WEAT - Commodity Roundup: Oil set for weekly gain Gold steady with eyes on inflation

2023-12-22 06:21:58 ET

Brent Oil ( CO1:COM ) prices advanced for a sixth consecutive session Friday, while Crude Oil ( CL1:COM ) is up for a second day amid Red Sea tensions and as markets looked past Angola's exit from OPEC following a dispute with the cartel about oil-production quotas.

Both the benchmarks rose around 0.80% on Friday and are set to end week on positive note on concerns over global trade disruption, as the biggest shipping companies avoid one of the world's busiest shipping lanes.

Natural Gas ( NG1:COM ) extends gain for a second day after closing almost 7% higher yesterday following a decline in natural gas inventory .

In the precious metals market, gold, silver, and palladium ticked up helped by a softer dollar ( DXY ), while investors broadly await U.S. inflation data due later today after the U.S. Federal Reserve's latest dovish transition.

Spot gold ( XAUUSD:CUR ) was up +0.48% to $2,055.27 by 5:50?am ET. signaling strong physical buying.

Recent Commodity Price Movements

• Energy

  • WTI Crude Oil ( CL1:COM ) +0.76% to $74.45.

  • Natural Gas ( NG1:COM ) +1.43% to $2.61.

  Metals

  • Palladium ( XPDUSD:CUR ) +0.50% to $1,219.85.

  • Silver ( XAGUSD:CUR ) +34% to  $24.46.
  • Copper ( HG1:COM ) -0.45% to $3.89.

  Agriculture

  • Corn ( C_1:COM ) +0.24% to $473.62.
  • Wheat ( W_1:COM ) +0.18% to $613.58.
  • Soybeans ( S_1:COM ) +0.21% to $1,300.00.

  Commodity ETFs

  Gold ETFs:

  • SPDR Gold Shares ETF ( GLD )
  • VanEck Gold Miners ETF ( GDX )
  • VanEck Junior Gold Miners ETF ( GDXJ )
  • iShares Gold Trust ETF ( IAU )
  • Direxion Daily Gold Miners Index Bull 2X Shares ETF ( NUGT )
  • Sprott Physical Gold Trust ( PHYS )

  Other Metal ETFs:

  • iShares Silver Trust ETF ( SLV )
  • Sprott Physical Silver Trust ( PSLV )
  • Global X Silver Miners ETF ( SIL )
  • U.S. Copper Index Fund, LP ETF ( CPER )
  • abrdn Physical Palladium Shares ETF ( PALL )

  Oil ETFs:

  • U.S. Oil Fund, LP ETF ( USO )
  • Invesco DB Oil Fund ETF ( DBO )
  • U.S. 12 Month Oil Fund, LP ETF ( USL )
  • U.S. Brent Oil Fund, LP ETF ( BNO )
  • U.S. Natural Gas Fund, LP ETF ( UNG )
  • U.S. Gasoline Fund, LP ETF ( UGA )

  Agriculture ETFs:

  • Invesco DB Agriculture Fund ETF ( DBA )
  • Teucrium Soybean ETF ( SOYB )
  • Teucrium Wheat ETF ( WEAT )
  • Teucrium Corn Fund ETF ( CORN )

For further details see: