NEW YORK (AP) — Commodity prices are sharply lower amid a flood of bearish economic data.
Prices for gold, copper and oil are all down after a private research group said consumer confidence fell in June. If consumers are worried about the economy, they will keep their wallets tight, which hurts demand for basic materials.
Grain prices are getting hit hard by a government report showing farmers planted more acreage than expected this year.
Gold for August delivery is down $13.30, or 1.4 percent, to $927.40 an ounce on the New York Mercantile Exchange.
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Corn prices, meanwhile, are down 30 cents — the maximum amount prices are able to fall in a single session — to finish at $3.5450 a bushel.