$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD
FLASH: Gold Up, USD Up, Crude Oil Up, Stocks Up
Headlines
- 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
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| NYMEX Crude Oil » | 55.23 USD | +0.76 | +1.38% | Aug 19 | 2:08AM EDT |
| ICE Brent Crude » | 58.93 USD | +0.70 | +1.19% | Aug 19 | 2:08AM EDT |
| NYMEX RBOB Gasoline » | 1.65 USD | +0.02 | +1.04% | Aug 19 | 2:06AM EDT |
| Dubai Crude Spot » | 57.81 USD | +0.33 | +0.57% | Dec 02 | 2:18AM EDT |
| ICE Gas Oil » | 562.75 USD | +2.75 | +0.49% | Sep 19 | 2:06AM EDT |
| NYMEX No2 Heating Oil » | 1.83 USD | +0.01 | +0.79% | Aug 19 | 2:08AM EDT |
| NYMEX Nat Gas » | 2.21 USD | -0.02 | -0.90% | Aug 19 | 2:08AM EDT |
| ICE NBP Nat Gas » | 31.37 GBP | +0.00 | 0.00% | Aug 19 | 7:00PM EDT |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| Gold Spot » | 1,517.20USD | -5.76 | -0.38% | Dec 02 | 2:18AM EDT |
| COMEX 100oz Gold » | 1,518.20USD | -1.40 | -0.09% | Aug 19 | 1:36AM EDT |
| Silver Spot » | 17.18USD | -0.09 | -0.49% | Dec 02 | 2:18AM EDT |
| Platinum Spot » | 834.91USD | -3.59 | -0.43% | Dec 02 | 2:18AM EDT |
| Palladium Spot » | 1,448.24USD | +3.74 | +0.26% | Dec 02 | 2:18AM EDT |
| COMEX Copper » | 2.59USD | -0.00 | -0.04% | Aug 19 | 12:00AM EDT |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| CBOT Corn » | 362.00USC | +1.25 | +0.35% | Sep 19 | 2:08AM EDT |
| CBOT Wheat » | 469.50USC | +0.50 | +0.11% | Sep 19 | 2:13AM EDT |
| KCBT Wheat » | 390.50USC | +0.75 | +0.19% | Sep 19 | 1:47AM EDT |
| MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
| Euronext Milling Wheat » | 168.00EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
| CBOT Soybean» | 862.00USC | +4.00 | +0.46% | Sep 19 | 2:04AM EDT |
Have a terrific weekend
