Gold Higher, USD Higher, Stocks Lower + Commodities

Gold Higher, USD Higher, Stocks Lower + Commodities

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

  • Gold strengthens on risk-off trade
  • China’s growth slows
  • US Dollar (.DXY) Index up on the week
  • Crude Oil futures fall again on supply/demand issues

In Asia

Gold prices are higher Friday as Asian shares fell on renewed political and economic concerns including China’s weak growth, with the precious Yellow metal on track for a 3rd straight weekly gainer.

Gold is in a strong technical position, I am forecasting gold to end the year around $1,240 oz.

Spot gold was up 0.2% at $1,227.41 oz, as of 0441 GMT

US gold futures were up 0.1% at $1,230.9 oz

Spot gold may retest a support at $1,217 oz, a break below could see next support at $1,208.

In other precious metals

Platinum rose 0.6 percent to $830.30 oz; Palladium gained 0.7 to $1,078.40 oz; Silver was up 0.3% at $14.59 oz.

China’s economy grew 6.5% in Q-3 from a year earlier, its weakest pace since the global financial crisis, and missed expectations as a years-long campaign to tackle debt risks and the trade dispute with the US bites.

Energy

Crude Oil prices edged higher Friday on signs of rising demand in China, the world’s 2nd-biggest Crude Oil user, though prices are set to fall for a 2nd week running on concerns of the ongoing US-China  trade dispute is limiting overall economic activity.

ICE Brent Crude Oil futures were trading at $79.51 bbl at 0521 GMT, +22c, or 0.3%, from their last close.

NYMEX WTI Crude Oil  futures were up 19c, or 0.3%, at $68.84 bbl.

On the week, Brent Crude Oil was 1.1% lower, while WTI Crude Oil futures were down 3.5%, putting both on track for a 2nd consecutive weekly decliner.

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
68.99 USD
+0.34
+0.49% Oct 18 2:00AM EDT CLc1
ICE Brent Crude »
79.63 USD
+0.34
+0.43% Oct 18 1:59AM EDT LCOc1
NYMEX RBOB Gasoline »
1.90 USD
+0.01
+0.35% Oct 18 1:52AM EDT RBc1
Dubai Crude Spot »
77.55 USD
+0.26
+0.34% Dec 02 2:10AM EDT DUB-1M
ICE Gas Oil »
711.25 USD
-2.50
-0.35% Nov 18 1:59AM EDT LGOc1
NYMEX No2 Heating Oil »
2.30 USD
+0.01
+0.36% Oct 18 1:54AM EDT HOc1
NYMEX Nat Gas »
3.24 USD
+0.05
+1.42% Oct 18 2:00AM EDT NGc1
ICE NBP Nat Gas »
69.85 GBP
+0.00
0.00% Oct 18 11:59AM EDT

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,228.61USD
+3.60
+0.29% Dec 02 2:08AM EDT XAU=X
COMEX 100oz Gold »
1,226.50USD
+0.00
0.00% Oct 18 9:48AM EDT GCc1
Silver Spot »
14.65USD
+0.10
+0.72% Dec 02 2:08AM EDT XAG=X
Platinum Spot »
828.74USD
+3.24
+0.39% Dec 02 2:08AM EDT XPT=X
Palladium Spot »
1,082.30USD
+11.80
+1.09% Dec 02 2:08AM EDT XPD=X
COMEX Copper »
2.74USD
+0.00
+0.05% Oct 18 12:37AM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
370.25USC
-0.50
-0.14% Dec 18 2:03AM EDT Cc1
CBOT Wheat »
513.75USC
+0.75
+0.15% Dec 18 2:02AM EDT Wc1
KCBT Wheat »
515.25USC
+0.50
+0.10% Dec 18 1:45AM EDT KWc1
MGE Spring Wheat »
587.50USC
+2.50
+0.43% Dec 18 1:32AM EDT 1MWEc1
Euronext Milling Wheat »
201.25EUR
+0.00
0.00% Dec 18 12:29PM EDT BL2c1
CBOT Soybeans »
862.50USC
-1.00
-0.12% Nov 18 2:02AM 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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