News Summary: Metals fall on manufacturing data

News Summary: Industrial metals fall after survey shows decline in New York area manufacturing

Associated Press

SLUGGISH METALS: Copper, silver and other industrial metals fell after a new survey showed manufacturing declined in December the New York area. It reflects a nationwide trend of sluggish manufacturing because of slower economic growth.

GOLD PERKS UP: Gold prices rose slightly on encouraging signs about U.S. budget negotiations. Unless a budget is in place Jan. 1, spending cuts and tax hikes will go into effect that some economists believe will push the U.S. into recession.

PRICE MIX: Prices rose for gold, oil and natural gas. Wheat and corn fell while soybeans were flat.

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