Commodities Slump, Buy Gold Up (GLD, SLV, USO, UNG, AA, NOG, MMR)

Commodities were trading mostly lower on Monday with a sharp selloff in equities. However, gold was bucking the market trend and jumped about 15 on safe haven buying.Friday that The U.S. generated 120,000 jobs last month, well below economists’ estimates of an increase of 210,000, seasonally adjusted. The unemployment rate fell to 8.2%, the lowest level since January 2009, the decline stemmed entirely from people dropping out of the labor force. It’s the first time that’s happened this year.

March’s nonfarm payrolls marked the first time since November that job growth was below the 200,000 level.
Gold for June added $17, or 1%, at $1,647.70 per ounce on the Comex division of the New York Mercantile Exchange.
Silver for May delivery fell 36 cents to $31.37 an ounce. May copper slumped 9 cents, or 2.40%, to $3.71 an ounce.
The dollar index rose to 79.93, versus 79.840 in late North American trading on Friday. The euro fell 0.2252%   traded at $1.3073, down from $1.3092 Friday.On the other hand, crude oil slumped over 2% to $101 a barrel on speculation that s international talks this week may help end the fears of military action over Iran's nuclear program.
On Sunday, Iran state television said negotiations with the U.S., China, Russia, France, Britain and Germany over the country's nuclear program are scheduled to begin Friday in Istanbul. Fears that an attack on Iran's nuclear facilities by Israel or the U.S. would disrupt global crude supplies have provided strong rally for oil from $75 a barrel.
Meanwhile, May natural gas futures fell 1 cent to $2.09 per million British thermal units. May gasoline lost 8 cents, or 2.40%, to $3.26 a gallon. May heating oil slumped 5 cents, or 1.30%, to $3.12 a gallon,.

United States Oil Fund LP (ETF)(NYSEARCA:USO) lost 0.84 (-2.14%) to $38.42, United States Natural Gas Fund, LP(NYSEARCA:UNG) was down 0.01 (-0.06%) at $15.72, SPDR Gold Trust (ETF)(NYSEARCA:GLD) rose 0.90 (0.57%) at $159.21 and iShares Silver Trust (ETF)(NYSEARCA:SLV) fell 0.24 (-0.78%) at $30.48.
Alcoa Inc.(NYSE:AA) is trading higher by 0.50% as the company is all set to start  kicks off earnings season tomorrow after market hours.
Northern Oil & Gas, Inc.(NYSEAMEX:NOG) fell 0.84% to $20.02 despite analyst at Capital One upgraded the stock ) to Strong Buy from Add on a valuation call tied to the firm's potential to churn out higher profits.
Mcmoran Exploration Co(NYSE:MMR) shares slumped 4.32% after the company says it hasn’t been able to clear the blockage at its Davy Jones No. 1 well in the Gulf of Mexico, so it will remove tubing and clear residual