Gold Lower, USD Higher, Stocks Lower  + Commodities

Gold Lower, USD Higher, Stocks Lower  + Commodities

$GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT

  • Gold Coming Off of 3 Month Highs
  • US Dollar (.DXY) Index Firms
  • Crude Oils Mixed
  • Asian Stocks Pressured
  • Traders eye US Economic Data
  • Traders eye US Earnings Data

In Asia

Gold prices edged down Tuesday as the USD gained on worries over slowing economic growth and fears the US- China trade dispute could heat up again.

ICE Brent Crude Oil prices dipped Tuesday, weighed down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran’s Crude Oil exports, there is not shortage of Crude Oil in the world now.

  • Spot gold was down 0.2% at $1,227.41 oz at 0200 GMT, after falling 0.3% Monday.
  • US gold futures (GCcv1) were up 0.2% at $1,229.30 oz
  • Front-month Brent Crude Oil futures were at $77.18 bbl at 0518 GMT, -16 cents, or 0.2%, from Monday’s close.
  • NYMEX WTI Crude Oil futures firmed at $67.19 bl, up 15c from their last settlement, bringing down the spread between the 2 main Crude Oil price benchmarks to below $10 bbl.
  • USD firmed against its peers Tuesday .DXY , gaining 0.1%
  • US is prepared to announce tariffs on all remaining Chinese imports by early December if talks in November between Presidents Donald Trump and Xi Jinping fail to ease the trade dispute.
  • Asian shares under pressure in early Tuesday trade.
  • Wall Street finished off some, hurt by the fresh worries of an escalation in the trade dispute, may see the worst October since the financial crisis in Y 2008.
  •  US consumer spending climbed for a 7th straight month running in September
  • Income recorded a gain on moderate wage growth.
  • Growth in China’s factory sector likely cooled further in October as domestic demand faltered and exporters felt a bigger sting from trade dust-up with the US.
  • Germany’s Angela Merkel said that her 4th term as chancellor would be her last and that she would step down as leader of the Christian Democrats (CDU), heralding the end of a 13-year era in which she has dominated EU politics.
  • The London Bullion Market Association (LBMA) will begin publishing data on 20 November that will provide the most accurate picture yet of the size of London’s gold trade.
  • Banks and brokerages have cut their average gold price forecasts for this year and Y 2019 after the metal slumped to 19-month lows in August, they still expect prices to stage a modest recovery.
  • Palladium’s price premium over Platinum will widen next year, with palladium set for its best year on record.
  • Platinum seeing its worst performance since Y 2004.
  • Holdings in SPDR Gold Trust (GLD), the world’s largest gold-backed exchange-traded fund, rose 0.71% to 754.94 tonnes Monday

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
67.18USD
+0.14
+0.21% Nov 18 2:53AM EDT CLc1
ICE Brent Crude »
77.25USD
-0.09
-0.12% Oct 18 8:00PM EDT LCOc1
NYMEX RBOB Gasoline »
1.82USD
-0.00
-0.16% Oct 18 2:49AM EDT RBc1
Dubai Crude Spot »
76.10USD
+0.58
+0.76% Dec 02 3:03AM EDT DUB-1M
ICE Gas Oil »
708.75USD
-2.75
-0.39% Nov 18 8:00PM EDT LGOc1
NYMEX No2 Heating Oil »
2.28USD
-0.00
-0.00% Oct 18 2:43AM EDT HOc1
NYMEX Nat Gas »
3.19USD
-0.01
-0.19% Nov 18 2:53AM EDT NGc1
ICE NBP Nat Gas »
67.16GBP
+0.00
0.00% Oct 18 8:00PM EDT NGLNMc1

 

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,227.22USD
-2.13
-0.17% Dec 02 8:00PM EDT XAU=X
COMEX 100oz Gold »
1,226.70USD
+2.00
+0.16% Nov 18 11:09PM EDT GCc1
Silver Spot »
14.47USD
+0.02
+0.13% Dec 02 8:00PM EDT XAG=X
Platinum Spot »
833.30USD
+1.30
+0.16% Dec 02 8:00PM EDT XPT=X
Palladium Spot »
1,093.70USD
+5.20
+0.48% Dec 02 8:00PM EDT XPD=X
COMEX Copper »
2.72USD
-0.02
-0.87% Nov 18 2:47AM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
366.50USC
-0.25
-0.07% Dec 18 2:50AM EDT Cc1
CBOT Wheat »
504.75USC
-2.50
-0.50% Dec 18 2:54AM EDT Wc1
KCBT Wheat »
498.75USC
-2.75
-0.55% Dec 18 2:44AM EDT KWc1
MGE Spring Wheat »
576.25USC
-1.25
-0.22% Dec 18 2:44AM EDT 1MWEc1
Euronext Milling Wheat »
200.50EUR
+0.00
0.00% Dec 18 8:00PM EDT BL2c1
CBOT Soybean »
837.75USC
-1.25
-0.15% Nov 18 2:54AM EDT

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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