AP reported that commodity prices were mixed Monday after the leaders of Germany and France unveiled a plan to bolster long term confidence in the euro.

Mr Nicolas Sarkozy president of France and German Chancellor Ms Angela Merkel called for changes to the European Union treaty that are aimed at avoiding another economic crisis by establishing more fiscal discipline for the 17 nations that use the euro currency. European leaders will discuss the issues Friday during a summit in Brussels.

Investors sorted through the details of the plan to try to determine if it could ease concerns about Europe's economy and sovereign debt problems. Gold fell about 1% as some investors sold holdings at a profit after the price rose nearly 4% last week. Copper, palladium and oil rose on expectations that demand could strengthen.

Analysts expect gold to remain volatile heading into the summit. Mr Matt Zeman analyst of Kingsview Financial said that the price could climb, for example, if there is negative economic news. Gold has the reputation of being a safe asset to hold during uncertain economic times.

Gold for February delivery fell USD 16.80 to end at USD 1,734.50 an ounce. March silver fell 31.4 cents to USD 32.372 an ounce and January platinum fell USD 16 to end at USD 1,532.50 an ounce.

Copper and palladium are metals used in manufacturing everything from automobiles to electronics. Copper for March delivery rose 3.1 cents to finish at USD 3.6155 a pound while palladium rose 65 cents to USD 646.50 an ounce.

(Sourced from the Associated Press)