$XAU, $GLD, $USD, $USO, $OIL
FLASH: Gold Off, USD Up, Crude Oil Up, Stocks Firm
- Crude Oil prices recover after output from US, Russia, OPEC fall
- Asian shares firm as investors stay hopeful on US-China disputes
- Gold fell to a 2 month low on the back of a strong Buck, last trading at $1,468.50 oz.
Gold: Gold fell to a 2-month low on the back of a strong USD, last trading at $1,468.50 oz.
Energy: Crude Oil prices bounced Tuesday on reports that production at the world’s largest producers fell during Q-3, although a resumption in Saudi supply and demand concerns continued to cap prices.
- Dec Brent Crude Oil futures +25c, or 0.42% at $59.50 bbl by 0657 GMT,
- Nov WTI Crude Oil also + 25c, or 0.46%, at $54.32 a bbl.
Front-month prices for both contracts posted their largest Quarterly falls this year Monday, hurt by a slowdown in global economic growth amid the US-China trade dispute.
Equities: Asian share prices up Tuesday as some investors clung to hopes that Q-4 will bring progress in resolving the United-States trade dispute that has cast a pall over the global economy.
MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS inched up 0.23%, while Japan’s Nikkei .N225 rose 0.6% and Australia’s benchmark by 0.8%, some of that coming after the central bank cut rates for a 3rd time this year.
Starting on Tuesday, Chinese markets are shut for a week to mark 70 years since the founding of the People’s Republic of China. Markets will be quiet.
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