Commodities fall on slower China growth forecast

AP News
Posted: Oct 08, 2012 4:24 PM
Commodities fall on slower China growth forecast

Prices for a wide range of commodities are lower after a forecast of slower growth in China ramps up worries about the global economy.

Gold, industrial metals, oil and soybeans finished lower Monday. Natural gas was a bright spot, ending up slightly.

The World Bank is cutting its growth forecast for China. It says the country is at risk of a more pronounced slowdown because of weak global demand.

Meanwhile, European finance ministers are meeting as unrest continues in Greece and Spain over austerity cuts.

A stronger dollar is making commodities more expensive for traders who use other currencies.

Grains and beans are mixed ahead of the next government update on supplies and demand, which is due out later this week.