|Day's range||1,253.20 - 1,256.60|
Based on last week’s close at .7187, the direction of the AUD/USD this week is likely to be determined by trader reaction to the 50% level at .7207.
The sudden price rise surprised them," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the eastern Indian city of Kolkata. Local gold prices have risen nearly 3 percent so far this week following gains in the overseas market and on a depreciation in the rupee. Dealers in India were offering a discount of up to $1.5 an ounce over official domestic prices this week, compared to a premium of $2 in the previous week.
Gold was supported on Thursday after the Wall Street Journal reported that Federal Reserve officials were considering whether to signal a new wait-and-see approach after its widely expected rate hike in December.
Investing.com - Gold prices gained while the dollar was flat on Friday in Asia after Federal Reserve chairman Jerome Powell delivered a bullish assessment of the U.S. economy on Thursday.
Investing.com - At any other time, a 7-million-barrel weekly draw and the first record exports in U.S. crude might have sent oil prices rocketing. But not when the Russians are maintaining an elegant silence on production cuts that has OPEC and oil-dependent economies all over at their mercy.
NEW YORK (Reuters) - Stock markets around the world sank on Thursday as the arrest of a top Chinese technology executive threatened to strain an already brittle U.S.-China trade relationship, while oil prices fell after OPEC delayed an output decision.
Based on the current price at $50.94, the direction of the January WTI crude oil futures contract into the close will be determined by trader reaction to the pivot at $51.98.
Venezuela has signed deals securing investment from Russia in the South American country's oil and gold sectors, President Nicolas Maduro said on Thursday at the end of a three-day trip to Moscow. "We have signed contracts to guarantee investments of more than $5 billion with our Russian partners in joint ventures to raise oil production," Maduro said in a video posted on his Twitter account. Maduro did not provide specifics about where the investments would be made or how much money Russian companies would contribute.
Based on the earlier price action and the current price at 6713.00, the direction of the December E-mini NASDAQ-100 Index the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 6713.00.
Buying sentiment towards the Dollar deteriorated earlier in the week after an inversion of the U.S Treasury yield curve sparked concerns over the US economy potentially entering a recession
Yellow metal gains as US Dollar is starting to lose its place as safe haven asset among global investors while increasing risk aversion has resulted in fund flow move towards most reliance recession proof asset in history – Gold
Based on the early price action, the direction of the January WTI crude oil futures contract on Thursday is likely to be determined by trader reaction to the short-term pivot at $51.98.
Based on the pair of inside days, we have to conclude that the direction of the December Comex gold market on Thursday is likely to be determined by trader reaction to Tuesday’s high at $1247.50 and its low at $1235.80.
Based on the early price action and the current price at .7228, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the main 50% level at .7252.
OPEC's de facto leader, Saudi Arabia, has indicated a need for steep output reductions from January, fearing a glut, but Russia has resisted a large cut. "All of us including Russia agreed there is a need for a reduction," Oman's Oil Minister Mohammed bin Hamad Al-Rumhy told reporters after a ministerial committee that groups Saudi Arabia, Russia and several other producers met on Wednesday. Two OPEC delegates said Russian Energy Minister Alexander Novak was flying back to Moscow on Wednesday to get a final agreement from President Vladimir Putin.
Natural gas prices edged slightly higher on low volume on Wednesday forming an inside day which is a higher low and a lower high which is generally a sign of indecision. However, prices rallied nearly 4%, following Monday’s slide. Support increased slightly this past week while demand where flat. Trader’s await the energy departments release of US stockpiles which is expected to show a decline of 58 Bcf according to estimize.Technical Analysis
With derivative contracts and U.S. plays??? low break-even oil price, some oil producers are immune, to some extent, even if OPEC & allies decide against production cut.
OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC's de facto leader, Saudi Arabia, has indicated a need for steep output reductions from January, fearing a glut, but Russia has resisted a large cut.
Investing.com - Oil prices fell on Wednesday morning in Asia following threats from Iran that it would disrupt oil shipments in the Gulf, which added to uncertainties ahead of the upcoming OPEC output meeting.