Gold, silver edge lower; grain prices rise sharply

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Associated Press

Posted on May 9, 2013 at 3:02 PM

Updated Thursday, May 9 at 5:01 PM

Corn and wheat futures are settling sharply higher, while gold and silver are slipping.

Energy prices were little changed.

In July contracts, corn rose 15.75 cents to $6.4875 a bushel, an increase of 2.5 percent. Wheat rose 17.50 cents to $7.235 a bushel, also up 2.5 percent.

Soybeans rose 18 cents, or 1.3 percent, to $14.0875 a bushel.

The price of crude oil fell slightly as the dollar strengthened against foreign currencies and concerns grew about inflation in China.

Benchmark oil for June delivery lost 23 cents to finish at $96.39 a barrel on the New York Mercantile Exchange.

Other energy contracts ended slightly higher.

Gold for June delivery fell $5.10 to $1,468.60 an ounce.

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