Commodities Mixed In AM Trading. ( USO, UNG, SLV, GLD, SU, PCG, NBL )

Gold & Silver Recovers After Jobless Data, Crude Oil Flat (USO, UNG, SLV, GLD, AONE, SU, PCG, NBL)

Commodities came off session lows after the initial jobless claims declined last week in the United States and a 0.4% rise in producer prices in February was better than estimated rise of 0.50%.
Crude oil for April delivery was up a penny to $10.44 a barrel on the New York Mercantile Exchange, after hitting session low of $105 earlier.

Gold for April delivery recovered $2 or 0.11% to $1,644 an ounce on the Comex division of the New York Mercantile Exchange after falling about 5% in the past few trading session. Natural Gas continued to trade lower and slid another 2% to $2.204 ahead of storage data, which is expected to show lower withdrawal from record high inventories.
Earlier, the Labor Department reported that U.S. jobless claims fell to 4-year low with unemployment benefits slid by 14,000 last week to 351,000 from 365,000, the government reported. Claims from the prior week were revised up from 362,000.

Also Thursday, the Labor Department said continuing claims fell by 81,000 to a seasonally adjusted 3.34 million in the week ended March 3.
Also, the producer price index surged a seasonally adjusted 0.4% last month, the Labor Department said Thursday, better than economists’ target of 0.5% hike.

In Europe, The Empire State index climbed to 20.2 in March, the highest level since 2010, but new orders and shipments slowed and the six-month outlook slid slightly.
The dollar corrected after recent highs against the Yen and Euro, which is providing some supports to the broader commodities. The dollar index fell 80.39, from 80.596 in late North American trading Wednesday.
United States Oil Fund LP (ETF)(NYSEARCA:USO) was trading flat at $40.41, United States Natural Gas Fund, LP(NYSEARCA:UNG) jumped 0.30 (1.66%) to $18.39, SPDR Gold Trust (ETF)(NYSEARCA:GLD) added 0.66 (0.41%) to $160.23 and iShares Silver Trust (ETF)(NYSEARCA:SLV) also added 0.23 (0.74%) to $31.48.

Stocks In News:
A123 Systems, Inc.(NASDAQ:AONE) shares are up over 1% after reaching a deal to develop battery packs for a plug-in hybrid sedan to be manufactured by Chinese automaker Geely. The car is expected to launch in China in 2014.
Noble Energy, Inc.(NYSE:NBL) rose 2.50% after it signed a 15-year gas sales agreement with Israel Electric to sell natural gas from the Tamar field off the Israeli coast.
PG&E Corporation(NYSE:PCG) announced that a 5.9 million share worth $250M stock offering. The utility says it will use the proceeds for general corporate purposes
Suncor Energy Inc. (USA)(NYSE:SU) recovered over 1% after falling 4% in the prior session after reporting one of two upgraders at its oil sands facility will be taken offline for three to five weeks for unplanned maintenance.