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

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

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

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

Headlines

  • Crude Oil rises, set for weekly gainer
  • Asia shares rise on trade disputes hopes
  • .DXY Vs a basket of 6 peer currencies was little changed
  • Investors took profits in gold Thursday

Gold: Gold retreated Thursday as investors booked profits after the metal rallied to a six-year peak in the previous session and hopes of a thaw in US -China trade ties drove demand for riskier assets.

  • Spot gold fell 0.6% to $1,542.51 oz as of 1143 GMT, having marked $1,557 Wednesday, its highest since April 2013,
  • US Dec 19 gold futures dropped 0.6% to $1,551.30 oz.

The fact that the US and China agreed to restart talks probably has taken a little bit of steam off gold. We saw gold touching a high at $1,557, so it bounced down slightly, see it as just be an element of profit taking in here.

Energy: Crude Oil prices up Friday, with crude benchmarks set for multi-week gains on a sharp drawdown in US inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month.

  • ICE Brent Crude Oil up 17c, or 0.3%, at $61.12 bbl by 0408 GMT,
  • NYMEX WTI Crude Oil up 16c, or 0.3%, at $56.46 bbl.

Brent Crude is set to mark its 4th weekly gainer, while WTI Crude is headed for a 2nd weekly rise.

Equities: Asian stocks joined global peers and rose Friday, while safe havens such as government bonds, gold and JPY were on the defensive amid hopes for easing US-China trade disputes and as firm US economic data increased risk appetites.

MSCI’s broadest index of Asia-Pacific shares sans Japan added 0.4%, putting it on track for a 2.2% weekly gainer, which would make it the best week since mid-June.

The Shanghai Composite Index was up 0.2% and Hong Kong’s Hang Seng rose 0.6%.

Australian stocks gained 0.6%, SKorea’s KOSPI climbed 0.3% and Japan’s Nikkei advanced 0.6%.

Currencies: USD stood at 107.070 JPY after climbing to a 1-month high of 107.235 overnight. The Buck has gained about 0.7% Vs the Japanese currency this week as the decrease in risk aversion reduced demand for the safe-haven JPY

GBP hanging near a 6-wk high at $1.2353 scaled the previous day on hopes that Britain could avoid exiting the EU without a deal.

EUR was steady at $1.1035 after rising 0.5% overnight, when it was lifted by GBP’s bounce.

.DXY Vs a basket of 6 peer currencies was little changed at 98.420 after pulling back from a 1-week low of 98.085 the previous day, thanks to a rise in US Treasury yields.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,517.91USD-1.19-0.08%Dec 021:29AM EDT
COMEX 100oz Gold »1,513.30USD-2.10-0.14%Sep 1911:02PM EDT
Silver Spot »18.53USD-0.10-0.54%Dec 021:29AM EDT
Platinum Spot »940.75USD-17.62-1.87%Dec 021:29AM EDT
Palladium Spot »1,549.72USD-9.47-0.61%Dec 021:29AM EDT
COMEX Copper »2.61USD-0.02-0.59%Sep 191:25AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.34USD+0.04+0.07%Sep 191:29AM EDT
ICE Brent Crude »61.00USD+0.05+0.08%Sep 191:29AM EDT
NYMEX RBOB Gasoline »1.55USD+0.00+0.15%Sep 191:22AM EDT
Dubai Crude Spot »59.04USD+0.17+0.29%Dec 021:39AM EDT
ICE Gas Oil »578.25USD-8.00-1.38%Sep 1912:47AM EDT
NYMEX No2 Heating Oil »1.89USD+0.00+0.06%Sep 191:22AM EDT
NYMEX Nat Gas »2.42USD-0.01-0.62%Sep 191:29AM EDT
ICE NBP Nat Gas »31.57GBP+0.000.00%Sep 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »348.25USC+1.75+0.50%Sep 1912:31AM EDT
CBOT Wheat »464.00USC+0.000.00%Sep 195:39PM EDT
KCBT Wheat »382.00USC+0.000.00%Sep 195:33PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »159.00EUR+0.000.00%Sep 1912:23PM EDT
CBOT Soybean »849.75USC+0.000.00%Sep 195:37PM EDT

Have a terrific weekend

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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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