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

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


In Asia

Gold: Gold prices climbed Friday as USD retreated on expectations the Fed will pause interest rate hikes if the US economy slows this year, while investors awaited news on progress in the US-Chinatrade talks.

  • Spot gold rose 0.6% to $1,293.55 oz as at 0604 GMT, heading for a 4th straight weekly gainer. The precious Yellow metal is up 0.7% so far this week.
  • US gold futures were up 0.5% at $1,293.4 oz
  • Silver rose about 0.9% $15.70 oz
  • Platinum was Unchanged at $819.74 oz
  • Palladium up 0.8% to $1,331.85 oz

The weaker USD and a more Dovish Fed are the 2 most alluring factors for gold in here.

Energy: Crude Oil prices on track for solid weekly gains Friday after financial markets were lifted by hopes the US and China may soon resolve their trade disputes, and as OPEC-led output cuts started to tighten supply.

  • ICE Brent Crude Oil futures were at $61.59 bbl at 0555 GMT, down 9c, or 0.15%, from Thursday’s close.
  • NYMEX WTI Crude Oil futures were 4c below their last settlement, at $52.55 bbl

Brent and WTI are set for their 2nd week of gainers, rising nearly 8 and 10% respectively.

Markets were being supported by hopes that the trade war between Washington and Beijing may be resolved soon after officials said 3-day talks this week concluded constructively and that further negotiations would likely follow this month.

Equities: Asian equities are now at 1-month highs, but the rally’s momentum slowed partly as investors sought more clarity on whether the United States and China made significant headway on their trade talks. Seems so…

Currencies: The Fed’s dovish stance kept a lid on the USD, China’s RMB Yuan rose to its highest marks in more than 5 months and was on course for its biggest weekly gainer since the Y 2005 revaluation in onshore trade.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »52.60 USD+0.01+0.02%Jan 191:25AM EST
ICE Brent Crude »61.55 USD-0.13-0.21%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.43 USD-0.00-0.27%Jan 191:25AM EST
Dubai Crude Spot »60.44 USD+0.30+0.50%Dec 021:34AM EST
ICE Gas Oil »572.75 USD+2.25+0.39%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.90 USD-0.00-0.17%Jan 191:25AM EST
NYMEX Nat Gas »3.02 USD+0.05+1.69%Jan 191:24AM EST
ICE NBP Nat Gas »59.87 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,291.76USD+5.44+0.42%Dec 027:00PM EST
COMEX 100oz Gold »1,284.70USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.67USD+0.11+0.70%Dec 027:00PM EST
Platinum Spot »822.20USD+2.40+0.29%Dec 027:00PM EST
Palladium Spot »1,332.00USD+10.05+0.75%Dec 027:00PM EST
COMEX Copper »2.64USD+0.000.00%Jan 197:01PM EST
CBOT Corn »378.75USC+2.50+0.66%Mar 191:31AM EST
CBOT Wheat »518.25USC+4.50+0.87%Mar 191:33AM EST
KCBT Wheat »504.25USC+5.50+1.09%Mar 191:31AM EST
MGE Spring Wheat »568.00USC+4.00+0.70%Mar 191:18AM EST
Euronext Milling Wheat »203.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »897.50USC+2.00+0.22%Jan 198:00PM EST

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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