Gold Steady, USD Up, Stocks Higher + Commodities

Gold Steady, USD Up, Stocks Higher + Commodities

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

  • Gold Prices Steady
  • US Dollar Up
  • Crude Oils Down
  • Asian Stocks Higher
  • Traders eye US NFPs Data
  • Traders eye US Earnings Data

In Asia

Gold prices were steady in early Asian trade Friday, after rising about 1.5% in the prior session, while the USD inched up ahead of the US NFP data.

  • Spot gold was steady at $1,232.72 oz, as of 0116 GMT.
  • U.S. gold futures (GCcv1) were down 0.4% at $1,233.8 oz.
  • The .DXY , which measures the Buck against a basket of 6 peer currencies, was up 0.1%.

Notes: Global demand for gold rose slightly in Q-3 compared to the same frame a year ago as resurgent buying from central banks and retail consumers balanced huge outflows from ETFs (exchange traded funds), the World Gold Council (WGC) said Thursday. Gold demand in Y 2018 is expected to fall from the prior year as a rally in local prices to 5-year highs is likely to dent purchases during Key festivals in the December frame WGC said Thursday.

According to a Reuters survey of economists, NFPs probably rebounded by 190,000 jobs in October after Florence depressed restaurant and retail payrolls in September.

Energy: Crude Oil prices fell Friday as record crude output by the world’s 3 largest producers outweighed supply concerns from the start of US sanctions next week against Iran’s petroleum exports.

  • Front-month ICE Brent Crude futures were at $72.50 bbl at 0240 GMT Friday, -39c, or 0.5%, from their last close.
  • NYMEX WTI Crude Oil futures were off 37c, or 0.6%, at $63.32 bbl.

Note: Crude Oil prices took a severe hit as investors were unnerved on rising global inventories and record high output in Y 2018 from oil-producing nations.

Brent Crude Oil has fallen by over 12% since the beginning of October, while WTI Crude Oil has lost more than 13% in value.

Stocks: Asian equities rose in morning trade Friday, with Chinese stocks gaining around 2% on reports that US President Donald Trump said he had a productive conversation with Chinese President Xi Jinping on trade.

“Those discussions are moving along nicely,” President Trump wrote on Twitter Thursday. “Also had good discussion on North Korea!” Trump and Xi are due to meet at the G-20 Summit later this month.

President Trump said the door is still open for US-China trade talks, just days after reports said he was considering imposing tariffs on all remaining Chinese imports by early December if discussions between the two leaders do not go well.

China’s Shanghai Composite and the Shenzhen Component rose 1.4% and 2.5% respectively by 10:00 PM ET (02:00 GMT). Hong Kong’s Hang Seng Index also traded 2.5% higher.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
63.73 USD
+0.04
+0.06% Nov 18 2:49AM EDT CLc1
ICE Brent Crude »
73.22 USD
+0.33
+0.45% Nov 18 8:00PM EDT LCOc1
NYMEX RBOB Gasoline »
1.73 USD
+0.01
+0.49% Nov 18 2:49AM EDT RBc1
Dubai Crude Spot »
71.55 USD
+0.23
+0.32% Dec 02 2:59AM EDT DUB-1M
ICE Gas Oil »
687.75 USD
+2.00
+0.29% Nov 18 8:00PM EDT LGOc1
NYMEX No2 Heating Oil »
2.20 USD
+0.00
+0.19% Nov 18 2:48AM EDT HOc1
NYMEX Nat Gas »
3.24 USD
+0.00
+0.12% Nov 18 2:49AM EDT NGc1
ICE NBP Nat Gas »
65.72 GBP
+0.00
0.00% Nov 18 8:00PM EDT

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,232.41USD
-0.39
-0.03% Dec 02 8:00PM EDT XAU=X
COMEX 100oz Gold »
1,232.70USD
-3.30
-0.27% Nov 18 12:00AM EDT GCc1
Silver Spot »
14.72USD
-0.03
-0.17% Dec 02 8:00PM EDT XAG=X
Platinum Spot »
865.50USD
+9.00
+1.04% Dec 02 8:00PM EDT XPT=X
Palladium Spot »
1,098.97USD
+5.47
+0.50% Dec 02 8:00PM EDT XPD=X
COMEX Copper »
2.72USD
-0.00
-0.06% Nov 18 12:00AM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
368.75USC
+2.00
+0.54% Dec 18 2:48AM EDT Cc1
CBOT Wheat »
508.25USC
+0.25
+0.05% Dec 18 2:49AM EDT Wc1
KCBT Wheat »
503.50USC
+2.25
+0.45% Dec 18 2:29AM EDT KWc1
MGE Spring Wheat »
577.50USC
+0.75
+0.13% Dec 18 2:38AM EDT 1MWEc1
Euronext Milling Wheat »
200.75EUR
+0.00
0.00% Dec 18 8:00PM EDT BL2c1
CBOT Soybeans »
885.75USC
+16.75
+1.89% Nov 18 2:44AM 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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