Precious metals decline, led by silver

AP News
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Posted: Apr 02, 2013 5:16 PM

Precious metals prices are falling as demand for alternative investments decreases.

Silver prices fell the most, declining for a fifth straight day.

May silver fell 69.60 cents, or 2.5 percent, to $27.248 an ounce Tuesday.

The price of the metal has fallen more than 7 percent since the start of the year as U.S. stocks have rallied. Gold, palladium and platinum also fell Tuesday. Only copper bucked the trend and edged higher.

In other commodities trading, corn extended its decline and fell for a third day.

Corn prices have slumped 13 percent in the last three trading days since a U.S. Department of Agriculture report showed that corn inventories were higher than analysts had forecast.

Wheat and soybeans both edged higher.