Commodities: Trump remarks spark renewed gains for gold, silver

Commodities were weaker nearly across the board, outside of copper and natural gas futures, on the heels of remarks from the US president-elect which acted as a drag on the dollar.

Front month West Texas Intermediate advanced 0.63% to $52.70, alongside gains of 0.72% for NYMEX-traded heating oil futures to $1.6633 a gallon.

Natural gas futures on the other hand were down by 1.08% at $3.38/MMBtu.

Precious metals were predictably higher as the US dollar index slipped to its worst level in over one month.

February 2017 gold futures jumped 1.34% to $1,212/oz. on COMEX while the March silver contract added 2.15% to $17.13/oz..

In parallel, March 2017 copper futures on COMEX retreated 2.62% to trade at $2.6195 per pound.

Over on the Chicago Board of Trade, March 2016 corn and wheat futures topped the leaderboard, with gains of approximately 2% for both.