Gold Gains, USD Sags, Stocks Rise + Commodities

Gold Gains, USD Sags, Stocks Rise + Commodities

Gold Gains, USD Sags, Stocks Rise + Commodities

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

In Asia

Investors in commodity markets are looking ahead to the meeting of leaders of the G-20 nations, the world’s biggest economies, on 30 November – 1 December with the US-China, US-EU trade disputes at the Top of the agenda.

Gold: Gold prices firmed Thursday as USD flagged following dovish comments from Fed Chairman Jerome Powell, calming investor concerns over the pace of rate hikes. President Trump wants neutral minus rates and a lower USD.

  • Spot gold was up 0.4% at $1,225.34 oz at 0700 GMT
  • US gold futures were up 0.1% at $1,225.1 oz.

The dovish Fed stance was constructive from USD trade perspective and it could edge off USD, and continue to do so until the year’s end, which is quite significant for gold prices.

The dollar slipped from a two-week high on Wednesday after Powell said interest rates are just below neutral, raising expectations that the U.S. central bank is closer to the end of its rate hike cycle.

Energy: Crude Oil prices ticked higher Thursday on optimism that trade talks at the G-20 meeting could aid the global economy and improve the demand outlook, while an increase in US Crude inventories to their highest in a year curbed gains.

  • NYMEX WTI Crude Oil futures (CLc1) +38 c, or 0.8%, to $50.67 bbl at 0338 GMT
  • ICE Brent Crude Oil (LCOc1) +27c, or 0.5%, to $59.03 bbl

Both Crude Oil markets rose more than 1% in early Asian trade.

USD: The US and US Treasury yields fell after Fed Chairman Powell said Wednesday that US policy rates were “just below” Neutral, less than 2 months after saying rates were probably “a long way” from that point. President Trump wants rates below Neutral and an lower USD, he has the reins.

Stocks: Asian stocks rose Thursday, tracking gains on Wall Street, after the Chairman of the Fed suggested it may nearing an end to its 3-year rate tightening cycle, boosting interest in risk assets.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6%.

Commodities

Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
50.56 USD
+0.27
+0.53% Dec 18 2:35AM EST CLc1
ICE Brent Crude »
58.89 USD
+0.13
+0.22% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.40 USD
-0.00
-0.03% Nov 18 2:34AM EST RBc1
Dubai Crude Spot »
58.51 USD
+0.21
+0.36% Dec 02 2:46AM EST DUB-1M
ICE Gas Oil »
563.25 USD
-2.75
-0.49% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
1.84 USD
+0.01
+0.29% Nov 18 2:29AM EST HOc1
NYMEX Nat Gas »
4.56 USD
-0.14
-3.12% Dec 18 2:35AM EST NGc1
ICE NBP Nat Gas »
64.50 GBP
-0.26
-0.40% Nov 18 7:00PM EST

Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,226.30USD
+5.27
+0.43% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,226.30USD
+2.70
+0.22% Dec 18 2:46AM EST GCc1
Silver Spot »
14.36USD
+0.04
+0.28% Dec 02 7:00PM EST XAG=X
Platinum Spot »
829.40USD
+8.41
+1.01% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,173.56USD
-10.54
-0.90% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.79USD
-0.00
-0.18% Dec 18 2:46AM EST

Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
361.25USC
+0.75
+0.21% Dec 18 2:47AM EST Cc1
CBOT Wheat »
499.50USC
+2.00
+0.40% Dec 18 2:45AM EST Wc1
KCBT Wheat »
470.50USC
+3.50
+0.74% Dec 18 2:46AM EST KWc1
MGE Spring Wheat »
575.00USC
+1.50
+0.26% Dec 18 2:33AM EST 1MWEc1
Euronext Milling Wheat »
199.75EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybeans »
887.00USC
-3.50
-0.39% Jan 19 2:47AM EST Sc1
CBOT Soybean Oil »
27.64USC
-0.09
-0.33% Dec 18 2:48AM 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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