Summary Box: Gold down in 6th straight trading day

AP News
|
Posted: Dec 29, 2011 4:30 PM
Summary Box: Gold down in 6th straight trading day

GOLD FALLS: Gold is down for the sixth straight trading day. The February gold contract fell $23.20, or 1.5 percent, to $1,540.90 an ounce.

LOW LEVEL: Gold closed at its lowest point since July. Gold has fallen almost 5 percent since Dec. 20. It's down 11 percent this month. Gold rallied this summer, but many traders think it is now overpriced. Traders are shifting their money into riskier investments, like stocks.

CROPS RISE: Wheat dropped 6 cents to finish at $6.4525 per bushel. Corn fell 4.5 cents to $6.38 per bushel. Soybeans fell 11 cents to $11.97 per bushel.