Copper prices fall on global economic concerns

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Associated Press

Posted on April 9, 2012 at 3:01 PM

Updated Monday, Apr 9 at 3:01 PM

Copper prices are falling sharply as signs of a slower global economy raise questions about future demand for the industrial metal.

Copper ended down 2 percent Monday. Palladium and silver also fell.

The U.S. Labor Department reported Friday that employers added 120,000 jobs in March, about half the pace from December through February.

China's inflation rate increased to 3.6 percent from 3.2 percent in February, driven by higher fuel and food costs.

The economic concerns are benefiting, gold which finished up about 1 percent. The precious metal is considered a stable asset to hold when there's uncertainty about the economy.

In other trading, prices for platinum, natural gas and wheat are higher. Corn, soybeans, orange juice and most energy products are lower.

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