Markets

COMMODITIES - Gold May Rise on US Data, Oil Eyes Inventory Report

Gold may rise with the S&P 500 as economic data hints the US economy continued to improve in October. Crude oil looks to inventory figures for direction.

Talking Points

  • Gold, Silver May Rise with Stocks as Richmond Fed Survey Buoys Sentiment
  • Copper Technical Setup Boosts Likelihood of Bounce with Overall Risk Trends
  • Crude Oil Continues to Carve its Own Path, API Inventory Report in Focus

Commodity prices continue to look toward US event risk for direction cues as traders weigh the ability of a cautious pickup in North America to offset sluggish performance in Europe and Asia. On the economic data front, the focus is on the Richmond Fed manufacturing activity gauge. Expectations call for an improvement in October, hinting the positive cues seen in September's releases are carrying forward. Turning to the earnings docket, cycle-sensitive names with a global footprint including United Parcel Service, EI du Pont de Nemours and Ryder System are in focus as markets continue to fine-tune their global growth outlook.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities