Oil prices, gold, cocoa: Commodities Check

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As stocks (^DJI, ^IXIC, ^GSPC) edge higher after Tuesday’s market open, commodities are holding onto their year-to-date gains. Yahoo Finance Senior Markets Reporter Jared Blikre reviews crude oil futures’ (CL=F, BZ=F) overnight movement, gold prices (GC=F), and cocoa (CC=F) coming off of its all-time high seen last month.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Well, I was taking a look at the, uh, futures.

Here.

Let me just pull that up on the Wi Fi Interactive dollar is not doing too much today.

And the futures are kind of quiet, but they’ve been making some really outsized moves recently.

So let me just go through some of our, uh, big tickers here.

So crude oil is one.

Crude oil is up about two thirds of a percent today.

Uh, this is the overnight price action.

Not a lot of incremental news.

Here we are.

We are getting some of those production figures from March where we saw Saudi Arabia really stepped up.

Whereas the US figures from February, they dropped and so did Libya.

But the price is holding below $80 a barrel.

If you look at the year to date, it’s been pretty choppy.

We’ve come down to what potentially could be a support area.

But I’m not seeing anything too significant in terms of level.

And we got to check out gold as well.

Gold is down about 1% still holding above 2300.

That’s emerged as a potential level of interest here.

And this is a year to day chart, you can see Gold is simply consolidating the gains that it’s made since it broke out.

And just as a reminder, here is a five year chart to show you how it broke out.

So looking healthy, there just not a whole lot of action today.

And then I want to touch on cocoa as well.

That’s been really on the move.

Let’s get the year today chart this move.

Now we’re seeing at the lowest levels in what is that?

A month and a half.

But this move here on $15,000 margin, you would have made 45,000 if you shorted.

That’s three times your money, a very short period of time, only to say that futures remain very volatile this year.