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Commodities are trading higher today, while the dollar index continues to trade in the red and is only. The CRB Commodities Index is showing gains of 0.4% currently.
Natural gas futures have been running higher ahead of this morning's inventory data. The energy component opened pit trading around $4.66/MMBtu and rallied up to current session highs of $4.71/MMBtu. Ahead of the data, it was just under that high. Following the data, which showed a build of 83 bcf versus the consensus of a build of ~90bcf, natural gas futures spiked ~2.8% to new session highs of $4.83/MMBtu and are now up 3.8% at $4.80/MMBtu.
Crude oil futures ticked lower at the open of pit trading, but have remained above the $100.00/barrel level all morning. Crude almost hit the $101 area when it rallied this morning in the first 30 minutes of trade, but stopped at $100.96/barrel (current session highs) and is now up 0.1% at $100.39/barrel.
Precious metals were lower earlier this morning and are now extending those losses, mostly notably in silver futures. Silver just quickly fell another ~40 cents/oz to new session lows of $36.46/oz. and is now down 2.9% at $36.59/oz. Gold sold off as well, but the losses are much more modest. Gold lost just over $2/oz. to new session lows of $1535.20/oz. during the time silver sold off in recent trade. Gold is currently 0.5% lower at $1535.90/oz.
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