By Carolina Curiel
ScrapMonster Author
Gold Slides Below $1,200 in Longest Losing Run Since October
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OTC Trading Range For |
All Times Are |
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As Per Dubai |
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Date |
10/03/2017 |
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09/03/2017 |
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Gold |
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Silver |
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Platinum |
Palladium |
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Open At 03.00 |
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$1,208.31 |
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$17.23 |
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$946.71 |
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$771.44 |
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High Bid |
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$1,209.09 |
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$17.29 |
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$952.80 |
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$771.92 |
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Low Offer |
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$1,199.35 |
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$16.93 |
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$934.52 |
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$747.46 |
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Close At 02.00 |
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$1,201.24 |
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$16.96 |
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$935.25 |
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$747.92 |
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Previous Close |
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$1,208.31 |
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$17.23 |
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$946.75 |
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$770.51 |
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Daily Change USD |
($7.07) |
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($0.27) |
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($11.50) |
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($22.59) |
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Daily Change % |
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-0.59% |
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-1.59% |
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-1.23% |
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-3.02% |
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London Fixings |
AM |
$1,204.60 |
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** |
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$948.00 |
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$759.00 |
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PM |
$1,206.55 |
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$17.14 |
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$944.00 |
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$754.00 |
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COMEX Trading Volume |
227016 |
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65979 |
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20876 |
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7313 |
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Active Month Settlement |
$1,203.20 |
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$17.03 |
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$937.20 |
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$748.05 |
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Previous Session |
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$1,209.40 |
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$17.29 |
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$949.50 |
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$770.40 |
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Daily Change |
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($6.20) |
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($0.26) |
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($12.30) |
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($22.35) |
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EFP's |
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1.4/1.7 |
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4/7 |
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0/2 |
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0/1 |
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Forwards & Options |
1 Month |
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3 months |
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6 months |
12 months |
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GOFO |
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- |
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- |
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- |
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- |
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USD LIBOR |
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0.85778 |
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1.109 |
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1.42100 |
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1.80122 |
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Gold ATM Vols |
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11.940 |
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13.340 |
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14.229 |
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15.42 |
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Silver ATM Vols |
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20.07 |
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21.37 |
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22.57 |
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23.81 |
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Platinum ATM Vols |
17.850 |
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17.200 |
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17.400 |
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17.500 |
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Palladium ATM Vols |
27.000 |
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25.750 |
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25.500 |
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25.500 |
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Market Daily & Weekly
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Market Snap Shot |
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09/03/2017 |
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1 Day% |
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1 Week % |
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XAU |
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$1,201.24 |
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-0.59 |
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-2.75 |
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XAG |
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$16.96 |
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-1.59 |
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-4.78 |
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XPT |
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$935.25 |
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-1.23 |
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-5.64 |
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XPD |
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$747.92 |
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-3.02 |
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-2.59 |
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Euro |
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1.0577 |
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0.34 |
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0.66 |
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Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
Gold Slides Below $1,200 in Longest Losing Run Since October
- Gold dipped below $1,200 an ounce in its longest losing run since October as positive U.S. economic figures reinforce expectations that yields on other investments will rise this year.
- Bullion for immediate delivery fell as much as 0.7 percent to $1,199.35, the lowest since Feb. 1, and settled at $1,201.24, according to Bloomberg generic pricing. The metal slid Thursday for a fourth day as yields on 10-year Treasuries extended gains.
- The precious metal has been hit by Federal Reserve officials including Chair Janet Yellen talking up the prospect of higher rates this month. Better-than-expected U.S. private jobs data this week also boosted the dollar before official payrolls figures on Friday. A stronger dollar makes gold costlier for those with other currencies.
- “If the data continues to be as good as it was, or improves, we could see the Fed move toward further hawkishness," said Brad Yates, head of trading for Elemetal, one of the biggest U.S. gold refiners. “That could hurt gold.”
- After the Fed raised rates once in 2015 and again in 2016, the pace may quicken this year.
- The so-called dot plot illustrating policy makers’ projections suggests three increases this year. While economists see U.S. non-farm payrolls declining, possibly supporting gold, their projections have underestimated employment growth in February for five years in a row.
- In other precious metals:
- Gold and silver futures fell on the Comex, while platinum and palladium slid on the New York Mercantile Exchange.
- The World Platinum Investment Council raised its 2017 platinum supply deficit to 120,000 ounces from 100,000 ounces on a resilient car market. The metal is used in auto-catalysts that help remove pollutants from vehicle exhaust.
Data Forthcoming Releases
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Time |
Country |
Today's Events |
Forecast |
Previous |
Actual |
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5:30pm |
CAD |
Employment Change |
-4.8k |
48.3k |
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5:30pm |
CAD |
Unemployment Rate |
6.8% |
6.8% |
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5:30pm |
USD |
Average Hourly Earnings m/m |
0.3% |
0.1% |
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5:30pm |
USD |
Non-Farm Employment Change |
200k |
227k |
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5:30pm |
USD |
Unemployment Rate |
4.7% |
4.8% |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-10th-march-2017-2
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