Gold Higher, USD Lower, Stocks Higher  + Commodities

Gold Higher, USD Lower, Stocks Higher  + Commodities

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

  • Gold Prices Higher
  • US Dollar Eases
  • Crude Oils Down
  • Asian Stocks Higher
  • Traders eye US Economic Data
  • Traders eye US Earnings Data

In Asia

Gold prices inched higher in early Asian trade Thursday, recovering from a 3-week low marked in the Wednesday’s session as the USD eased.

  • Spot gold was up 0.2% at $1,216.23 an ounce, as of 0123 GMT; prices fell to their lowest since 11 October at $1,211.52 oz Wednesday.
  • US gold futures + 0.2% to $1,217.8 oz.
  • The US Dollar (.DXY) Index , which measures the Buck against a basket of 6 peer currencies, was down 0.2%.
  • The SPDR Gold Trust (GLD) , the world’s largest gold-backed ETF, said its holdings fell 0.12% to 754.06 tonnes Wednesday from 754.94 tonnes Tuesday.
  • The US Mint sold 22,000 oz of American Eagle gold coins in October, +7.3% from the prior month.
  • South Africa’s Impala Platinum (Implats) said Wednesday it was in talks to sell its 1 Shaft operation in Rustenburg in a move to make its struggling mines profitable, sending its shares higher.
  • Crude Oil investors are now betting on the potential of global slowdown.

Energy: Crude Oil prices fell early Thursday, extending losses in prior sessions, on signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown.

ICE Brent Crude Oil January (LCOc1) futures contract lost 44c, or 0.32%, to trade at $74.72 bbl by GMT 0054 GMT.

NYMEX WTI Crude Oil (CLc1) futures fell 46c to $65.01 bbl.

Both benchmarks posted their worst monthly performance since July 2016 Wednesday, with Brent Crude Oil falling 8.8% for the month and WTI Crude Oil falling 10.9%.

Thursday’s decliner came after US Energy Information Administration (EIA) data showed Crude Oil inventories climbed for a 6th week running. strong build in Crude Oil inventories is likely to keep downward pressure on Crude Oil prices we believe.

Note: OPEC boosted Crude Oil production in October to its highest since Y 2016, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to US sanctions, set to start on 4 November. US President Donald Trump said Wednesday that he had determined there was sufficient supply of petroleum and petroleum products from nations other than Iran to permit a reduction in purchases from that country. That memo is weighing on prices is growing concerns over the prospect of a global slowdown amid the ongoing US-China trade dispute.

Stocks: Asian stocks rose Thursday as, investor sentiment got some relief from another strong Wall Street session.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9%, adding to modest gains from the prior session.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
64.95 USD
-0.36
-0.55% Nov 18 2:21AM EDT CLc1
ICE Brent Crude »
74.60 USD
-0.44
-0.59% Nov 18 8:00PM EDT LCOc1
NYMEX RBOB Gasoline »
1.75 USD
-0.00
-0.26% Nov 18 2:21AM EDT RBc1
Dubai Crude Spot »
73.98 USD
+0.11
+0.15% Dec 02 2:32AM EDT DUB-1M
ICE Gas Oil »
699.75 USD
-9.50
-1.36% Nov 18 8:00PM EDT LGOc1
NYMEX No2 Heating Oil »
2.24 USD
-0.01
-0.35% Nov 18 2:21AM EDT HOc1
NYMEX Nat Gas »
3.27 USD
+0.01
+0.34% Nov 18 2:19AM EDT NGc1
ICE NBP Nat Gas »
68.18 GBP
+0.00
0.00% Nov 18 8:00PM EDT

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,220.01USD
+5.87
+0.48% Dec 02 8:00PM EDT XAU=X
COMEX 100oz Gold »
1,217.30USD
+5.00
+0.41% Nov 18 1:28AM EDT GCc1
Silver Spot »
14.35USD
+0.13
+0.91% Dec 02 8:00PM EDT XAG=X
Platinum Spot »
847.40USD
+11.40
+1.35% Dec 02 8:00PM EDT XPT=X
Palladium Spot »
1,086.00USD
+7.50
+0.69% Dec 02 8:00PM EDT XPD=X
COMEX Copper »
2.66USD
+0.00
0.00% Nov 18 7:01PM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
363.50USC
+0.25
+0.07% Dec 18 2:28AM EDT Cc1
CBOT Wheat »
503.25USC
+2.75
+0.55% Dec 18 2:31AM EDT Wc1
KCBT Wheat »
496.00USC
+2.75
+0.55% Dec 18 2:27AM EDT KWc1
MGE Spring Wheat »
571.25USC
+2.00
+0.35% Dec 18 2:19AM EDT 1MWEc1
Euronext Milling Wheat »
198.50EUR
+0.00
0.00% Dec 18 8:00PM EDT BL2c1
CBOT Soybeans »
835.25USC
-3.75
-0.45% Nov 18 2:24AM 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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