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Sunday, July 25, 2021

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


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


  • 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

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
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
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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