Metals edge lower as shutdown continues

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Associated Press

Posted on October 3, 2013 at 5:00 PM

Updated Thursday, Oct 3 at 5:01 PM

Metals and oil prices are closing mostly lower as a partial shutdown of the U.S. government drags on.

Gold and silver edged lower after two days of big swings. Gold for December delivery slipped $3.10 to $1,317.60 an ounce, while December silver fell 11.1 cents to $21.786 an ounce.

Oil for November delivery fell 79 cents to close at $103.31 a barrel in New York.

Investors are concerned that a prolonged shutdown could hurt demand for energy. Republicans in the House of Representatives have insisted on linking new budget legislation with scaling back the new health care law.

Traders are increasingly concerned that the dispute could cause a delay in increasing the government's borrowing limit this month so it can continue to pay its bills.

Crop prices edged higher.

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