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

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

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

FLASH: Gold Up, USD Off, Crude Oil Steady, Stocks Higher

Headlines

  • US-China trade dispute remains in focus
  • Crude Oil prices steady
  • Spot gold may test psyche resistance at $1,500 oz
  • Calm returns to stock markets as RMB Yuan steadies

Gold: Gold prices +1% Wednesday as investors to seek refuge in safe-haven assets.

  • Spot gold was up 0.7% to $1,484.49 oz, as of 0512 GMT,
  • US Dec gold futures up 0.9% at $1,496.80 oz.

Spot gold, near-term, a daily close above major resistance at $1,492.31 oz would then open the path to $1,513.94 and $1,540.70 oz.

Holdings of SPDR Gold Trust, the world’s largest gold-backed ETF, rose 0.21% to 836.92 tonnes Tuesday from Monday.

Energy: Crude Oil prices steady Wednesday after falling at the start of the session, with the potential for damage to the global economy and fuel demand from the intensifying US-China trade dispute continuing to cast a shadow on the market.

  • ICE Brent Crude Oil futures were at $58.97 a barrel by 0221 GMT, up 3c, or 0.05%, from their previous settlement, trading near 7-month lows,
  • NYMEX Crude Oil futures were down 8c, or 0.15%, from their last close to $53.56 bbl.

Crude Oil prices remained under pressure as investors grappled with the impact of the trade conflict, data indicating a larger-than-expected drop in US Crude Oil stocks offered some support to prices.

Equities: Asian shares steady Wednesday as investors saw steps taken by the PBoC to contain falling RMB Yuan helping calm market fears

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.05% in early Japan’s Nikkei bucked the trend, slipped 0.26%.

On Wall Street Tuesday, the S&P 500 gained 1.30% and MSCI’s broad gauge of stocks across the world rose 0.50%, its 1st gain in 7 sessions

Currencies: In early Asian trade Wednesday, the offshore Yuan was flat at 7.0533 RMB, off Tuesday’s low of 7.1400, its weakest mark since international trading in the Chinese currency began in Y 2010.

USD was traded at 106.33 JPY , down 0.13% from late US marks, but off Tuesday’s 7-month low of 105.52.

EUR flat at $1.1203. The AUD fetched $0.67605, just off its 7-month low of $0.6748 touched Monday.

New Zealand dollar was little changed at $0.6527 . The Reserve Bank of New Zealand is widely expected to cut interest rates for the second time this year, by 25 basis points to all-time low of 1.25 percent on Wednesday, to counter pressure on the economy from global trade disputes.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,487.98USD+14.11+0.95%Dec 022:30AM EDT
COMEX 100oz Gold »1,486.40USD+14.00+0.94%Aug 192:21AM EDT
Silver Spot »16.72USD+0.27+1.62%Dec 022:30AM EDT
Platinum Spot »852.93USD+5.43+0.64%Dec 022:30AM EDT
Palladium Spot »1,437.22USD+0.22+0.02%Dec 022:30AM EDT
COMEX Copper »2.56USD+0.01+0.35%Aug 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.54USD-0.09-0.17%Aug 192:28AM EDT
ICE Brent Crude »58.80USD-0.14-0.24%Aug 192:28AM EDT
NYMEX RBOB Gasoline »1.68USD-0.01-0.60%Aug 192:28AM EDT
Dubai Crude Spot »57.51USD+0.21+0.37%Dec 022:38AM EDT
ICE Gas Oil »554.25USD-5.00-0.90%Aug 192:24AM EDT
NYMEX No2 Heating Oil »1.82USD-0.00-0.26%Aug 192:27AM EDT
NYMEX Nat Gas »2.09USD-0.02-1.00%Aug 192:28AM EDT
ICE NBP Nat Gas »30.33GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »405.50USC+1.50+0.37%Sep 192:26AM EDT
CBOT Wheat »486.50USC+2.50+0.51%Sep 192:28AM EDT
KCBT Wheat »418.75USC+0.75+0.18%Sep 1912:46AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »170.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»848.25USC+0.50+0.06%Aug 198:00PM EDT

Stay tuned…

The following two tabs change content below.

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)

You must be logged in to post comments :  
CONNECT WITH