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

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

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

Headlines

  • Asia stocks advance as China’s rate adjustment improves investor mood
  • Crude Oil prices climb after Saudi oilfield attack
  • Gold prices dip on firmer USD and equities

Gold: Gold prices dipped Monday on a stronger USD, and a recovery in equities, as hints of more stimulus from major central banks around the world eased concerns about a recession.

  • Spot gold was down 0.4% at $1,507.11 oz at 0602 GMT,
  • US gold futures fell 0.5% to $1,515.70 oz.

Note: Spot gold has gained 19% so far since falling to the year’s low of $1,265.85 in May.

The USD is getting stronger, and given that gold had a very good rally over the last few weeks, we are just seeing some profit-taking now, the recovery in equities appears fragile and gold looks constructive

Energy: Crude oil prices rose Monday following a weekend attack on a Saudi production facility by Yemeni separatists and as traders looked for any signs that US-China trade tensions could ease.

  • ICE Brent Crude Oil LCOc1 was up 64c, or about 1.1%, at $59.28 bbl at 0255 GMT,
  • NYMEX WTI Crude Oil CLc1 was up 55c, or 1%, at $55.42 bbl.

Price gains were capped by an unusually downbeat OPEC report that stoked concerns about growth in petroleum demand.

Equities: Asian stocks rode a Wall Street rally Monday and were cheered by a decision from China’s PBoC to alter the way it sets a Key interest rate benchmark, a move seen by analysts as reducing borrowing costs for companies.

In early European trade, the futures for the pan-region Euro Stoxx 50 STXEc1 were up 0.3%, those for German’s DAX FDXc1 and Britain’s FTSE FFIc1 were each 0.5% higher.

In China, the Shanghai Composite Index .SSEC rose 1.6%. MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS gained 1.1%.

Currencies: JPY, a gauge of risk sentiment due to its perceived status as a safe-haven, weakened for its 3rd session running.

.DXY is hanging near a 2-week high of 98.339 climbed Friday. .DXY was supported as US Treasury yields bounced back from recent lows in the wake of German stimulus hopes.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,507.26USD-6.49-0.43%Dec 023:09AM EDT
COMEX 100oz Gold »1,506.00USD-6.50-0.43%Aug 199:11PM EDT
Silver Spot »17.03USD-0.05-0.29%Dec 022:59AM EDT
Platinum Spot »848.70USD+4.20+0.49%Dec 022:59AM EDT
Palladium Spot »1,452.50USD+4.50+0.31%Dec 022:59AM EDT
COMEX Copper »2.59USD+0.000.00%Aug 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.54USD+0.67+1.21%Aug 193:00AM EDT
ICE Brent Crude »59.44USD+0.80+1.35%Aug 193:00AM EDT
NYMEX RBOB Gasoline »1.67USD+0.02+1.06%Aug 193:00AM EDT
Dubai Crude Spot »58.51USD+0.80+1.37%Dec 023:10AM EDT
ICE Gas Oil »565.25USD+5.75+1.02%Sep 192:59AM EDT
NYMEX No2 Heating Oil »1.83USD+0.02+1.08%Aug 192:59AM EDT
NYMEX Nat Gas »2.19USD-0.01-0.55%Aug 192:58AM EDT
ICE NBP Nat Gas »30.48GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »365.75USC-5.25-1.44%Sep 192:53AM EDT
CBOT Wheat »467.50USC-3.25-0.70%Sep 192:59AM EDT
KCBT Wheat »392.25USC-2.00-0.51%Sep 192:53AM 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 »861.50USC-5.75-0.67%Sep 192:58AM EDT

Have a terrific week.

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