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 Flat, Crude Oil Off, Stocks Off

Headlines

  • Crude Oil prices drop on concern over US economy
  • Bonds reign supreme, equities struggle on recession, BREXIT fears
  • Gold prices marked gains Thursday against the backdrop of recession fears
  • USD flat to unchanged

Gold: The precious metal markets highlighted investors’ quest to buy safer assets.

  • Gold rose 0.3% to $1,543.7 oz, near 6 year highs at $1,556.1 set earlier in the week,
  • US gold futures were up 0.2% at $1,552.40 oz
  • Silver extended its Bull run and rose 0.85% to fetch $18.32 oz, edging near its 2017 high.

Gold tends to appreciate on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding gold.

Energy: Crude Oil prices fell Thursday for the 1st time in 3 days after San Francisco Fed President Mary Daly sounded a note of concern about the strength of US economy.

  • ICE Brent Crude Oil was down 31c or 0.5%, at $60.18 bbl by 0638 GMT,
  • NYMEX WTI Crude Oil was down 18c, or 0.3%, at $55.60 bbl.

Concerns about a slowdown in economic growth due to the trade dispute raging between the US and China, along with the potential hit to oil demand, are keeping prices in check.

Ms. Daly said Thursday in New Zealand that she believes the US economy has “strong” momentum, but uncertainty and a global growth slowdown are having an impact.

Equities: Global bond yields flirted with record lows, while stocks moved down Thursday, as global recession worries from intensifying U-China frictions and the notion of a no-deal BREXIT drove investors to safer havens

MSCI’s broadest index of Asia-Pacific shares sans Japan fell 0.15%, Singapore shares hit 8-month lows, while Japan’s Nikkei shed 0.07%.

On Wall Street, the S&P 500 gained 0.65% Wednesday due in part to gains in the energy sector. But US stock futures lost 0.2% in Asia.

European shares are expected to fall again, with pan-European Euro Stoxx 50 futures down 0.21%.

Currencies: .DXY, which measures the Buck Vs a basket of 6 peer currencies, was little changed after rising 0.2% in the prior session

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,542.27USD+3.47+0.23%Dec 023:50AM EDT
COMEX 100oz Gold »1,544.70USD+5.90+0.38%Sep 193:22AM EDT
Silver Spot »18.55USD+0.22+1.19%Dec 023:50AM EDT
Platinum Spot »913.08USD+13.08+1.43%Dec 023:50AM EDT
Palladium Spot »1,485.00USD+15.99+1.08%Dec 023:50AM EDT
COMEX Copper »2.56USD+0.01+0.37%Sep 193:43AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.81USD+0.03+0.05%Sep 193:43AM EDT
ICE Brent Crude »60.21USD-0.28-0.47%Aug 193:43AM EDT
NYMEX RBOB Gasoline »1.69USD+0.01+0.46%Aug 193:42AM EDT
Dubai Crude Spot »59.35USD-0.33-0.56%Dec 023:52AM EDT
ICE Gas Oil »566.75USD-2.75-0.49%Sep 193:44AM EDT
NYMEX No2 Heating Oil »1.85USD-0.00-0.08%Aug 193:42AM EDT
NYMEX Nat Gas »2.23USD+0.01+0.27%Sep 193:43AM EDT
ICE NBP Nat Gas »29.15GBP+0.38+1.30%Aug 193:30AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »363.75USC+1.00+0.27%Sep 193:43AM EDT
CBOT Wheat »470.00USC-2.25-0.48%Sep 193:35AM EDT
KCBT Wheat »390.00USC-2.25-0.58%Sep 193:24AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »166.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»852.75USC+0.000.00%Sep 193:37AM EDT

Stay tuned…

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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.

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