MW: Copper extends losses after retail data; gold dips
Copper futures extended their losses in New York Wednesday morning as worse-than-expected U.S. retail sales data dampened hopes about a swift economic recovery. Gold fell slightly as the dollar rose. Copper for July delivery fell 6.6 cents, or 3.2%, to $2.02 a pound on the Comex division of the New York Mercantile Exchange. Meanwhile, June gold fell $4.50 or 0.5%, to $919.40 an ounce. U.S. retail sales dropped a seasonally adjusted 0.4%, the eighth decline in the past 10 months, the Commerce Department estimated Wednesday.
