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Thursday, May 04, 2006

Markets To Watch Today

Crude Oil: Crude Oil futures prices fell on news of an increase in both Crude and Gasoline stocks. The market remains sensitive to possible supply disruptions from Iran, but the news added confidence in US refineries ability to meet the strong summer demand. June Crude Oil is trading at 71.50, down another 78 cents in overnight trading.


Gold: Gold hit new highs early in the session, but showed signs of weakness on the Crude sell off began. Bargain hunters jumped back in the market to see the metal close higher for the day. June Gold is trading at 673.50, up $5 this morning.


Silver: Silver was not able to find the same support after the energy report was released. The contract dropped a dollar in a matter of minutes, and though some buyers could be found after the fall, the contract closed lower for the session. July Silver is trading at 13.850, up 5.5 cents this morning.