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

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

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

Headlines

  • Asia stocks advance as China’s rate adjustment improves investor mood
  • Crude Oil prices climb after Saudi oilfield attack
  • Gold prices dip on firmer USD and equities

Gold: Gold prices dipped Monday on a stronger USD, and a recovery in equities, as hints of more stimulus from major central banks around the world eased concerns about a recession.

  • Spot gold was down 0.4% at $1,507.11 oz at 0602 GMT,
  • US gold futures fell 0.5% to $1,515.70 oz.

Note: Spot gold has gained 19% so far since falling to the year’s low of $1,265.85 in May.

The USD is getting stronger, and given that gold had a very good rally over the last few weeks, we are just seeing some profit-taking now, the recovery in equities appears fragile and gold looks constructive

Energy: Crude oil prices rose Monday following a weekend attack on a Saudi production facility by Yemeni separatists and as traders looked for any signs that US-China trade tensions could ease.

  • ICE Brent Crude Oil LCOc1 was up 64c, or about 1.1%, at $59.28 bbl at 0255 GMT,
  • NYMEX WTI Crude Oil CLc1 was up 55c, or 1%, at $55.42 bbl.

Price gains were capped by an unusually downbeat OPEC report that stoked concerns about growth in petroleum demand.

Equities: Asian stocks rode a Wall Street rally Monday and were cheered by a decision from China’s PBoC to alter the way it sets a Key interest rate benchmark, a move seen by analysts as reducing borrowing costs for companies.

In early European trade, the futures for the pan-region Euro Stoxx 50 STXEc1 were up 0.3%, those for German’s DAX FDXc1 and Britain’s FTSE FFIc1 were each 0.5% higher.

In China, the Shanghai Composite Index .SSEC rose 1.6%. MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS gained 1.1%.

Currencies: JPY, a gauge of risk sentiment due to its perceived status as a safe-haven, weakened for its 3rd session running.

.DXY is hanging near a 2-week high of 98.339 climbed Friday. .DXY was supported as US Treasury yields bounced back from recent lows in the wake of German stimulus hopes.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,507.26USD-6.49-0.43%Dec 023:09AM EDT
COMEX 100oz Gold »1,506.00USD-6.50-0.43%Aug 199:11PM EDT
Silver Spot »17.03USD-0.05-0.29%Dec 022:59AM EDT
Platinum Spot »848.70USD+4.20+0.49%Dec 022:59AM EDT
Palladium Spot »1,452.50USD+4.50+0.31%Dec 022:59AM EDT
COMEX Copper »2.59USD+0.000.00%Aug 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.54USD+0.67+1.21%Aug 193:00AM EDT
ICE Brent Crude »59.44USD+0.80+1.35%Aug 193:00AM EDT
NYMEX RBOB Gasoline »1.67USD+0.02+1.06%Aug 193:00AM EDT
Dubai Crude Spot »58.51USD+0.80+1.37%Dec 023:10AM EDT
ICE Gas Oil »565.25USD+5.75+1.02%Sep 192:59AM EDT
NYMEX No2 Heating Oil »1.83USD+0.02+1.08%Aug 192:59AM EDT
NYMEX Nat Gas »2.19USD-0.01-0.55%Aug 192:58AM EDT
ICE NBP Nat Gas »30.48GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »365.75USC-5.25-1.44%Sep 192:53AM EDT
CBOT Wheat »467.50USC-3.25-0.70%Sep 192:59AM EDT
KCBT Wheat »392.25USC-2.00-0.51%Sep 192:53AM 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 »861.50USC-5.75-0.67%Sep 192:58AM EDT

Have a terrific week.

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.