Gold Up, USD Off, Stocks Mixed + Commodities

Gold Up, USD Off, Stocks Mixed + Commodities

Gold Up, USD Off, Stocks Mixed + Commodities

  • $GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT
  • Gold Prices Up
  • US Dollar Off
  • Crude Oil Off
  • Asian Stocks Mixed

In Asia

Gold: Gold prices held recent gains in early Asian trade Friday on lingering doubts over the pace of rate hikes by the US Federal Reserve, putting the precious Yellow metal on track for a 2nd straight weekly gainer.

  • Spot gold was steady at $1,226.38 oz at 0104 GMT. The metal was ahead for a 2nd straight week, up around 0.4% after a 1% gain last week.
  • US gold futures were little changed at $1,226.9 oz.

Energy: Crude Oil prices marked Y 2018 lows Friday pushed down an emerging  supply overhang slowed economic outlook.

  • ICE Brent Crude Oil futures hit their lowest since December 2017 at $61.52 bbl, before recovering to $61.88 by 0622 GMT. That was 72c, or 1.2% below their last close.
  • NYMEX WTI Crude Oil futures fell by 2.5%, to $53.29 bbl, after coming within 5c of an October 2017 low marked earlier this week.

During this 6 week decliner, both Brent and WTI price volatility jumped in November to approach marks not seen since the market slump of Y’s 2014-2016.

OPEC officially meets on 6 December to discuss its forward supply policy.

Currencies: EUR edged up to $1.1413, despite statements by Italy’s leaders that they would press ahead with expanding the country’s deficit next year and resist pressure from EU authorities to trim its budget, as investors focus on conciliatory rather than confrontational comments. USD weakened 0.08% Vs JPY to 112.84.

China’s RMB Yuan (CNY) fell to 6.9386 per USD, with trade concerns weighing. The currency has also come under pressure in recent weeks in sympathy with falling Chinese rates, with yields on shorter-term Chinese government bonds below their US counterparts.

Stocks:  Asian stocks were mixed in morning trade Friday, with Chinese stocks down more about 2% on reports that the US government asked Key allies to avoid using equipment manufactured by China’s Huawei Technologies.

The Shanghai Composite and the Shenzhen Component were down 1.7% and 1.9% respectively at 10:00p ET (03:00 GMT). Hong Kong’s Hang Seng Index was down 0.5%.

Japan’s Nikkei 225 gained 0.7%.

South Korea’s KOSPI slipped 0.5%.

Down under, Australia’s ASX 200 inched up 0.5%

Commodities

Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
53.39 USD
-1.24
-2.32% Dec 18 2:18AM EST CLc1
ICE Brent Crude »
62.13 USD
-0.47
-0.76% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.48 USD
-0.04
-2.37% Nov 18 2:12AM EST RBc1
Dubai Crude Spot »
61.08 USD
-0.46
-0.75% Dec 02 2:30AM EST DUB-1M
ICE Gas Oil »
595.25 USD
-3.00
-0.50% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
1.95 USD
-0.02
-1.25% Nov 18 2:19AM EST HOc1
NYMEX Nat Gas »
4.27 USD
-0.18
-4.31% Nov 18 2:18AM EST NGc1
ICE NBP Nat Gas »
66.00 GBP
-1.05
-1.59% Nov 18 7:00PM EST

Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,223.41USD
-3.29
-0.27% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,224.80USD
-1.00
-0.08% Nov 18 2:13AM EST GCc1
Silver Spot »
14.29USD
-0.19
-1.33% Dec 02 7:00PM EST XAG=X
Platinum Spot »
838.49USD
-5.21
-0.62% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,147.90USD
-5.10
-0.44% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.79USD
+0.00
0.00% Nov 18 4:53PM EST

Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
361.75USC
+0.00
0.00% Dec 18 5:02PM EST Cc1
CBOT Wheat »
498.75USC
+0.00
0.00% Dec 18 2:19PM EST Wc1
KCBT Wheat »
469.00USC
+0.00
0.00% Dec 18 5:33PM EST KWc1
MGE Spring Wheat »
572.00USC
+0.00
0.00% Dec 18 8:00PM EST 1MWEc1
Euronext Milling Wheat »
200.75EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybean»
883.00USC
+0.00
0.00% Jan 19 2:19PM 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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