Morning Update

  • Gold is heading for solid year-end close, stays above $1510 an ounce.
  • Crude oil remains at 3-month high, underpinned by the larger than expected US stocks draw, Widening OPEC+ Supply cut and the first round of trade accord between U.S. and China.
  • US oil rigs counts fell by 8 to 677 units last week, lowest since November 15, Baker Hughes reported.  U.S. oil rig count down 208 for the year, its first annual decline since 2016.
  • Base Metals continues its lull trades, witnessed in most of December.