Gold Lower, USD Higher, Stocks Higher  + Commodities

Gold Lower, USD Higher, Stocks Higher  + Commodities

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

  • Gold Coming Off of 3 Month Highs
  • US Dollar (.DXY) Index Firms
  • Crude Oil Softens
  • Asian Stocks Edging Up
  • Traders eye US Economic Data
  • Traders eye US Earnings Data

In Asia

Gold prices inched down early on Monday to drift away from a more than 3-month highs marked last Friday’s session, as USD firmed and Asian stocks edged up after last week’s decliner. Money managers cut their net short position in COMEX gold by 10,473 contracts to 26,899 contracts, the smallest net short position since mid-July, in the week to 23 October,

  •  Spot gold down 0.1% at $1,232.54 oz at 0055 GMT. Last Friday, it marked its highest since 17 July at $1,243.32, + 0.6% last week in its 4th straight weekly gainer, its longest run since January.
  • US gold futures (GCcv1) were down 0.1% at $1,234.70 oz.
  • Silver was up 0.4% at $14.67 oz, while Platinum was 0.1% lower at $828.95 oz.
  • Crude Oil prices dipped Monday as sentiment remained cautious after the dive in financial markets last week triggered concerns that global growth may be slowing. There is no shortage of Crude Oil.
  • Asian shares looked set for a bounce Monday, sentiment is fragile, as Bears are still up after steep declines across world financial markets last week.
  • .DXY, which measures the Buck against a basket of 6 major currencies, was up 0.1%
  • Profit growth at China’s industrial firms slowed for the 5th consecutive month in September as sales of raw materials and manufactured goods further ebbed, pointing to cooling domestic demand in the world’s 2nd-biggest economy.
  • US Defense Secretary Jim Mattis said Sunday that he had met Saudi Arabia’s foreign minister and called for a transparent investigation into the killing of journalist Jamal Khashoggi.
  • Britain’s budget announcement Monday and a “Super Thursday” at the Bank of England would normally be key moments for the world’s 5th-biggest economy, but this time they are likely to be overshadowed by the drama of BREXIT. British finance minister Philip Hammond warned rebels in his Conservative Party that he would have to quickly reverse plans to ease nearly a decade of austerity if London fails to get a BREXIT deal.
  • Chancellor Angela Merkel’s junior coalition partners gave her conservatives until next year to deliver more policy results, threatening to end their alliance if there is no improvement after both parties suffered in a regional election Sunday in Hesse.
  • Fed officials last week tried to ease concerns on Wall Street that bank reserves are growing scarce and that the Fed’s Key rate will edge up above a policy range, possibly forcing it to permanently hold more assets than planned.
  • Standard & Poor’s Friday left Italy’s sovereign debt rating unchanged but lowered its outlook to negative from stable, saying that the new government’s policy plans were weighing on the country’s growth and debt prospects.
  • Gold demand in India last week was muted as a recent rally in domestic prices prompted buyers to postpone purchases despite the approaching festival and wedding season.
  • Hedge funds and money managers cut their net short position in COMEX gold by 10,473 contracts to 26,899 contracts, the smallest net short position since mid-July, in the week to 23 October, data showed.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
67.66 USD
+0.07
+0.10% Nov 18 1:18AM EDT CLc1
ICE Brent Crude »
77.63 USD
+0.01
+0.01% Oct 18 8:00PM EDT LCOc1
NYMEX RBOB Gasoline »
1.81 USD
-0.00
-0.28% Oct 18 1:08AM EDT RBc1
Dubai Crude Spot »
76.11 USD
-0.03
-0.04% Dec 02 1:28AM EDT DUB-1M
ICE Gas Oil »
716.50 USD
+3.00
+0.42% Nov 18 8:00PM EDT LGOc1
NYMEX No2 Heating Oil »
2.30 USD
-0.00
-0.15% Oct 18 1:08AM EDT HOc1
NYMEX Nat Gas »
3.14 USD
-0.05
-1.53% Oct 18 1:14AM EDT NGc1
ICE NBP Nat Gas »
65.27 GBP
+0.00
0.00% Oct 18 8:00PM EDT

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,232.61USD
-0.56
-0.05% Dec 02 8:00PM EDT XAU=X
COMEX 100oz Gold »
1,232.50USD
+0.00
0.00% Oct 18 7:00PM EDT GCc1
Silver Spot »
14.66USD
+0.05
+0.34% Dec 02 8:00PM EDT XAG=X
Platinum Spot »
827.50USD
-2.50
-0.30% Dec 02 8:00PM EDT XPT=X
Palladium Spot »
1,101.50USD
-3.00
-0.27% Dec 02 8:00PM EDT XPD=X
COMEX Copper »
2.74USD
+0.00
0.00% Oct 18 7:01PM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
370.50USC
+2.75
+0.74% Dec 18 1:15AM EDT Cc1
CBOT Wheat »
511.25USC
+6.00
+1.17% Dec 18 1:24AM EDT Wc1
KCBT Wheat »
506.75USC
+6.50
+1.28% Dec 18 1:09AM EDT KWc1
MGE Spring Wheat »
585.25USC
+7.50
+1.28% Dec 18 1:12AM EDT 1MWEc1
Euronext Milling Wheat »
202.50EUR
+0.00
0.00% Dec 18 8:00PM EDT BL2c1
CBOT Soybean»
850.00USC
+5.00
+0.59% Nov 18 1:14AM EDT

Have a terrific week

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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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