Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Government / Politics
Growth Stumbling But Central Bank Arsenals are Near Empty
Gold Silver Reports – Global economic growth is slowing, according to the International Monetary Fund, policymakers and hundreds of economists polled by Reuters – but that downturn is coming at a time when central banks’ arsenals are running on empty.
‘No-deal’ Would Prevail if UK’s Brexit plan Unclear by Next Week: France
Gold Silver Reports (GSR) – Britain would only be granted an extension to the Article 50 Brexit negotiation period if its parliament passed the deal on the table or if a clear alternative plan emerged by next week’s EU summit, a French official said on Friday.
Crude Oil Kiss 3 Month High on OPEC Cuts
Gold Silver Reports (GSR) – Crude Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela.
China-U.S. Trade Talks ‘Making a Final Sprint’: State Media
Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress.
Gold Steady as Sino-U.S. Trade Hopes Drag Dollar
U.S. and Chinese officials expressed hopes that a new round of trade talks, which began in Beijing on Monday, would bring them closer to easing their nearly year-long trade war.
Crude Oil prices Rise on OPEC Output Cuts, as U.S. Sanctions Bite
Gold Silver Reports (GSR) – The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.
Gold Prices Hold Firm on Trade, Growth Concerns
Gold Silver Reports (GSR) – FUNDAMENTALS — Scrap gold supplies in India, the world’s second-biggest consumer of bullion, may increase this quarter as a rally in local gold prices has prompted consumers to sell old trinkets and jewellery.
Fed’s Kashkari says Powell is ‘coming around’ to his Dovish view
Gold Silver Reports (GSR) — Fed’s Kashkari: Rate hike pause keeps U.S. growth on track — The Federal Reserve’s decision to stop raising interest rates puts a “fundamentally healthy” U.S. economy on track to further growth, Minneapolis Federal Reserve Bank President Neel Kashkari suggested on Sunday.
Spot Gold Technical Report – Break Support $1280 – Neal Bhai
Gold Silver Reports (GSR) – Also supporting gold was a prolonged partial U.S. government shutdown and expectations that the Federal Reserve will hold its multi-year rate hike cycle, analysts said.