Metals fall, oil rises as investors parse economy

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Associated Press

Posted on March 26, 2013 at 4:01 PM

Updated Tuesday, Mar 26 at 4:02 PM

Key commodities are struggling for direction, pulled in opposite directions by the uncertainty caused by the Cyprus bailout and by optimistic signs that the U.S. economy is improving.

The precious metals and some key industrial metals fell Tuesday, while energy commodities were up and crops were mixed.

Copper for May delivery slipped 0.25 cent to $3.4425 per pound. July platinum lost more than 1 percent, down $17.10 to $1,569.80 per ounce. June gold dropped $9.20 to $1,597.30 per ounce. May silver lost 13.6 cents to $28.679 per ounce. June palladium was the exception, rising $4.05 to $761.40 per ounce.

Benchmark oil rose to a five-week high, at $96.34 a barrel, on the Nymex.

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