after opening lower on worries about higher inventories,
turned higher on the news Venezuela is having trouble with one of
its catalystic crackers... don't know when it will resume
operations... refinery problems recently have been the
major factor in gasoline surging.. believe June gasoline
futures, now at 106.80 cents, could hit 110 cents in near
future... May futures hit 116 cents last week, which bit
overdone... crude is up at $28.50 level.
Gold, Platinum Higher
DAVID MEGER, Alaron Trading, Chicago (12:30 p.m. EDT): Gold up to $266.50
level but off earlier highs when dollar faltered against
yen, euro... dollar index recovered from earlier lows...
nevertheless, the gold looking better than it has for
while... report some buying on dips... also report some
funds buying... see resistance at $268... Platinum up to
$624.80 on continued fund buying even though lease
rates have fallen... waiting to see if it can hold above
$620 resistance level.