Gold Steady, USD Down, Stocks Up + Commodities

Gold Steady, USD Down, Stocks Up + Commodities

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

In Asia

Gold: Gold prices held steady Thursday, after rising nearly 1% in the prion session, as USD slipped further from a 16-month peak hit earlier in the week.

  • Spot gold was little changed at $1,211.12 oz at 0453 GMT.
  • US gold futures inched up 0.1% at $1,211.7 oz.

We see a bid to gold provided USD continues to fall.

Other precious metals

  • Silver was up 0.1% at $14.14 oz.
  • Platinum dipped 0.6% to $829.75 oz
  • Palladium fell 0.1% to $1,123.24 oz.

Energy:  The US Crude Oil market is scrambling to adjust to a deep selloff over the last several weeks, with forward prices signaling a supply glut which could upend plans for producers and traders through Y 2019.

Many traders saw $100 bbl Crude Oil on the horizon just a month ago, but Crude Oil is now closer to $50 bbl. US production is expected to surpass the 12-M BPD milestone by mid-2019, according to US Energy Information Administration  (EIA) forecast

NYMEX WTI Crude Oil futures (CLc1) dove 7% Tuesday, to settle at $55.69, their lowest mark this year, down from a 4-year high a month ago. Tuesday marked a 12th session running of decliners, which is the longest losing streak on record, shaking a market that was bracing for supply shortfalls.

USD: The US Dollar (.DXY) measures the Buck against a basket of 6 peer currencies traded at 96.84, off a 16-month high marked Monday.

We could see further slide in USD because we did not get any follow through on the Bullish US CPI effect.

Stocks: MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) was up 0.7%

Shanghai Composite Index (SSEC) gained 0.9%, while Hong Kong’s Hang Seng (HSI) rose 0.8%.

Traders and investors welcomed news that Washington and Beijing have resumed informal discussions ahead of a meeting between Presidents Donald Trump and Xi Jinping late this month.

Few market watchers expect a trade agreement at that meeting, but hopes are growing that they may agree on a de-escalation while the 2 sides pursue more detailed talks.

Elsewhere, Australian stocks (AXJO) + 0.05% and Japan’s Nikkei (N225) shed 0.2%.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
56.11 USD
-0.14
-0.25% Nov 18 1:17AM EST CLc1
ICE Brent Crude »
66.09 USD
-0.03
-0.05% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.55 USD
-0.01
-0.76% Nov 18 1:16AM EST RBc1
Dubai Crude Spot »
64.80 USD
+0.33
+0.51% Dec 02 1:27AM EST DUB-1M
ICE Gas Oil »
640.25 USD
-4.25
-0.66% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
2.10 USD
+0.00
+0.03% Nov 18 1:15AM EST HOc1
NYMEX Nat Gas »
4.72 USD
-0.12
-2.46% Nov 18 1:16AM EST NGc1
ICE NBP Nat Gas »
72.16 GBP
+0.00
0.00% Nov 18 7:00PM EST

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,212.99USD
+2.15
+0.18% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,207.90USD
+0.00
0.00% Nov 18 7:01PM EST GCc1
Silver Spot »
14.18USD
+0.05
+0.34% Dec 02 7:00PM EST XAG=X
Platinum Spot »
836.40USD
+1.80
+0.22% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,126.50USD
+2.28
+0.20% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.71USD
+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
+0.25
+0.07% Dec 18 1:22AM EST Cc1
CBOT Wheat »
506.50USC
+3.50
+0.69% Dec 18 1:23AM EST Wc1
KCBT Wheat »
482.75USC
+1.75
+0.36% Dec 18 12:14AM EST KWc1
MGE Spring Wheat »
579.75USC
+3.75
+0.65% Dec 18 1:12AM EST 1MWEc1
Euronext Milling Wheat »
201.00EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybeans »
888.25USC
+4.75
+0.53% Jan 19 1:23AM EST

Stay tuned

 

 

 

The following two tabs change content below.

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.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :  
CONNECT WITH