Asia: Gold, USD, Crude Oil, Stocks & Commodities

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

FLASH: Gold Up, USD Off, Crude Oil Steady, Stocks Higher

Headlines

  • US-China trade dispute remains in focus
  • Crude Oil prices steady
  • Spot gold may test psyche resistance at $1,500 oz
  • Calm returns to stock markets as RMB Yuan steadies

Gold: Gold prices +1% Wednesday as investors to seek refuge in safe-haven assets.

  • Spot gold was up 0.7% to $1,484.49 oz, as of 0512 GMT,
  • US Dec gold futures up 0.9% at $1,496.80 oz.

Spot gold, near-term, a daily close above major resistance at $1,492.31 oz would then open the path to $1,513.94 and $1,540.70 oz.

Holdings of SPDR Gold Trust, the world’s largest gold-backed ETF, rose 0.21% to 836.92 tonnes Tuesday from Monday.

Energy: Crude Oil prices steady Wednesday after falling at the start of the session, with the potential for damage to the global economy and fuel demand from the intensifying US-China trade dispute continuing to cast a shadow on the market.

  • ICE Brent Crude Oil futures were at $58.97 a barrel by 0221 GMT, up 3c, or 0.05%, from their previous settlement, trading near 7-month lows,
  • NYMEX Crude Oil futures were down 8c, or 0.15%, from their last close to $53.56 bbl.

Crude Oil prices remained under pressure as investors grappled with the impact of the trade conflict, data indicating a larger-than-expected drop in US Crude Oil stocks offered some support to prices.

Equities: Asian shares steady Wednesday as investors saw steps taken by the PBoC to contain falling RMB Yuan helping calm market fears

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.05% in early Japan’s Nikkei bucked the trend, slipped 0.26%.

On Wall Street Tuesday, the S&P 500 gained 1.30% and MSCI’s broad gauge of stocks across the world rose 0.50%, its 1st gain in 7 sessions

Currencies: In early Asian trade Wednesday, the offshore Yuan was flat at 7.0533 RMB, off Tuesday’s low of 7.1400, its weakest mark since international trading in the Chinese currency began in Y 2010.

USD was traded at 106.33 JPY , down 0.13% from late US marks, but off Tuesday’s 7-month low of 105.52.

EUR flat at $1.1203. The AUD fetched $0.67605, just off its 7-month low of $0.6748 touched Monday.

New Zealand dollar was little changed at $0.6527 . The Reserve Bank of New Zealand is widely expected to cut interest rates for the second time this year, by 25 basis points to all-time low of 1.25 percent on Wednesday, to counter pressure on the economy from global trade disputes.

Commodities (quotes): Metals, Energy, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,487.98USD+14.11+0.95%Dec 022:30AM EDT
COMEX 100oz Gold »1,486.40USD+14.00+0.94%Aug 192:21AM EDT
Silver Spot »16.72USD+0.27+1.62%Dec 022:30AM EDT
Platinum Spot »852.93USD+5.43+0.64%Dec 022:30AM EDT
Palladium Spot »1,437.22USD+0.22+0.02%Dec 022:30AM EDT
COMEX Copper »2.56USD+0.01+0.35%Aug 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.54USD-0.09-0.17%Aug 192:28AM EDT
ICE Brent Crude »58.80USD-0.14-0.24%Aug 192:28AM EDT
NYMEX RBOB Gasoline »1.68USD-0.01-0.60%Aug 192:28AM EDT
Dubai Crude Spot »57.51USD+0.21+0.37%Dec 022:38AM EDT
ICE Gas Oil »554.25USD-5.00-0.90%Aug 192:24AM EDT
NYMEX No2 Heating Oil »1.82USD-0.00-0.26%Aug 192:27AM EDT
NYMEX Nat Gas »2.09USD-0.02-1.00%Aug 192:28AM EDT
ICE NBP Nat Gas »30.33GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »405.50USC+1.50+0.37%Sep 192:26AM EDT
CBOT Wheat »486.50USC+2.50+0.51%Sep 192:28AM EDT
KCBT Wheat »418.75USC+0.75+0.18%Sep 1912:46AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »170.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»848.25USC+0.50+0.06%Aug 198:00PM EDT

Stay tuned…

#agriculture#Asia#China#Corn#Crude Oil#energy#Fed#GLD#Gold#grains#oil#SLV#SOY#stocks#trade#USD#USO