Summary Box: Gold falls on European financial help

AP News
|
Posted: Sep 15, 2011 3:18 PM
Summary Box: Gold falls on European financial help

GOLD MOVES: Gold prices fell 2.5 percent after five of the world's top central banks made a joint offer to support European lenders in a move designed to ease concerns about the region's debt crisis. Gold is up about 25 percent for the year.

EUROPEAN FACTOR: The move by the central banks was welcomed by investors who have been concerned that the sovereign debt problems could affect the European and U.S. economies. Many sold gold to move money into riskier assets.

GAINS, LOSSES: Wheat, corn and soybeans fell. Most energy products were higher.