Crude oil, most precious metals higher

Crude oil prices were higher on Monday. June contracts for West Texas Intermediate crude had added $1.06 to $66 per barrel in early afternoon trade on the New York Mercantile Exchange. The contracts had been trading in a range between $64.50 and $66.20 during the morning session.

June Nymex gasoline was even at $2.41 per gallon, trading in a range between $2.36 and $2.41 per gallon. Nymex July heating oil was 3 cents higher to $1.95 per gallon after trading between $1.91 and $1.96 per gallon. Meanwhile, July natural gas futures dropped 6 cents to $8.07 per million British thermal units. Natural gas had traded in a range between $7.99 and $8.13 per mBtu during the morning.

The prices of most precious metals were higher on Monday. June Gold added $1.80 to $663.70 per troy ounce. However a new report form the World Gold Council said that investment demand was lower in the first quarter and analysts were prediction that prices might well drop further.

June palladium was also higher, adding $9.05 to $374.30 per troy ounce. Meanwhile, July silver added 12.7 cents to $13.13 per troy ounce by the close of the session. July Platinum, however, declined on the session, falling $6.50 to $1,319.70 per troy ounce. The decline extended its recent losses to $15. Among base metals, July copper added 7.7 percent to $3.4005 per pound.

As of Friday, inventories of gold were up to 7.71 million troy ounces, while silver stockpiles remained unchanged at 132 million troy ounces and copper supplies were steady at 31,379 short tons.

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