Gold Lower, USD Higher, Stocks Higher  + Commodities

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								Gold Lower, USD Higher, Stocks Higher  + Commodities

Gold Lower, USD Higher, Stocks Higher  + Commodities

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

  • Gold Coming Off of 3 Month Highs
  • US Dollar (.DXY) Index Higher
  • Crude Oils Prices Up
  • Asian Stocks Higher
  • Traders eye US Economic Data
  • Traders eye US Earnings Data

In Asia

Gold prices fell to a more than 2-week low Wednesday as Asian stocks gained and the USD touched multi-month highs on upbeat US economic data.

The precious Yellow metal on track to end a 6-month losing streak, the longest since a frame that finished in early Y 1997.

Spot gold was 0.4% lower at $1,217.26 oz at 0419 GMT, having touched its lowest since 12 October at $1,215.35 earlier in the session. It has risen about 2.4% so far in October, the biggest monthly gainer since January.

US gold futures (GCcv1) fell 0.5% to $1,219.3 oz.

USD: A stronger USD and a recovery in equities are putting pressure on gold today. The USD hangs near 16-month highs Vs a basket of 6 peers after gaining overnight as traders bet on the relative outperformance of the US economy and continued rate increases by the Fed.

Gold prices have slipped about 11% from their April highs as investors turned to USD as a safe-haven as the trade disputes unfolded against a backdrop of higher US interest rates.

A stronger Buck makes USD-denominated bullion more expensive for users of other currencies while higher interest rates reduce the attraction of non-yielding gold.

Other precious metals

Silver was down 0.4% at $14.40 per ounce after touching more than 2-week low at $14.31.

Platinum rose 0.1% to $833.10 oz, while Palladium rose 0.4% to $1,076.99 oz.

Energy:  Crude Oil prices climbed for the 1st time in 3 days Wednesday, but rising supply and fears over the outlook for demand amid the US-China trade dispute keeping pressure on the market.

ICE Brent Crude Oil futures gained 47c, or 0.6%, to $76.38 bbll by 0441 GMT.

NYMEX WTI Crude Oil futures +16c, or 0.2%, to $66.34 bbl Wednesday.

Both Crude Oil benchmarks have fallen about $10 bbl from 4-year highs reached in the 1st week of October, and are on track to post their worst monthly performance since July 2016.

In a Bearish signal, the American Petroleum Institute (API) reported US Crude Oil inventories rose 5.7-M bbls last week, more than analyst forecasts for a 4.1-M-bbl build.

Investors will look to official government data on US inventories due Wednesday.

Stocks: Asian stocks pulled away from 20-month lows Wednesday, thanks to the rally on Wall Street, although investors remain cautious.

Commodities

Commodities: Energy

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil » 66.35 USD +0.17 +0.26% Nov 18 12:44AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
ICE Brent Crude » 76.38 USD +0.47 +0.62% Oct 18 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
NYMEX RBOB Gasoline » 1.82 USD +0.01 +0.64% Oct 18 9:15PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
Dubai Crude Spot » 74.79 USD -0.09 -0.12% Dec 02 12:53AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
ICE Gas Oil » 703.50 USD +1.75 +0.25% Nov 18 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
NYMEX No2 Heating Oil » 2.27 USD +0.01 +0.34% Oct 18 10:47PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
NYMEX Nat Gas » 3.23 USD +0.05 +1.48% Nov 18 12:44AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
ICE NBP Nat Gas » 68.67 GBP +0.00 0.00% Nov 18 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities

Commodities: Metals

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
Gold Spot » 1,217.91USD -4.68 -0.38% Dec 02 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
COMEX 100oz Gold » 1,216.00USD -6.60 -0.54% Nov 18 1:08AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
Silver Spot » 14.41USD -0.03 -0.19% Dec 02 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
Platinum Spot » 831.24USD -1.26 -0.15% Dec 02 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
Palladium Spot » 1,079.80USD +6.80 +0.63% Dec 02 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
COMEX Copper » 2.66USD +0.00 +0.08% Nov 18 12:32AM EDT

Commodities: Agriculture Grains

COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
CBOT Corn » 364.50USC -0.25 -0.07% Dec 18 1:31AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
CBOT Wheat » 499.25USC -0.50 -0.10% Dec 18 1:39AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
KCBT Wheat » 494.50USC -0.25 -0.05% Dec 18 1:00AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
MGE Spring Wheat » 571.00USC -0.50 -0.09% Dec 18 1:00AM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
Euronext Milling Wheat » 198.75EUR +0.00 0.00% Dec 18 8:00PM EDT 
								Gold Lower, USD Higher, Stocks Higher  + Commodities
CBOT Soybean » 835.75USC +2.25 +0.27% Nov 18 12:59AM EDT

Stay tuned…

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