BR: Dollar Index Remains in Negative Territory, Gold Near Flat Line, Oil Down
[BRIEFING.COM] The dollar index continues to trade lower and is currently about 0.6% in the red. However, this is not providing price support to most commodities. The ag space on the other hand is mostly higher, but is only showing modest gains (sugar +0.9%, cocoa -0.8%, coffee +0.5%, orange juice +0.01%)
Energy markets are lower this morning with crude trading near the $98 level. The energy component began to sell-off about 30 minutes before pit trading opened and fell as low as $97.78/barrel. In current trade, crude is down 0.9% to $98.27/barrel. Natural gas followed a similar pattern to crude and is currently down 1.1% at $4.31/MMBtu
Gold has been chopping around this morning and showing little direction. Meanwhile, silver just sold-off over $0.40/oz within the last 25 minutes to new session lows of $40.05. Gold is currently down -0.1% at $1610.00/oz and silver is 0.6% lower at $40.14/oz.