News Summary: Copper, silver declines

New Summary: Copper and silver decline as the likelihood of a budget deal before year-end wane

Associated Press

SLOWDOWN COMING?: The price of copper dipped as the chances of lawmakers reaching a budget deal before year end faded. If no agreement is reached a series of tax hikes and spending cuts will be implemented, measures that economists say will likely push the U.S. into a recession.

COPPER BOTTOM: Copper, which moves with the outlook for global economic growth, dropped 0.6 percent Monday and has fallen 3 percent this month.

HOLIDAY TRADING: In quiet trading before the Christmas holiday many commodities were little changed.

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