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

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

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

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

Notes: Investors are awaiting an expected meeting between Presidents Trump and Xi later this week for any signs of a de-escalation in a trade dispute. The 2 world leaders will meet on the sidelines of the G-20 Summit in Japan.

In Asia

Gold: Gold prices advanced Monday, hanging near 6-year highs tapped in Friday, as Dovish signals from major central banks and heightened tensions between the US and Iran boosted demand for the safe-haven metal.

  • Spot gold + 0.3% at $1,402.50 oz, as of 0336 GMT, heading for a 5th session running of gainers, Gold prices hit $1,410.78 Friday, their highest since 4 September 2013,
  • US gold futures rose 0.6% to $1,409.10 oz.

Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), rose 4.57% Friday in their biggest 1-day percentage gainer since September 2008.

President Trump said Sunday he is not seeking war with Tehran, but tensions remain high between the longtime foes with Washington due to announce major new sanctions on Iran later Monday.

Energy: Crude Oil prices climbed Monday as tensions remain high between Iran and the United States, with Secretary of State Mike Pompeo saying new sanctions on Tehran would be announced Monday, further choking off resources that Tehran uses to fund its activities in the region.

  • ICE Brent futures were up 25c, or 0.4%, at $65.45 bbl by 0325 GMT,
  • NYMEX WTI Crude was up 37c, or 0.6%, at $57.80 bbl.

Last week, US energy companies increased the number of Oil rigs operating for the 1st time in 3 weeks. 

Equities: Asian shares up Monday as investors hope for signs of a thaw in US-China trade negotiations, while Crude Oil prices firmed on heightened tensions between the United States and Iran.

MSCI’s broadest index of Asia-Pacific shares sansJapan rose 0.2%, hanging not far from Thursday’s 6-week highs, while Japan’s Nikkei average was up 0.3%.

Chinese shares flat to little changed, with the benchmark Shanghai Composite + 0.1% and the blue-chip CSI 300 flat, while Hong Kong’s Hang Seng added 0.1%.

Currencies: EUR rose to a 3-month high at $1.1379 in early Monday trade.

USD fetched 107.33 JPY, having slipped to as low as 107.045 Friday, the lowest mark since its flash crash on 3 January 2019.

The Turkish lira strengthened about 0.75% to 5.767 after Turkey’s main opposition claimed a decisive victory on Sunday in Istanbul’s re-run election, dealing one of the biggest blows to President Tayyip Erdogan.

Bitcoin (BTC) jumped overnight to $11,247.62, its highest mark since March 2018. It was last quoted at $10,626.56.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »57.81 USD+0.38+0.66%Jul 191:09AM EDT
ICE Brent Crude »65.47 USD+0.27+0.41%Jun 191:07AM EDT
NYMEX RBOB Gasoline »1.88 USD+0.03+1.51%Jun 1912:37AM EDT
Dubai Crude Spot »63.67 USD+0.38+0.60%Dec 021:17AM EDT
ICE Gas Oil »590.25 USD+3.25+0.55%Jul 191:00AM EDT
NYMEX No2 Heating Oil »1.93 USD+0.01+0.61%Jun 1912:50AM EDT
NYMEX Nat Gas »2.21 USD+0.03+1.13%Jun 191:08AM EDT
ICE NBP Nat Gas »27.15 GBP+0.000.00%Jun 1911:59AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,402.14USD+3.49+0.25%Dec 021:19AM EDT
COMEX 100oz Gold »1,402.20USD+6.00+0.43%Jun 1912:24AM EDT
Silver Spot »15.33USD-0.02-0.16%Dec 021:19AM EDT
Platinum Spot »811.22USD+5.72+0.71%Dec 021:19AM EDT
Palladium Spot »1,515.10USD+15.10+1.00%Dec 021:19AM EDT
COMEX Copper »2.71USD+0.000.00%Jun 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »444.75USC+2.50+0.56%Jul 191:10AM EDT
CBOT Wheat »524.50USC-1.50-0.29%Jul 191:05AM EDT
KCBT Wheat »452.50USC+0.000.00%Jul 1912:32AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »180.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »907.75USC+5.00+0.55%Jul 191:10AM EDT

Have a terrific week.

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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.

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