FX & CFD trading involves significant risk
Precious metals have come under pressure in recent trade. They had been up with modest gains in the early going, but now gold is down with a 0.4% loss at $1328 per ounce and silver is off by 0.6% at $27.99 per ounce. Oil prices had swung from a morning low of $91.06 per barrel to a modest gain at $92.45 per barrel, but the energy component is now back in the red with a 0.2% loss at $92.00 per barrel. Natural gas prices are down 1.3% to $4.36 per MMBtu. Despite the appearance of widespread weakness in the commodity space, the CRB Commodity Index is only down fractionally after it surged 1.8% to a two-year high yesterday. Support has come from cotton, which is up 1.8% to $1.72 per pound, and coffee, which is up 1.3% to $2.48 per pound.
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