Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities

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								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities

Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities

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

  • Gold strengthens on risk-off trade
  • US Dollar (.DXY) Index Falls
  • Crude Oil futures down on Saudi pledge
  • US stocks lower

In Asia

Gold prices Wednesday in global markets is up after hitting their highest in over 3 months in Tuesday’s US session, with international political and economic uncertainty underpinning safe-haven demand for the metal.

Spot gold was 0.1% at $1,231.27 oz at 0102 GMT, and Tuesday, it touched its highest since 17 July at $1,239.68.

US gold futures were down 0.2% at $1,234.20 oz

“Gold is supported by rising risk aversion washing through the markets and that is reflected in falling equity markets worldwide,” said Societe Generale analyst Robin Bhar. “Political uncertainty in Italy, geopolitical risks in the Middle East, Turkey and elsewhere had some safe-haven flows coming in and extending the rally in gold prices that began a couple a weeks ago.”

Holdings at the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), rose 0.3% to 747.88 tonnes Monday.

Palladium soared to a record high Tuesday, bringing the precious Gray metal to within striking distance of achieving parity with Gold after it outshone other precious metals including its closest rival, Platinum, this year.

A combination of factors, from tight supplies and large deficits to resurgent interest from speculative investors, has kept the Platinum group metal (PGM) on the boil.

Used mainly in emissions-reducing auto-catalysts for motor vehicles, palladium has gained some 7% YTD to hit a record $1,150.50 oz Tuesday, less than $100 away from the price of gold.

On the technical’s: charts show the metal has moved into overbought territory, indicating a possible correction

Energy: Brent Crude closed down 4.3% and WTI Crude dropped 4.3% in Tuesday’s US session

Front-month ICE Brent Crude Oil futures (LCOc1) were at $76.76 bbl at 0452 GMT, +32c, or 0.4%, above their last close.

NYMEX WTI Crude Oil futures (CLc1) were at $66.58 bbl, + 15c or 0.2%, from their last settlement.

Saudi Energy Minister Khalid al-Falih said Tuesday that despite expected supply disruptions from US sanctions against Iran that kick in beginning on 4 November,  Saudi Arabia will step up to “meet any demand that materializes to ensure customers are satisfied”.

US Dollar (.DXY) Index down 0.2% at 95.86, .DXY briefly ticked above its October high at 96.16 early Tuesday, but it could not build on that gain. .DXY has faced selling pressure since early morning Tuesday, but it has kept losses in check thanks to rebounds, which followed each downdraft. .DXY marked a session low at 95.81)around 01:00p EDT, and a bit above that level Wednesday in Asia.

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil » 66.51 USD +0.08 +0.12% Nov 18 1:31AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
ICE Brent Crude » 76.70 USD +0.26 +0.34% Oct 18 1:32AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
NYMEX RBOB Gasoline » 1.84 USD +0.01 +0.28% Oct 18 1:26AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
Dubai Crude Spot » 74.92 USD +0.29 +0.39% Dec 02 1:41AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
ICE Gas Oil » 697.25 USD -5.25 -0.75% Nov 18 12:56AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
NYMEX No2 Heating Oil » 2.25 USD +0.00 +0.18% Oct 18 1:29AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
NYMEX Nat Gas » 3.22 USD +0.01 +0.28% Oct 18 1:31AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
ICE NBP Nat Gas » 69.30 GBP +0.00 0.00% Oct 18 7:00PM EDT

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot » 1,232.71USD +2.54 +0.21% Dec 02 1:48AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
COMEX 100oz Gold » 1,231.50USD -1.90 -0.15% Oct 18 11:41PM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
Silver Spot » 14.74USD +0.01 +0.09% Dec 02 1:48AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
Platinum Spot » 832.10USD +1.60 +0.19% Dec 02 1:48AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
Palladium Spot » 1,140.00USD -0.50 -0.04% Dec 02 1:48AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
COMEX Copper » 2.75USD +0.00 +0.09% Oct 18 9:40PM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn » 368.75USC -1.50 -0.41% Dec 18 1:44AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
CBOT Wheat » 506.75USC -2.25 -0.44% Dec 18 1:44AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
KCBT Wheat » 505.25USC -2.25 -0.45% Dec 18 1:36AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
MGE Spring Wheat » 585.00USC +0.00 0.00% Dec 18 1:40AM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
Euronext Milling Wheat » 201.00EUR +0.00 0.00% Dec 18 12:29PM EDT 
								Gold Higher, USD Lower, Stocks Mixed to Lower  + Commodities
CBOT Soybeans » 856.00USC -1.50 -0.18% Nov 18 1:44AM EDT

Stay tuned…

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