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Wednesday, May 17, 2006

Markets To Watch Today

Copper: Copper has bounced around to start the week. The contract's volatility has prompted the exchange to raise margins multiple times over the past month. After reaching a low of $3.4640 on Monday, down 14% from Thursday's high of 4.0400, the contract closed higher in yesterday's session. June Copper is trading at 3.8170, down a dime this morning.


Gold: Gold prices rebounded from the losses suffered on Monday to close higher in yesterday's session The gains were supported by a weaker US Dollar and renewed speculator interest. June Gold is trading at $703.50, up $10.90 this morning.


Crude Oil: Crude Oil closed slightly higher, failing to close above that psychologically important $70 mark. Volume is light this morning, as traders await the release of the Energy Stocks report to be released at 9:30 am Central. June Crude is trading at $69.35, down 18 cents this morning.


Natural Gas: Natural Gas recovered from the contract's 1 year low hit on Monday. The contract has dropped over 10% since Friday on forecasts of mild weather and plentiful supplies. Traders await storage numbers to be released tomorrow morning. June Natural Gas is trading at $6.300, up 5.8 cents this morning.