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CS MCX Commodity Evening mkt updates


Gold prices on Friday held on to gains from the previous session as investors remained cautious ahead of a U.S. jobs report, which could provide clues on the pace of further interest rate hikes. According to a Reuters survey of economists, non-farm payrolls probably rebounded by 190,000 jobs in October after Florence depressed restaurant and retail payrolls in September. In the wider markets, the dollar steadied on Friday after pulling back from 16-month highs in the previous session as investors cautiously moved back into riskier assets. Meanwhile, Asian shares jumped after the U.S. and Chinese presidents expressed optimism about resolving their bruising trade war, ahead of a high-stakes meeting planned at the end of November in Argentina MKTS/GLOB prices have slipped more than 9 percent from their April peak as investors turned to the dollar as a safe-haven with the trade war unfolding against a backdrop of higher U.S. interest rates. The metal was up about 4 percent for the week so far and was on track to mark its biggest weekly gain since the week ended Sept. 21.


Oil prices slipped further on Friday, heading for a weekly loss of more than 6 percent, after a report that Washington has granted several countries waivers on sanctions on Tehran, allowing them to continue to import Iranian crude. Global markets, including oil, were lifted earlier on Friday by hopes that the trade dispute between the world’s two biggest economies could be resolved soon. sentiment turned negative after a report that several governments received waivers that would allow them to import some Iranian crude once U.S. sanctions are imposed next week. The U.S. government has agreed to let eight countries, including close allies South Korea and Japan, as well as India, keep buying Iranian oil after it reimposes the sanctions, Bloomberg reported on Friday, citing a U.S. official. prices sold off sharply … on news that the U.S. administration would grant waivers for oil imports from Iran,” Goldman Sachs analysts said in a note to clients. A list of all countries getting waivers is expected to be released officially on Monday, several industry sources said.

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