Summary Box: Economic fears weigh on copper

AP News
Posted: Oct 03, 2011 3:22 PM
Summary Box: Economic fears weigh on copper

ECONOMIC WEIGHT: Copper prices fell slightly as ever-present concerns about the slowing global economy overshadowed improvements in U.S. manufacturing, auto sales and construction spending. Platinum and palladium also ended lower.

GREEK FACTOR: Greece said it will miss deficit reduction targets it agreed to as part of a deal to receive another round of emergency funding. That's worrying investors and creating more pressure on European leaders to resolve the crisis.

FLIGHT TO SAFETY: Gold and silver both rose. Investors consider the two precious metals as relatively stable stores of value when there are questions about how strong the economy is.