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Gold falls sharply as dollar recovers, oil drops from record



By STEVENSON JACOBS, AP
23 April 2008 @ 01:47 pm EST

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Other energy futures traded mixed. May gasoline futures rose 1.76 cents to $3.034 a gallon on the Nymex, while May heating oil lost about a penny to $3.3073 a gallon.

In agriculture markets, wheat prices plummeted to a five-month low on expectations that world wheat supplies will be adequate to meet demand.

Wheat for May delivery dropped 35.75 cents to $8.16 a bushel on the Chicago Board of Trade, its lowest level since November.

Other agriculture futures traded mixed. Soybeans for May delivery gained 9.25 cents to $13.84 a bushel on the CBOT, while May corn futures lost 3.75 cents to $5.905 a bushel.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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