Pace Research Commodity Market Update

Gold Firm As Dollar, Equities Slip Ahead Of Trump

Gold prices held firm on Thursday on the back of a weaker dollar as appetite for risky assets like equities waned ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart. Spot gold was mostly unchanged at $1,254.06 per ounce by 0324 GMT. U.S. gold futures climbed as much as 1 percent to $1,260.80 and were last up 0.6 percent at $1,256. Investors were cautious ahead of the meeting between Trump and Chinese President Xi Jinping due later on Thursday, the first between the world's two most powerful leaders.


Oil Eases Off One-Month High On Surprise U.S. Crude Build

Oil prices settled a shade firmer on Wednesday, easing from one-month highs, as support from an outage at the largest UK North Sea oilfield was offset by a surprise increase in U.S. crude inventories to a record high limited price gains. News of the unplanned outage of the 180,000-barrels-per-day Buzzard field in the North Sea had already began to support prices on Tuesday. Sources said the repairs would take one to two days. Prices, however, turned lower briefly on Wednesday after the U.S. government reported a rise in crude inventories of 1.6 million barrels last week. 

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