Oct 25, 2012 3:44 PM by AP posted by Juice Godfrey
The price of copper is falling after unimpressive home sales and orders for long-lasting goods failed to ease questions about demand for the metal.
Copper for December delivery dropped 1.75 cents Thursday to finish at $3.5505 per pound. It's the sixth consecutive day that the price has fallen.
The National Association of Realtors says the number of people who signed contracts to buy homes rose slightly in September. And a government report indicates that businesses are being careful about spending money on longer-lasting goods like machinery and equipment.
That's raising questions about future demand for copper in the slow global economy.
In other trading, prices are higher for gold, platinum, oil and gasoline. Natural gas, wheat, corn and soybeans are lower.
3 hours ago