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Kaloti Precious Metals-Morning Market Report-Monday, October 31, 2016
Oct 31,2016 19:31CST
industry news
Gold Rallies to Three-Week High After FBI Reopens Clinton Probe.

By 

ScrapMonster Author

Gold Rallies to Three-Week High After FBI Reopens Clinton Probe.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

31/10/2016

 

30/10/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 02.00

 

$1,268.40

 

$17.62

 

$964.32

$613.36

 

 

High Bid

 

$1,284.20

 

$17.91

 

$987.70

$623.46

 

 

Low Offer

 

$1,262.02

 

$17.55

 

$963.47

$611.76

 

 

Close At 01.15

 

$1,275.47

 

$17.75

 

$980.60

$620.49

 

 

Previous Close

 

$1,268.40

 

$17.62

 

$964.30

$613.29

 

 

Daily Change USD

$7.07

 

$0.13

 

$16.30

$7.20

 

 

Daily Change %

 

0.55%

 

0.73%

 

1.66%

1.16%

 

 

London Fixings

AM

$1,265.90

 

**

 

 

$965.00

$612.00

 

 

 

PM

$1,273.00

 

$17.61

 

$972.00

$616.00

 

 

COMEX Trading Volume

$232,893.00

 

$17.79

 

$15,826.00

$4,742.00

 

 

Active Month Settlement

$1,276.80

 

$17.79

 

$981.40

$616.35

 

 

Previous Session

 

$1,269.50

 

$17.63

 

$964.90

$613.20

 

 

Daily Change

 

$7.30

 

$0.16

 

$16.50

$3.15

 

 

EFP's

 

0.8/1.1

 

0/3

 

 

0/2

0/1

 

 

Forwards & Options

1 Month

 

3 months

 

6 months

12 months

 

 

GOFO

 

-

 

-

 

 

-

-

 

 

USD LIBOR

 

0.53267

 

0.88594

 

1.25822

1.58233

 

 

Gold ATM Vols

 

13.150

 

13.730

 

14.81

16.06

 

 

Silver ATM Vols

 

22.45

 

23.612

 

24.737

25.93

 

 

Platinum ATM Vols

18.750

 

17.750

 

17.750

18.250

 

 

Palladium ATM Vols

25.000

 

25.500

 

25.500

26.100

 

 

Market Daily & Weekly

 

Market Snap Shot

 

30/10/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,275.47

 

0.55

0.71

 

 

XAG

 

 

$17.75

 

 

0.73

1.18

 

 

XPT

 

 

$980.60

 

1.66

4.75

 

 

XPD

 

 

$620.49

 

1.16

-0.55

 

 

Euro

 

 

1.0985

 

 

0.80

0.92

 

Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai

Fundamentals and News

Gold Rallies to Three-Week High After FBI Reopens Clinton Probe

Gold futures rallied to a three-week high after the U.S. Federal Bureau of Investigation said it’s reopening an inquiry into Hillary Clinton’s use of private e-mail while secretary of state, boosting demand for the metal as a haven.

The politically explosive development comes less than two weeks before the presidential election. Clinton held an average four-point lead over Republican Donald J. Trump in polls that include independent candidates as of Friday, according to Real Clear Politics. Equities erased gains, and the dollar fell after the announcement.

Bullion futures for December delivery gained as much as 1.3 percent to $1,285.40 an ounce, the highest since Oct. 4, in electronic trading after the settlement. Before the FBI letter to Congress came out, futures had been stuckin a narrow trading range, with price swings measured by the 60-day historical volatility near the lowest in almost two years.

“It’s a bored market that found a driver,” said Tai Wong, the director of commodity products trading at BMO Capital Markets in New York. “One might consider this a cheap bet for a weekend surprise.”

The December contract settled at $1,276.80, or 0.6 percent higher than yesterday’s close, at 1:42 p.m. on the Comex in New York.

Bullion’s 25 percent first-half surge has fizzled on mounting expectation that the Federal Reserve will raise interest rates soon, reducing the appeal of owning non-yielding assets.

U.S. gross domestic product picked up in the third quarter after an uninspiring first half of the year as a build in inventories and a soybean-related jump in exports helped cushion softer household spending. While the U.S. posted its fastest growth in two years, the data failed to resolve the debate about whether the world’s largest economy is emerging from an extended funk.

 

Silver futures gained on the Comex while platinum and palladium futures rose on the New York Mercantile Exchange.

Data Forthcoming Releases

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

2:00pm

EUR

CPI Flash Estimate y/y

0.5%

0.4%

 

4:30pm

USD

Core PCE Price Index m/m

0.1%

0.2%

 

4:30pm

USD

Personal Spending m/m

0.5%

0.0%

 

5:45pm

USD

Chicago PMI

54.1

54.2

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-31st-october-2016

Gold

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