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Gold and crude oil were among the losers in the commodity market Monday, as most energy, metals and agricultural contracts pulled back.

Oil for May delivery was down $1.46 to $51.05 a barrel at the New York Mercantile Exchange late in the day, while reformulated gasoline fell more than 1 cent to $1.48 a gallon.

Meanwhile, gold slumped $24.50 to $872.80 an ounce, and silver slid 63 cents to $12.11 an ounce. Copper was little changed.

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On the ag side, wheat, sugar, soybeans, cocoa, coffee and cotton declined. Corn and frozen concentrated orange juice were higher. Lean hogs dropped, but cattle edged ahead. The Reuters/Jefferies CRB Index lost 5.12 points to 223.81.

As for commodity-related stocks,

Rio Tinto

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fell 12.4% to $130.99 after reports it might be considering a multibillion-dollar rights issue.

Mining-equipment companies

Joy Global

(JOYG)

and

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Bucyrus International

(BUCY)

were upgraded at JPMorgan, but both shares traded lower by about 1%.

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

was down 1.2% at $69.57, and fellow oil major

Chevron

(CVX) - Get Chevron Corporation Report

was off 1.8% at $69.21. The

U.S. Oil

(USO) - Get United States Oil Fund Report

exchange-traded fund was falling 2.4% to $30.18.

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