Investors ploughed their money back into commodities Monday with oil, gold and silver prices all recovering from last week's rout.
Crude oil for June delivery settled up $5.51 at $102.69 a barrel on the New York Mercantile Exchange as bargain hunters moved in. Crude touched an intra-day high of $103.40 late in the session.
Oil prices surged 5%, gold added just over 1% while silver prices charged 6% higher.
Gold futures for June delivery rose $16.70 to close above $1,500 at $1,507.90 an ounce on renewed concern about euro zone sovereign debt.
Fears were heightened after Standard & Poor's downgraded Greece's credit rating by two notches and Moody's placed the debt on review for a possible downgrade.
Silver for July delivery rose $2.18 to end at $38.47 an ounce as bargain hunters moved in after last week's dramatic plunge after the grey metal was badly hit by higher margin requirements.
All I can say is keep Buying those dips!
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