Oil prices rise 1 percent as stocks markets steady- 12 Feb 2018 ~ commodity expert

Gold Prices Gain In Asia With Chinese New Year Trade In Focus - Gold prices gained in Asia on Monday with financial markets in Japan will be closed for a holiday and demand eyed in greater China watched with the Lunar New Year holidays set to kick off this week. Investors this week are watching inflation readings from the U.S., UK and Germany. Last week, gold prices edged lower on Friday in what was a fifth day of declines in the last six sessions as the stronger dollar weighed on the precious metal, making it more expensive for holders of other currencies. The dollar was supported by increased safe haven demand from investors amid dramatic moves in the equities and bond markets. U.S. stocks ended higher on Friday, but still suffered their steepest weekly losses in more than two years. Market turbulence has been triggered by speculation that the Federal Reserve may raise interest rates at a faster rate than had been expected amid signs of a pickup in inflation. Expectations for higher interest rates are typically negative for gold as the precious metal struggles to compete with yield-bearing assets like Treasury’s when borrowing costs rise.

Oil prices rise 1 percent as stocks markets steady - Oil prices rose by 1 percent on Monday, recovering at least some of last week's steep losses as Asian stock markets found their footing after days of chaotic trading. Looming over oil markets, however, was rising production in the United States which is undermining efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to tighten markets and prop up prices.The firmer prices came after crude registered its biggest loss in two years last week as stock markets slumped. But with U.S. stock markets rebounding on Friday and Asian markets seemingly steadying on Monday, analysts said crude was also supported. "The bounce in U.S. stocks means some catch-up is possible (for oil)," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. McKenna said markets on Monday were quiet as "the incentive for traders in Australia or Asia to do anything without the lead of the U.S. is likely to be lacking," referring to recent U.S. stock market volatility.

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