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Monday, September 18, 2006

Markets to Watch Today

Crude Oil: October Crude Oil recovered from early losses on Friday, ending the day slightly higher. Short-covering before the weekend was attributed to the recovery. Crude Oil still managed to lose more than 4% for the week. The October Crude Oil futures rose 11 cents, to settle at $63.33 a barrel.

Wheat: December Wheat futures closed lower again on Friday, ending a week-long decline. Friday’s drop was attributed to weaker-than-expected export demand. Commodity-wide fund selling has also factored in to the recent weakness. December Wheat fell 7 cents, to settle at $3.90 ¼ a bushel.

Gold: December Gold futures closed lower again on Friday, marking the seventh time in the past eight days the contract has fallen. Gold continues to fall in conjunction with plummeting energy prices and a rising U.S. Dollar. The December contract fell 5.6% on the week. December Gold futures fell $3.00, to settle at $583 a troy ounce.