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Despite modest strength in the dollar index, most commodities are trading higher this morning. Silver is extending gains from yesterday and is currently one of the best performing commodities after sugar futures, which are 4.1% higher.
Silver traded between ~$37-38 for most of the overnight session before breaking out again and pushing past $38.50. In current trade, silver is up 3.5% at $38.42/ounce.
Gold extended yesterday's gains as well in the overnight session. it hit session highs of $1518.90 just a few minutes before floor trading began, but after touching that level, it went on to steadily decline $12/oz. over the next hour. it has since recovered and is back near session highs, now at $1515.20, up 0.8%.
Crude oil has been in the red for the entire session so for today. Since the close of floor trade yesterday, crude has remained above the $100 level, but it did get close by falling to $100.15. The energy component has recovered off those session lows and is now down 0.2% at $102.36/barrel. Natural gas 0.8% higher at $4.25/MMBtu.
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