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Tuesday, September 28, 2021

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


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


  • Crude Oil rises as US retail sales ease recession fears
  • Asia stocks up in stimulus speculation
  • Gold heads for 3rd weekly gainer on trade, growth concerns
  • Dollar index higher

Gold: Gold prices dipped Friday but were headed for a 3rd consecutive weekly gainer, as fears over a global economic slowdown and a lack of clarity on the US-China trade dispute boosted the precious Yellow metal’s safe-haven appeal.

  • Spot gold was down 0.3% at $1,518.60 per ounce as of 0537 GMT, but is up nearly 1.5% so far this week after rising in the prior weeks,
  • US gold futures inched down 0.1% to $1,529.10 oz

Gold is consolidating here. The important consideration is that none of the headwinds have gone away; the tariffs got delayed a bit, but the underlying trade dispute remains and lower yields are supportive gold.

Energy: Crude Oil prices rose Friday following 2 days of decliners, buoyed after data showing an increase in retail sales in the US helped dampen concerns about a recession in the world’s biggest economy.

  • ICE Brent crude LCOc1 was up 52c, or 0.9%, at $58.75 bbl at 0352 GMT,
  • NYMEX WTI Crude Oil CLc1 was up 65c or 1.2%, at $55.12 bbl.

The price of Brent is up nearly 10% YTD thanks to supply cuts led by OPEC+ and allies. In July, OPEC+ agreed to extend output cuts until March 2020 to prop up prices

Equities:  Asian shares found footing Friday after a volatile week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks.

A bounce in US and European stock futures also helped, with E-Minis for the S&P 500 up 0.55% and the EUROSTOXX 50 rising 0.5%.

MSCI’s broadest index of Asia-Pacific shares sans Japan responded by edging up 0.2%, though it was still down 1% on the week.

Japan’s Nikkei recouped early losses adding 0.09%, while Shanghai blue chips rose 0.7%.

Currencies: Vs a basket of 6 peer currencies, .DXY, edged higher. Since hitting a 3-week low on 9 August index has recovered, rising 1.1%.

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

NYMEX Crude Oil »55.23 USD+0.76+1.38%Aug 192:08AM EDT
ICE Brent Crude »58.93 USD+0.70+1.19%Aug 192:08AM EDT
NYMEX RBOB Gasoline »1.65 USD+0.02+1.04%Aug 192:06AM EDT
Dubai Crude Spot »57.81 USD+0.33+0.57%Dec 022:18AM EDT
ICE Gas Oil »562.75 USD+2.75+0.49%Sep 192:06AM EDT
NYMEX No2 Heating Oil »1.83 USD+0.01+0.79%Aug 192:08AM EDT
NYMEX Nat Gas »2.21 USD-0.02-0.90%Aug 192:08AM EDT
ICE NBP Nat Gas »31.37 GBP+0.000.00%Aug 197:00PM EDT
Gold Spot »1,517.20USD-5.76-0.38%Dec 022:18AM EDT
COMEX 100oz Gold »1,518.20USD-1.40-0.09%Aug 191:36AM EDT
Silver Spot »17.18USD-0.09-0.49%Dec 022:18AM EDT
Platinum Spot »834.91USD-3.59-0.43%Dec 022:18AM EDT
Palladium Spot »1,448.24USD+3.74+0.26%Dec 022:18AM EDT
COMEX Copper »2.59USD-0.00-0.04%Aug 1912:00AM EDT
CBOT Corn »362.00USC+1.25+0.35%Sep 192:08AM EDT
CBOT Wheat »469.50USC+0.50+0.11%Sep 192:13AM EDT
KCBT Wheat »390.50USC+0.75+0.19%Sep 191:47AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »168.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»862.00USC+4.00+0.46%Sep 192:04AM EDT

Have a terrific weekend

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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