Overall, commodity prices are recovering

The Nov NYMEX Crude oil futures contract opened near the low and closed at $108.02, near the high ($108.67). Conversely, gold opened at the high $891.50 and closed at the low ($877.70). What’s going on? Overall, commodity prices are recovering a bit but flat on the day yesterday—see the chart of the commodity price index.

Delay in passing the Paulson plan has been helpful to crude oil futures prices today (or rather, helpful to the dollar and to the consumer of oil)—the price fell to a low of $104.25 overnight and is languishing at $105.38 at 11:44 am GMT.

Buy for Now

Barbara Rockefeller - Forex Trading Reports