Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Yen losing its charm.
- The risk aversion, which fueled yen’s rally, pushing the safe-haven currency from 112.1 per USD to 110.7 per USD on Friday.
- After U.S. economic advisor Larry Kudlow announced on Friday that a deal could be signed between the United States and China sometime in March or early April, the risk aversion started fading and U.S. stock recovered the majority of the Friday’s loss.
- The S&P500 future recovered in such a fashion that price action formed a hammer candle on Friday, which was a clear sign of fading sell-off.
Price actions since the Asian hours clearly suggesting fading risk aversion,
- Base metals are moving higher, with Zinc leading the way, and Tin being a drag.
|
Aluminum |
1,869.25 |
0.17% |
|
Zinc |
2,766.50 |
1.81% |
|
Lead |
2,117.00 |
1.30% |
|
Palladium |
1,472.05 |
0.89% |
|
Copper |
2.906 |
0.43% |
|
Nickel |
13,137.50 |
0.42% |
|
Copper |
6,419.00 |
0.34% |
|
Tin |
21,337.50 |
-0.15% |
- Energy prices are moving higher too.
|
Brent Oil |
66.34 |
0.91% |
|
Crude Oil WTI |
56.65 |
1.03% |
|
Gasoline RBOB |
1.8215 |
1.10% |
|
Heating Oil |
2.0039 |
0.21% |
|
London Gas Oil |
612.88 |
0.43% |
|
Natural Gas |
2.804 |
-2.13% |
- Stocks are higher for the day, too.
|
S&P 500 future |
2,753.00 |
0.03% |
|
Hang Seng |
28,508.50 |
0.99% |
|
S&P/ASX 200 |
6,180.20 |
-0.38% |
|
Nifty 50 |
11,163.00 |
1.16% |
As risk aversion fades, the yen is down 0.1 percent for the day. Further decline and the re-test of 112 area seems likely.
