Summary Box: Some metals fall on inflation fears

Wednesday, February 23rd, 2011 | Finance News

METALS FALL: Palladium, platinum and copper fell as skyrocketing oil prices renewed worries about inflation hurting sales of automobiles and other products in fast-growing countries such as China. The three metals are largely used in manufacturing.

OIL SURGES: Oil hit $100 a barrel before settling at $98.10 a barrel on uncertainty about whether violence in Libya will spread to other countries in the oil-rich regions of the Middle East and North Africa.

SAFETY PLAY: Gold and silver continued to rally because of their appeal as relatively safe assets.