News Summary: Gold has biggest drop in 3 weeks

AP News
Posted: Nov 28, 2012 5:37 PM

GOLD DROP: Gold fell 1.5 percent. The last time gold had a bigger fall was Nov. 2. The December contract gave up $25.80 an ounce to settle at $1,716.50 an ounce.

OIL PARES LOSSES: Crude recovered some of the ground it lost, after the Federal Reserve said the economy was improving across much of the U.S. Oil fell 69 cents to finish at $86.49 per barrel.

TRAIL MIX: Agricultural futures were mixed. March wheat rose 2.75 cents to $8.9125 a bushel, March corn was flat at $7.64 a bushel and January soybeans fell 3 cents to $14.4625 a bushel.