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Gold futures surge after initial crude rally



By STEVENSON JACOBS, AP
15 May 2008 @ 05:25 pm EST

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Other energy futures traded mixed Thursday. June gasoline futures fell 1.46 cents to settle at $3.1658 a gallon, and June heating oil futures rose 0.46 cent to settle at $3.6224 a gallon.

In agriculture markets, soybean prices plunged on expectations that Argentina's government will resolve an export tax dispute with farmers that has slowed shipments.

Soybeans for July delivery fell 32 cents to settle at $13.475 a bushel on the Chicago Board of Trade, after earlier falling as low as $13.12 a bushel.

Other agriculture commodities traded mixed Thursday. July wheat added 7.5 cents to settle at $7.715 a bushel on the CBOT, while July rice futures fell $1.15 to settle at $20.34 per 100 pounds.

July corn futures, meanwhile, gained 2.75 cents to settle at $5.99.

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 This material may not be published, broadcast, rewritten or redistributed.

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