Gold Up, USD Down, Stocks Down + Commodities

Gold Up, USD Down, Stocks Down + Commodities

Gold Up, USD Down, Stocks Down + Commodities


  • Gold Prices Up
  • USD Down
  • Crude Oil Fell
  • Asian Stocks Down

In Asia

Gold: Gold is higher Thursday as growing risk aversion weighed on USD

  • Spot gold up 0.2% at $1,239.86 oz as of 0429 GMT
  • US gold futures up 0.2% at $1,244.9 oz.

Note: Technicals; Spot gold may test resistance at $1,245 oz

Markets are trying to consolidate, to push gold up higher in here.

Energy: US stock investors are concerned that a 30% dive in Crude Oil prices will pressure corporate profits while also presenting a sign of weakness in global growth at a time they are worried the long economic expansion will end sooner rather than later. Thought not likely.

Crude Oil investors are focused on Thursday’s OPEC meeting in Vienna, and allied producing countries including Russia. A monitoring committee of OPEC and its allies agreed on the need to cut Crude Oil output in Y 2019, though President Trump has warned against any production cuts by the cartel

Lowering Crude Oil prices holds economic benefits, including lower costs for airlines and transport companies plus cheaper fuel prices for consumers. But some investors see the Bear market in Crude Oil biting into profits for energy producers and related companies (SPNY) that are part of Wall Street’s benchmark S&P 500

I have been following Crude Oil for 40 odd years and see prices in the $50-60 zone, as good marks for the market, because producers are making enough money and helping consumers with low prices at the pump, that is except in tax overburdened California.

  • NYMEX WTI Crude Oil futures were at $52.66 bbl at 0140 GMT, -23c, or 0.4%, from their prior close in NY
  • ICE Brent Crude Oil futures were down 7c, or 0.1%, at $61.49 bbl.

USD: The USD fell 0.4% Vs the JPY to 112.78 on a risk-averse mood, while the AUD shed 0.6^ to $0.7227.

The RMB Yuan eased 0.2% to 6.8770 per USD in offshore trade while EUR traded flat at $1.1345.

The GBP dipped 0.1% to $1.2725

Stocks: Japan’s Nikkei slumped 1.8% by the midday break, with semi-conductor related shares leading the losses.

MSCI’s ex-Japan Asia-Pacific index fell 1.7%. Hong Kong’s Hang Seng dropped 2.7% while Shanghai shares dipped 1.2%.



MCX Crude Oil »
-1.98% Dec 18 10:59AM IST


MCX Gold »
0.00% Feb 19 11:54PM IST
MCX Silver »
0.00% Mar 19 11:54PM IST
MCX Copper »
0.00% Feb 19 11:54PM IST

Agriculture Grains

Market was closed on Wednesday, reopens on Thursday morning in Chicago

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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