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    Most commodity prices fall on Greece debt woes

    By The Associated Press | Associated Press – Fri, Feb 10, 2012

    Commodity prices are falling across the board after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth.

    Investors are selling commodities futures as a precaution in case there are developments over the weekend.

    Greek leaders crafted a plan to cut government spending and private-sector wages, but European finance ministers have demanded deeper cuts before approving more bailout money.

    Greece has promised to approve new austerity measures by Sunday despite public protests. The country could default on its debt unless it receives additional funding before March 20.

    Gold, silver and industrial metals are lower. Most energy contracts also are falling although natural gas is unchanged. Wheat and corn are declining while soybeans are up slightly.

     

    2 comments

    • David1
      David1  •  3 mths ago
      Don't expect the lower futures prices to show up in stores. They never hesitate to jack them up but dropping them down is a whole different ball game,, just like gasoline at the pumps.
    • LoyalAmerican
      LoyalAmerican  •  3 mths ago
      I don't understand how Greece can have gotten so messed up and has been able to impact everyone else so much. Does anyone understand one euro of Greek?
     Post a comment
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