AlHijjah 4, 1432, Oct 31, 2011, SPA -- Metal prices are starting the week lower as investors sell contracts to reap the gains from this months' rally, AP reported. Copper for December delivery fell 2 percent, to settle at $3.632 a pound. December Gold 1 percent to settle at $1,725.20 per ounce. Prices were lower in part because traders sold some of their holdings to lock in profits. The price of copper shot up 15 percent last week and gold jumped nearly 7 percent. Metal prices rose after European finance officials announced a plan to shore up banks and indebted nations there. The bailout is expected to increase inflation, which makes precious metals like gold more valuable. It is also expected to foster economic growth, which drives up the price of industrial raw materials like copper.
