Gold Lower, USD Steady, Stocks Subdued + Commodities

Gold Lower, USD Steady, Stocks Subdued + Commodities

Gold Lower, USD Steady, Stocks Subdued + Commodities

  • $GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT
  • Gold Prices Lower
  • US Dollar Steady
  • Crude Oil Up
  • Asian Stocks Subdued

In Asia

Gold: Gold prices were flat Wednesday pressured by a robust USD after 1 senior Fed official reaffirmed the need for a further increase in interest rates while another made a case for no more interest rate hikes through Y 2019, making gold coins and bars more expensive for holders of other currencies.

  • Spot gold was flat to little changed at $1,213.71 oz at 0408 GMT
  • US gold futures were down about 0.1% at $1,214.00 oz.

After holding around $1,220 oz over the past week, gold prices finally capitulated as investor appetite weakened, as rising trade tensions saw investors seeking a safe haven in the USD, and weighing on the precious metals complex.

Among other precious metals

  • Spot silver inched up 0.1% to $14.15 oz
  • Platinum was up 0.2% at $831.50 oz.
  • Palladium rose 0.1% to $1,152.00 oz

Energy: Crude Oil prices rose by more than 1% Wednesday ahead of an OPEC meeting next week at which the cartel is expected to decide some form of supply cut to counter an emerging glut. The world is awash with Crude Oil.

  • NYMEX WTI Crude Oil futures (CLc1) were at $52.24 bbll at 0607 GMT, +68c, or 1.3% from their last settlement.
  • ICE Brent Crude Oil futures (LCOc1) were +78c, or 1.3%, at $60.99 bbl.

The shutdown of Britain’s largest North Sea oilfield for repairs supported prices.

USD: The US Dollar (.DXY) Index, a gauge of the Buck’s value Vs 6 peers, held steady at 97.37, sitting just below this year’s high at 97.69

Stocks: Asia Stocks-Subdued as Trump-Xi G-20 meeting awaited by traders.

The markets at 4:33 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3089.98 3090.4 -0.01

Bangkok 1639.86 1634.27 0.34

Manila 7396.45 7413.63 -0.23

Jakarta 6004.839 6013.589 -0.15

Kuala Lumpur 1685.92 1684.97 0.06

Ho Chi Minh 923.43 923.12 0.03

Commodities

Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
52.36 USD
+0.80
+1.53% Dec 18 1:52AM EST CLc1
ICE Brent Crude »
61.17 USD
+0.96
+1.57% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.45 USD
+0.03
+1.84% Nov 18 1:41AM EST RBc1
Dubai Crude Spot »
60.06 USD
+0.44
+0.73% Dec 02 2:04AM EST DUB-1M
ICE Gas Oil »
585.00 USD
+6.50
+1.11% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
1.90 USD
+0.02
+0.96% Nov 18 1:50AM EST HOc1
NYMEX Nat Gas »
4.24 USD
-0.03
-0.61% Nov 18 1:05AM EST NGc1
ICE NBP Nat Gas »
68.14 GBP
+0.00
0.00% Nov 18 7:00PM EST

Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,213.45USD
-0.86
-0.07% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,211.20USD
+0.00
0.00% Nov 18 10:49PM EST GCc1
Silver Spot »
14.17USD
+0.03
+0.22% Dec 02 7:00PM EST XAG=X
Platinum Spot »
828.50USD
-1.49
-0.18% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,151.10USD
+0.60
+0.05% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.71USD
+0.00
0.00% Nov 18 9:55AM EST

Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
356.75USC
+0.25
+0.07% Dec 18 2:00AM EST Cc1
CBOT Wheat »
496.75USC
-1.25
-0.25% Dec 18 1:39AM EST Wc1
KCBT Wheat »
459.00USC
+0.50
+0.11% Dec 18 1:39AM EST KWc1
MGE Spring Wheat »
575.00USC
-0.50
-0.09% Dec 18 1:57AM EST 1MWEc1
Euronext Milling Wheat »
198.75EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybeans »
876.00USC
+0.50
+0.06% Jan 19 2:01AM 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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