Gold Up, USD Up, Stocks Off + Commodities

Gold Up, USD Up, Stocks Off + Commodities

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

In Asia

Gold prices edged higher Tuesday as investors resorted to bargain-hunting after the precious Yellow metal fell to over 1-month lows, weighed by a stronger USD that has capped the market.

  • Spot gold was up 0.3% at $1,204.22 oz at 0339 GMT, having touched its lowest mark since 11 October at $1,199.72 earlier in Tuesday’s session.
  • US gold futures + 0.1% to $1,204.7 oz.

Gold is an important portfolio diversifier because of the rising volatility, and we see the recovering ETF holdings and the risk-off tone of the equity market augering well for gold prices.

Holdings at SPDR Gold Trust (GLD), the world’s largest gold-backed ETF rose 0.90% to 762.00 tonnes Monday.

Among other precious metals

Silver was up nearly 1% at $14.09 0z, having tapped a 2-month + low of $13.95 earlier in the session.

Palladium climbed 1.16% to $1,108.20 oz.

Platinum rose 0.6% to $845.80 oz.

USD: .DXY measures the Buck Vs a basket of 6 peer currencies is sitting just off of its 16-month high at 97.69 hit Monday, benefiting from save-haven flows as investors shunned riskier assets because of political uncertainties in Europe, fears of a global economic slowdown and US-China trade tensions.

A firmer US makes gold coins and bars expensive for holders of other currencies as the commodity is priced in USDs.

Energy: Crude Oil falls at President Trump calls on OPEC not to cut production.

Crude Oil prices fell by more than 1% Tuesday, with ICE Brent Crude Oil falling below $70 and NYMEX WTI Crude Oil falling to $59.06 bbl at 0115 GMT, -87c, or 1.5% from their last settlement, and International benchmark Brent Crude Oil futures (LCOc1) were at $69.17 bbl, -95c, or 1.4%, from their last close.

Stocks: Asian shares are down Tuesday after a selloff in tech stocks pulled down Wall Street.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
59.06 USD
-0.87
-1.47% Nov 18 1:01AM EST CLc1
ICE Brent Crude »
69.31 USD
-0.81
-1.17% Nov 18 7:00PM EST LCOc1
NYMEX RBOB Gasoline »
1.62 USD
-0.02
-1.22% Nov 18 1:00AM EST RBc1
Dubai Crude Spot »
68.02 USD
+0.18
+0.26% Dec 02 1:10AM EST DUB-1M
ICE Gas Oil »
654.25 USD
-12.25
-1.87% Dec 18 7:00PM EST LGOc1
NYMEX No2 Heating Oil »
2.14 USD
-0.01
-0.66% Nov 18 1:00AM EST HOc1
NYMEX Nat Gas »
3.94 USD
+0.15
+3.78% Nov 18 1:00AM EST NGc1
ICE NBP Nat Gas »
71.44 GBP
+0.00
0.00% Nov 18 7:00PM EST

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot »
1,203.66USD
+3.08
+0.26% Dec 02 7:00PM EST XAU=X
COMEX 100oz Gold »
1,201.30USD
+0.00
0.00% Nov 18 7:00PM EST GCc1
Silver Spot »
14.04USD
+0.08
+0.57% Dec 02 7:00PM EST XAG=X
Platinum Spot »
841.90USD
+1.20
+0.14% Dec 02 7:00PM EST XPT=X
Palladium Spot »
1,101.50USD
+6.00
+0.54% Dec 02 7:00PM EST XPD=X
COMEX Copper »
2.68USD
+0.00
0.00% Nov 18 7:01PM EST

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn »
370.75USC
-0.50
-0.13% Dec 18 1:05AM EST Cc1
CBOT Wheat »
517.50USC
-2.25
-0.43% Dec 18 1:13AM EST Wc1
KCBT Wheat »
492.25USC
-1.25
-0.25% Dec 18 1:01AM EST KWc1
MGE Spring Wheat »
581.75USC
-0.75
-0.13% Dec 18 1:01AM EST 1MWEc1
Euronext Milling Wheat »
202.00EUR
+0.00
0.00% Dec 18 7:00PM EST BL2c1
CBOT Soybean »
871.50USC
-0.25
-0.03% Nov 18 9:15PM EST

Stay tuned…

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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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