump

Steve Rothwell

MY PRECIOUS: Metals including gold, silver and palladium led gains for commodities as the dollar declined. Gold and silver both advanced to their highest in more than a month as the dollar fell 0.9 percent against a basket of currencies.

PALLADIUM: The biggest beneficiary of the move was palladium. The metal gained $16.30, or 2.5 percent, to $1,617.10 an ounce.

THE BEANS FROM BRAZIL: Coffee was the day's loser, falling 0.3 percent. Expectations of a bumper crop to come in Brazil, the world's largest producer of coffee beans, pushed prices lower.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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