Summary Box: Gold falls on hopes of debt solutions

AP News
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Posted: Jul 20, 2011 3:15 PM
Summary Box: Gold falls on hopes of debt solutions

BIT OF TARNISH: Gold fell on signs of progress toward resolving debt problems in the United States and Europe. Gold settled at $1,596.90 an ounce, its second day of lower prices after topping $1,600 an ounce.

DEBT DEBATES: Investors are closely monitoring negotiations over debt issues in the U.S. and Europe. They are concerned that a failure to solve the problems could affect the global economy.

COPPER FALLS: Copper fell after the National Association of Realtors said sales of previously occupied homes dropped in June to a seasonally adjusted annual rate of 4.77 million homes.