Gold was mildly lower until the second hour of New York trading, when it suddenly fell off a cliff, giving up $35 in a matter of minutes, then fell again in the late morning to below $800, before late buying pushed it back up to finish at $804.30, down $33.80. Overnight, gold is trending lower.

Platinum declined from the overseas markets until near the noon hour, dropping below $850, but then rallied back to end at $896/oz., down $72. Overnight, platinum has fallen off.

Silver held up until early New York trading, then was smacked down, hard, dropping about a dollar in the next two hours and, though it recovered off its lows, was unable to make it back to the $10 mark, closing at $9.65/oz., down 60 cents. Overnight, silver has been flat. (Click here for charts)

The precious metals had a dismal day, as all the market forces turned

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Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

Proof that Americans are driving less came on Wednesday in the form of an unexpected rise in U.S. oil and gas supplies. The surplus, as well as anxieties over the status of the $700B bailout package, led to the price of oil falling below $98 per barrel. The price of light sweet crude for November delivery fell as low as $95.95 in morning trading. In addition to a battered economy forcing people to drive less, supplies have been boosted by the normalizing of Gulf Coast energy operations after shutdowns caused by a crippling hurricane season. Many experts believe that demand will remain relatively weak for the time being.

Let us hear your thoughts below:

It was a wild ride for gold on Monday, with a near $60 swing between low and high, with much of the action coming on the Globex, after the bailout vote, as the metal spiked to $925 before subsiding to finish at $903.50, up $24.60 from Friday. Overnight, gold has fallen off.

It seems the honeymoon might already be over. On Monday 09/22/08, stocks fell on concerns that the government plan to bailout financial companies, by buying up the bad mortgages and other assets weighing down their balance sheet, will not halt the downward spiral towards a worsening economy.

The plan which is estimated to cost at least $700 billion dollars caused the dollar to fall against major currencies. If implemented, the plan will drastically increase the liabilities of the U.S. government and that raises concerns amongst those who buy U.S. government bonds.

As a result, foreign investors are now worrying about whether the U.S. is the safest place for them to put their money.

With the drop in the dollar and the fact that Monday was an expiration day for oil futures, oil for November delivery, surged $16, closing at $109.37 on the futures markets. It was only last week that equity investors were celebrating oil

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Index Indicators still Positive, But This has been a very difficult week for stocks and Thursday is looking to be another day of negative movement in the indexes. The index indicators are still showing a positive bias but with this weeks action they could signal a hold instead of a buy today or tomorrow. Oil, Gold and Commodities Oil (USO), gold (GLD), and other commodities such as coal (KOL) and grains (MOO) are doing well today as the dollar (UUP) has fallen. This is a problem for the stock market as the price of oil falling has led the markets higher recently despite not the best earnings news. Financials Again When everyone is hoping the credit crisis is behind us, it seems like the financial story will not end. Freddy ...

Suncor Energy Inc. (NYSE:SU) is the world's second-largest oil-sands mining company and its shares are down 30% since late May.  The Masters have gone on and on about the DUG, but the lower SU goes the more tempting it becomes to buy shares.  But when will the pain end for Suncor shareholders? Its great watching oil prices ...