Commodity prices fall on global growth worries

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Associated Press

Posted on September 24, 2012 at 3:02 PM

Updated Monday, Sep 24 at 3:02 PM

Most commodity prices are dropping as worries about global economic growth bubble back to the surface.

Gold, industrial metals and energy products all fell Monday after a closely watched survey showed business confidence fell for a fifth straight month in Germany. The decline suggests that Europe's debt crisis is hurting the region's biggest economy.

The U.S. and China have recently shown signs of weaker economic growth as well.

Slower economic growth cuts into demand for such commodities as copper, platinum, palladium and energy products.

Analysts say investors are selling commodities for a profit. Some are using that money to buy safer assets such as Treasurys.

In other trading, orange juice futures are down 5.2 percent on expectations that storms in the Atlantic will miss key growing regions in Florida.

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