Gold Up, USD Down, Stocks Off + Commodities

Gold Up, USD Down, Stocks Off + Commodities

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

In Asia

Gold: Gold prices are us Wednesday as the USD retreated from a 16-month high touched earlier in the week, easing amid a surge in EUR and GBP on a draft BREXIT agreement.

  • Spot gold rose 0.2% to $1,203.88 oz at 0351 GMT.
  • US gold futures were up 0.2% at $1,203.2 oz.

There has been some stalling in USD  the rise has eased helping gold to pick up. A weaker Buck makes USD-denominated gold cheaper for holders of other currencies.

We are seeing investors and speculators buying up gold because gold has the potential to go up to $1,230 to $1,240 an oz from here.

Energy: Crude Oil traders’ worries over record supplies arriving in Asia just as the outlook for its Key growth economies weakens have pulled down global Crude Oil benchmarks by 25% since early October.

NYMEX WTI Crude Oil futures dove 7% the Tuesday, suffering their biggest 1-day loss in more than 3 years. The contracts last stood at $55.30 bbl (CLc1) for a loss of 0.7%, following a fall to a 1-year low at 54.75 overnight.

ICE Brent Crude Oil (LCOc1) was down 0.35% at $65.24 bbl after diving 6.8% Tuesday and set an 8-month low of $64.61.

Brent Crude Oil had soared to a 4-year high at $86.74 early in October as the market braced for US sanctions on Iran, but prices have sunk about 25% since then, Crude Oil is in Bear market territory.

USD: The US Dollar (.DXY) Indexm which measures the Buck against a basket of 6 peer currencies, was down about 0.2%, pulling back from a 16-month high.

Stocks: Concerns about global growth pushed MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) down.

Hong Kong’s Hang Seng (HSI) dropped 0.55% and the Shanghai Composite Index (SSEC) retreated 0.9%.

Australian stocks (AXJO) fell 1.75%, South Korea’s KOSPI (KS11) lost 0.3% and Japan’s Nikkei (N225) rose 0.16%

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
55.22 USD
-0.47
-0.85% Nov 18 1:14AM EST CLc1
ICE Brent Crude »
65.09 USD
-0.38
-0.58% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.53 USD
-0.01
-0.78% Nov 18 1:13AM EST RBc1
Dubai Crude Spot »
63.86 USD
-0.30
-0.47% Dec 02 1:25AM EST DUB-1M
ICE Gas Oil »
627.50 USD
-11.50
-1.83% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
2.06 USD
-0.01
-0.30% Nov 18 1:13AM EST HOc1
NYMEX Nat Gas »
4.06 USD
-0.04
-0.96% Nov 18 1:14AM EST NGc1
ICE NBP Nat Gas »
72.72 GBP
+0.00
0.00% Nov 18 7:00PM EST

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,203.21USD
+1.25
+0.10% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,199.20USD
+0.00
0.00% Nov 18 7:01PM EST GCc1
Silver Spot »
14.03USD
+0.05
+0.36% Dec 02 7:00PM EST XAG=X
Platinum Spot »
834.99USD
+0.25
+0.03% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,106.50USD
-3.74
-0.34% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.69USD
+0.00
0.00% Nov 18 7:01PM EST

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
367.25USC
+0.75
+0.20% Dec 18 1:50AM EST Cc1
CBOT Wheat »
506.75USC
-1.00
-0.20% Dec 18 1:50AM EST Wc1
KCBT Wheat »
487.50USC
+1.00
+0.21% Dec 18 1:46AM EST KWc1
MGE Spring Wheat »
579.25USC
+1.00
+0.17% Dec 18 1:46AM EST 1MWEc1
Euronext Milling Wheat »
201.75EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybeans »
869.75USC
+2.50
+0.29% Nov 18 1:37AM EST

 

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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