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Gold, silver futures slump after dollar gains; oil hits $123



By STEVENSON JACOBS, AP
07 May 2008 @ 01:41 pm EST

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Other energy futures also rose Wednesday. June gasoline futures added 1.6 cents to $3.1224 a gallon on the Nymex, while June heating oil future rose 7.70 cents to $3.4305 a gallon.

In agriculture futures, corn and soybean futures jumped for a second session on concerns that rainy weather in the U.S. Midwest will further delay planting and tighten supplies.

Soybeans for July delivery shot up 22 cents to $12.99 a bushel on the Chicago Board of Trade, while July corn futures rose 9 cents to $6.1525 a bushel.

Other agriculture futures traded mixed.

U.S. rice futures for July delivery added 50 cents to $21.60 per 100 pounds on the CBOT, while July wheat futures fell 11 cents to $8.07 a bushel.

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 This material may not be published, broadcast, rewritten or redistributed.

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