Silver future plunged by the close of trading following the
reported imposition of tighter margin requirements. Gold ended
lower while crude futures surged to near $88 a barrel.
Crude oil for December delivery closed up 1.3%, or $1.09, to
settle at $87.81 a barrel. In other energy futures, heating oil was
up 1.39% to $2.44 a gallon while natural gas fell 4.28%, to $4.03
per million British thermal units.
In energy ETFs, the United States Oil Fund (
) is up 2.13% to $37.84. The United States Natural Gas ETF (
) is down 3.48% to $5.83.
Meanwhile, silver futures were the story today after the metal
plunged following the imposition of tighter margin requirements,
MarketWatch reported. Late yesterday, the CME Group boosted margin
requirements for silver, the report said. The move was apparently
made to curb the volatility in the metal.
Gold finished lower as well.
Gold for December delivery finished down 0.8% to $1,399.30 an
ounce. In other metal futures, silver fell 7.1% to $26.87 a troy
ounce while copper fell 1.42% to $3.98 a pound.
In metal ETFs, SPDR Gold Trust (
) is up 0.94% to $136.87. Market Vectors Gold Miners (
) is up 2.41% to $61.13. iShares Silver Trust (
) is up 1.15% to $26.48.
Commodities to watch:
--Cotton futures pared earlier-session gains following signs
that demand in China could slow, according to a Bloomberg report.
The move in cotton futures came after China's central bank raised
lenders' reserve requirements to cool the economy, the report
Commodity stocks to watch:
--Chemical fertilizer company Hanfeng Evergreen (
) said that first-quarter results missed estimates and were hurt by
lower production. Reuters reported. Hanfeng Evergreen shares traded
in the U.S. were down 11.22%, or $0.73, to $5.81.
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