$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD
FLASH: Gold Up, USD Flat, Crude Oil Off, Stocks Off
Headlines
- JPY holds gains, traders seek safety
- Crude Oil prices steady after big fall on recession concerns, inventory rise
- Stocks feel pain, as bond markets talk recession
- Gold gains as recession fears drive safe-haven demand
Gold: Gold prices rose Thursday, as investors flocked to safer havens after an inverted US bond yield curve pointed to new recession fears following poor economic data from Germany and China.
- Spot gold was up 0.2% at $1,519.51 oz as of 0522 GMT,
- US gold futures gained 0.2% to $1,530.50 oz.
We are seeing flight to safety, market confidence is shaky, the economy is showing signs of weakness and it’s starting to slow in 2-H of this year.
A successful breakout at $1,525 oz will see gold Bulls make an attempt on previous highs at $1,535.
Energy: Crude Oil prices steadied Thursday, following sharp overnight losses as US inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed.
- ICE Brent Crude LCOc1 was down 13c, or 0.2%, at $59.35 bbl by 0643 GMT,
- NYMEX WTI Crude Oil CLc1 was up 5c or 0.1%, at $55.28 bbl.
Crude Oil prices, though supported by OPEC-led production curbs face severe headwinds as traders swing between demand-side worries and supply curtailment policies
Equities: Asian stocks extended a punishing sell-off Thursday as investors feared an historic drop in long-term US T-Bond yields might augur a recession globally.
MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS dropped 0.7% and tapped a 7-month low.
Japan’s Nikkei average .N225 was off 1.3%, while China’s benchmark Shanghai Composite .SSEC lost 0.4% and Hong Kong’s Hang Seng .HSI wa flat on the day.
The major US stock indexes fell about 3% Wednesday, with the blue-chip DJIA posting its biggest 1-day point fall since October 2018.
Currencies: JPY held gains against major currencies Thursday as sliding US Treasury yields fanned fears of a global economic downturn and drove investors into safe-haven assets.
USD was little changed at 105.90 JPY in Asian trading Thursday. On Wednesday, the JPY rallied 0.8% versus the Buck, its biggest daily gainer in 2 weeks.
.DXY, stood at 97.914 after a 0.2% gainer Wednesday.
The Swiss franc CHF=EBS last traded at 0.9735, holding on to a 0.3% gainer posted Wednesday.
GBP was little changed at $1.2069. The GBP has been in a tight trading range recently due to lingering uncertainties about whether Britain will exit the EU without transitional trading agreements.
The Aussie AUD=D3 rose 0.5% to $0.6786 after data showed the Australian economy added a forecast-busting 41,100 new jobs in July.
Commodities (quotes): Metals, Energy, and Agriculture Grains
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
Gold Spot » | 1,512.70USD | -3.38 | -0.22% | Dec 02 | 3:09AM EDT |
COMEX 100oz Gold » | 1,519.80USD | +3.90 | +0.26% | Aug 19 | 12:02AM EDT |
Silver Spot » | 17.16USD | -0.04 | -0.24% | Dec 02 | 3:09AM EDT |
Platinum Spot » | 843.77USD | +3.27 | +0.39% | Dec 02 | 3:09AM EDT |
Palladium Spot » | 1,435.59USD | +11.59 | +0.81% | Dec 02 | 3:09AM EDT |
COMEX Copper » | 2.59USD | +0.00 | 0.00% | Aug 19 | 4:40PM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
NYMEX Crude Oil » | 55.23USD | +0.00 | 0.00% | Aug 19 | 3:06AM EDT |
ICE Brent Crude » | 59.32USD | -0.16 | -0.27% | Aug 19 | 3:05AM EDT |
NYMEX RBOB Gasoline » | 1.67USD | -0.00 | -0.29% | Aug 19 | 3:06AM EDT |
Dubai Crude Spot » | 58.19USD | +0.28 | +0.48% | Dec 02 | 3:16AM EDT |
ICE Gas Oil » | 568.00USD | +7.00 | +1.23% | Sep 19 | 3:06AM EDT |
NYMEX No2 Heating Oil » | 1.84USD | -0.00 | -0.10% | Aug 19 | 3:06AM EDT |
NYMEX Nat Gas » | 2.17USD | +0.02 | +1.06% | Aug 19 | 3:05AM EDT |
ICE NBP Nat Gas » | 31.52GBP | -0.12 | -0.38% | Aug 19 | 3:06AM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
CBOT Corn » | 363.25USC | +4.25 | +1.17% | Sep 19 | 3:06AM EDT |
CBOT Wheat » | 476.50USC | +2.75 | +0.58% | Sep 19 | 3:06AM EDT |
KCBT Wheat » | 389.00USC | +4.25 | +1.09% | Sep 19 | 3:06AM EDT |
MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
Euronext Milling Wheat » | 166.75EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
CBOT Soybean» | 870.25USC | +4.75 | +0.55% | Sep 19 | 3:06AM EDT |
Stay tuned…