FLASH: Gold Steady, USD Firm, Crude Oil Off, Stocks Steady to Up

Headlines

• USD holds firm, -0.03% to 98.288.
• Crude Oil jitters ease
• Gold prices steady in cautious mood
• China stocks rise ahead of expected Fed rate cut

Gold:  Gold prices were little changed Wednesday as investors maintained a cautious stance ahead of the conclusion of FOMC 2-day meeting, where policymakers are expected to cut interest rates.

•  Spot gold steady at $1,501.91 oz, as of 0100 GMT,
• US gold futures down 0.3% to $1,508.8 oz.

A fresh gold discovery by Barrick Gold Corp (NYSE:GOLD) in Nevada is “fantastically significant” and shows there still is rich potential in the region for exploration, CEO Mark Bristow said in an interview Tuesday.

Energy: Crude Oil prices lower in Asia, extending a 6% fall Tuesday after Saudi Arabia’s energy minister said The Kingdom has tapped inventories to restore supplies to where they stood before drone attacks a the weekend shut around 5% of global petroleum output

Equities: China stocks up Wednesday on expectations of lower borrowing costs at home and the US, with improving trade relations between Beijing and Washington aiding risk appetite. Hong Kong shares were little changed.

China’s blue-chip CSI300 Index gained 0.6% to 3,913.85 pts, while the Shanghai Composite Index rose 0.4% to 2,989.75 pts.

In Hong Kong, the benchmark Hang Seng Index was flat at 26,797.53 pts. The Hang Seng China Enterprises Index , which tracks Mainland companies listed in Hong Kong, +0.1%.

Commodities & Currency Pairs (quotes)

Stay tuned…

  agriculture, Asia, China, Corn, Crude Oil, currencies, energy, Fed, Gold

The following two tabs change content below.

• Bio
• Latest Posts

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.

Latest posts by Paul Ebeling (see all)

• The 5 Safest Cities in the World - October 13, 2019
• Box Office: ‘Joker’ Laughs with another $55-M in North America - October 13, 2019
• US Q-3 Earnings, Here They Come - October 13, 2019