Metals Lower, Copper Down Sharply As MF Fears Persist

The metals market is much lower today, with copper leading the way down, as MF Global (NYSE: MF), a major commodity brokerage has just filed bankruptcy. The Bank of Japan intervened in the currency markets last night, also helping to add to the weakness in commodities. Equities are lower, with all three indexes down over 1%. Copper is down 10.8 cents to trade at $3.598, a loss of 2.9%. Ipath Dow Jones Ubs Copper Total ETF (NYSE: JJC) is down $1.61 to $46.60, a loss of 3.34%. Silver is down sharply, down $1.01 to $34.28, as it tries to get over $35, which is the next mark for the precious metal. Shares of Ishares Silver Trust ETF (NYSE: SLV) are down 90 cents this morning, to trade at $33.37, a loss of 2.63%. Gold is down $26.10 an ounce to $1,721.10, a loss of 1.5%. Shares of Spdr Gold Trust ETF (NYSE: GLD) are down $2.17 to $167.45. Platinum is down $39.60 an ounce, trading at $1,612.20, a loss of 2.4%. The platinum ETF ETFS Physical Platinum Shares (NYSE: PPLT) is down $3.60 this morning to trade at $159.24, a loss of 2.21%. Palladium is down $12.40 an ounce today, trading at $656, as it looks like it will break $600 an ounce. Shares of ETFS Physical Palladium Shares (NASDAQ: PALL) are sharply lower today, down 82 cents to $64.80.