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

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

FLASH: Gold Up, USD Up, Crude Oil Up, Stocks Up

Headlines

  • Crude Oil rises as US retail sales ease recession fears
  • Asia stocks up in stimulus speculation
  • Gold heads for 3rd weekly gainer on trade, growth concerns
  • Dollar index higher

Gold: Gold prices dipped Friday but were headed for a 3rd consecutive weekly gainer, as fears over a global economic slowdown and a lack of clarity on the US-China trade dispute boosted the precious Yellow metal’s safe-haven appeal.

  • Spot gold was down 0.3% at $1,518.60 per ounce as of 0537 GMT, but is up nearly 1.5% so far this week after rising in the prior weeks,
  • US gold futures inched down 0.1% to $1,529.10 oz

Gold is consolidating here. The important consideration is that none of the headwinds have gone away; the tariffs got delayed a bit, but the underlying trade dispute remains and lower yields are supportive gold.

Energy: Crude Oil prices rose Friday following 2 days of decliners, buoyed after data showing an increase in retail sales in the US helped dampen concerns about a recession in the world’s biggest economy.

  • ICE Brent crude LCOc1 was up 52c, or 0.9%, at $58.75 bbl at 0352 GMT,
  • NYMEX WTI Crude Oil CLc1 was up 65c or 1.2%, at $55.12 bbl.

The price of Brent is up nearly 10% YTD thanks to supply cuts led by OPEC+ and allies. In July, OPEC+ agreed to extend output cuts until March 2020 to prop up prices

Equities:  Asian shares found footing Friday after a volatile week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks.

A bounce in US and European stock futures also helped, with E-Minis for the S&P 500 up 0.55% and the EUROSTOXX 50 rising 0.5%.

MSCI’s broadest index of Asia-Pacific shares sans Japan responded by edging up 0.2%, though it was still down 1% on the week.

Japan’s Nikkei recouped early losses adding 0.09%, while Shanghai blue chips rose 0.7%.

Currencies: Vs a basket of 6 peer currencies, .DXY, edged higher. Since hitting a 3-week low on 9 August index has recovered, rising 1.1%.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.23 USD+0.76+1.38%Aug 192:08AM EDT
ICE Brent Crude »58.93 USD+0.70+1.19%Aug 192:08AM EDT
NYMEX RBOB Gasoline »1.65 USD+0.02+1.04%Aug 192:06AM EDT
Dubai Crude Spot »57.81 USD+0.33+0.57%Dec 022:18AM EDT
ICE Gas Oil »562.75 USD+2.75+0.49%Sep 192:06AM EDT
NYMEX No2 Heating Oil »1.83 USD+0.01+0.79%Aug 192:08AM EDT
NYMEX Nat Gas »2.21 USD-0.02-0.90%Aug 192:08AM EDT
ICE NBP Nat Gas »31.37 GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,517.20USD-5.76-0.38%Dec 022:18AM EDT
COMEX 100oz Gold »1,518.20USD-1.40-0.09%Aug 191:36AM EDT
Silver Spot »17.18USD-0.09-0.49%Dec 022:18AM EDT
Platinum Spot »834.91USD-3.59-0.43%Dec 022:18AM EDT
Palladium Spot »1,448.24USD+3.74+0.26%Dec 022:18AM EDT
COMEX Copper »2.59USD-0.00-0.04%Aug 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »362.00USC+1.25+0.35%Sep 192:08AM EDT
CBOT Wheat »469.50USC+0.50+0.11%Sep 192:13AM EDT
KCBT Wheat »390.50USC+0.75+0.19%Sep 191:47AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »168.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»862.00USC+4.00+0.46%Sep 192:04AM EDT

Have a terrific weekend

#agriculture#Asia#China#Corn#Crude Oil#energy#Fed#GLD#Gold#grains#oil#SLV#SOY