Gold Down, USD Up, Stocks Off + Commodities

Gold Down, USD Up, Stocks Off + Commodities

Gold Down, USD Up, Stocks Off + Commodities

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

In Asia

Gold: Gold prices fell to their lowest mark in a week Friday, and were set for their biggest weekly decliner since August, on a firmer USD as the US FOMC indicated they will continue to raise interest rates, lowering demand for gold coins and bars.

  • Spot gold fell 0.4% to $1,218.23 oz at 0357 GMT, having touched its lowest mark since 1 November at $1,218.08.
  • Gold was down 1.2% for the week, its biggest weekly decliner since the week of 17 August.
  • US gold futures fell 0.3% to $1,221.70 oz.

Energy: Crude Oil markets Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with US Crude Oil now down by around 20% since early October, that is Bear Market territory

  • NYMEX WTI Crude Oil futures were at $65.60 bbl at 0509 GMT, down 4c, or 0.1% from their last settlement. WTI is set to fall for a 5th week running, – 4.1% on the week.
  • Front-month ICE Brent Crude Oil futures (LCOc1) were at $70.69 bbl, 4c above their last close. Brent Crude Oil is set for a 2.9% fall on the week, its 5th week running of decliners.

Both Brent Crude Oil and WTI Crude Oil have declined by around 20% from the 4-year highs they marked in early October.

Crude Oil prices continue to fall and are officially in a Bear Market, having declined 20% from their October peak highs, and my work says that Brent Crude Oil may should see $68.59-69.69 bbl soon.

Note: The slowdown in the global economy remains the Key downside risk in Crude Oil.

The US Dollar (.DXY) Index gained against its peers Friday as the FOMC Thursday kept interest rates steady, but reaffirmed its monetary tightening stance into Y 2019, .DXY climbed about 0.8% in Thursday’s US session.

Stocks: Asian stocks pulled back from a 1-month high Friday as the FOMC appeared poised to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.1% and was headed for a loss of 1 on the the week. Thursday, the index hit its highest mark since 8 October

Australian stocks slipped 0.4%, South Korea’s KOSPI edged down 0.3% and Japan’s Nikkei finished – 0.8%.

Hong Kong’s Hang Seng lost 1.9% and the Shanghai Composite Index fell 0.8 on the day

Note: China’s main board shares overall have lost $4.3-T since the trade dust up with the US started earlier this year.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
60.63 USD
-0.04
-0.07% Nov 18 1:09AM EST CLc1
ICE Brent Crude »
70.76 USD
+0.11
+0.16% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.64 USD
+0.00
+0.01% Nov 18 1:04AM EST RBc1
Dubai Crude Spot »
69.29 USD
-0.16
-0.23% Dec 02 1:19AM EST DUB-1M
ICE Gas Oil »
671.50 USD
-10.00
-1.49% Nov 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
2.17 USD
+0.00
+0.04% Nov 18 1:08AM EST HOc1
NYMEX Nat Gas »
3.58 USD
+0.04
+1.01% Nov 18 1:10AM EST NGc1
ICE NBP Nat Gas »
67.02 GBP
+0.00
0.00% Nov 18 7:00PM EST

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,218.70USD
-4.80
-0.39% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,222.90USD
+0.00
0.00% Nov 18 7:01PM EST GCc1
Silver Spot »
14.34USD
-0.07
-0.49% Dec 02 7:00PM EST XAG=X
Platinum Spot »
853.45USD
-10.65
-1.25% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,124.40USD
+0.25
+0.02% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.73USD
-0.01
-0.26% Nov 18 12:00AM EST

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
371.50USC
-2.00
-0.54% Dec 18 1:11AM EST Cc1
CBOT Wheat »
505.50USC
-2.25
-0.45% Dec 18 1:10AM EST Wc1
KCBT Wheat »
493.25USC
-4.00
-0.81% Dec 18 1:05AM EST KWc1
MGE Spring Wheat »
577.50USC
-2.50
-0.43% Dec 18 1:08AM EST 1MWEc1
Euronext Milling Wheat »
200.00EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybeans »
864.75USC
-2.75
-0.32% Nov 18 11:11PM EST Sc1
CBOT Soybean Oil »
27.93USC
-0.09
-0.32% Dec 18 1:11AM 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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