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[BRIEFING.COM] Broad support for commodities has helped drive the CRB Commodity Index to a 1.5% gain.
At an individual level, oil prices are up a sharp 1.9% to $78.65 per barrel. Natural gas prices are up an even sharper 3.2% to $5.16 per MMBtu.
Gold prices set a new record high overnight, when August futures prices for the yellow metal hit $1266.50 per ounce. The precious metal has since pulled back to trade with a fractional loss at $1255.50 per ounce, though; its retreat comes in response to considerable support for stocks instead of safety plays.
Silver prices had managed to hold on to gains a bit longer. The metal had been in positive territory for most of the morning, but it has since pulled back to $19.20 per ounce to trade flat for the session.
Copper prices are strong, though. The metal is currently priced at $301 per pound, up 3.9%. Its strength stems largely from news that China will let its currency move more freely -- a move that could benefit exporters of natural resources to the country.
