Gold Down, USD Up, Stocks Up + Commodities

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								Gold Down, USD Up, Stocks Up + Commodities

Gold Down, USD Up, Stocks Up + Commodities

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

  • Gold Prices Down
  • US Dollar Up
  • Crude Oil Higher 
  • Asian Stocks Higher
  • Focus on FOMC Minutes later Thursday

In Asia

Gold prices inched lower Thursday on the back of a stronger USD, as investors digested the US Congressional midterm election results and turned their focus to the Fed’s monetary policy decision due later Thursday.

The FOMC is not expected to raise interest rates until its next meeting in December, market participants are waiting to see whether it offers any clues about possible rate increases in December and into Y 2019.

Higher Us interest rates tend to boost USD, and drive up bond yields, reducing the appeal of non-yielding gold coins and bars.

Technically, Gold has found support around $1,223.

If we see good news from the FOMC, we may see a bounce, for now, I believe the Fed will continue with the monetary policy tightening.

  • Spot gold was -0.2% at $1,223.70 oz, as of 0410 GMT
  • US gold futures -0.3% to $1,224.7 oz.

Holdings in SPDR Gold Trust (GLD), the world’s largest gold-backed ETF, fell 0.19% to 755.23 tonnes Wednesday, marking the 4th straight session of decliners.

In other precious metals

Silver was -0.2% at $14.54 oz

Palladium fell 0.3% to $1,130.60 oz, after touching a 2-week high of $1,139.50 oz in the prior session.

Platinum was 0.7% lower at $866.85 oz, after hitting its highest since June 25 at $877.50 oz Wednesday.

Crude Oil prices were stable Thursday, supported by chatter from OPEC that production curbs may become necessary again to prevent a return of global oversupply.

But, soaring US Crude Oil output, kept a lid on prices.

NYMEX WTI Crude Oil futures were at $61.75 bbl at 0120 GMT, +8c from their last settlement.

Front-month ICE Brent Crude Oil futures (LCOc1) were +6c at $72.13 bbl.

The US Dollar (.DXY), which measures the Buck Vs a basket of 6 peer currencies, traded in a narrow range and was last +0.2%, having touched a more than 2-week low in the prior session.

Asian stocks rose to 1-month highs following a post-election rally on Wall Street.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.5%.

Hong Kong’s Hang Seng .HSI advanced 0.9% and the Shanghai Composite Index .SSEC rose 0.35%.

Australian stocks rose 0.5%, South Korea’s KOSPI .KS11 added 1.4% and Japan’s Nikkei .N225 gained 1.9%.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil » 61.71 USD +0.04 +0.06% Nov 18 12:49AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
ICE Brent Crude » 71.99 USD -0.08 -0.11% Nov 18 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
NYMEX RBOB Gasoline » 1.65 USD +0.00 +0.01% Nov 18 12:39AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
Dubai Crude Spot » 70.65 USD +0.05 +0.07% Dec 02 12:57AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
ICE Gas Oil » 696.75 USD +4.00 +0.57% Nov 18 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
NYMEX No2 Heating Oil » 2.23 USD -0.01 -0.27% Nov 18 12:45AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
NYMEX Nat Gas » 3.51 USD -0.04 -1.17% Nov 18 12:48AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
ICE NBP Nat Gas » 67.32 GBP +0.00 0.00% Nov 18 7:00PM EST

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot » 1,224.31USD -1.39 -0.11% Dec 02 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
COMEX 100oz Gold » 1,226.20USD +0.00 0.00% Nov 18 7:01PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
Silver Spot » 14.51USD -0.06 -0.40% Dec 02 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
Platinum Spot » 867.99USD -4.61 -0.53% Dec 02 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
Palladium Spot » 1,129.10USD -4.50 -0.40% Dec 02 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
COMEX Copper » 2.75USD +0.00 0.00% Nov 18 7:01PM EST

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn » 371.75USC -0.50 -0.13% Dec 18 12:52AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
CBOT Wheat » 510.25USC +0.00 0.00% Dec 18 12:52AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
KCBT Wheat » 502.75USC +0.50 +0.10% Dec 18 12:48AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
MGE Spring Wheat » 583.00USC +2.25 +0.39% Dec 18 12:46AM EST 
								Gold Down, USD Up, Stocks Up + Commodities
Euronext Milling Wheat » 201.25EUR +0.00 0.00% Dec 18 7:00PM EST 
								Gold Down, USD Up, Stocks Up + Commodities
CBOT Soybeans » 866.50USC -1.25 -0.14% Nov 18 12:22AM EST

Stay tuned…

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