Kaloti Precious Metals-Morning Market Report-Thursday, November 03, 2016-Shanghai Metals Market

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Kaloti Precious Metals-Morning Market Report-Thursday, November 03, 2016

Industry News 01:35:47PM Nov 03, 2016 Source:scrapmonster

By 

Fear of Trump Pushes Gold above $1,300 as Investors Seek Haven.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

03/11/2016

 

02/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 02.00

 

$1,288.32

 

$18.36

 

$992.04

$621.46

 

 

High Bid

 

$1,307.80

 

$18.74

 

$1,002.86

$636.65

 

 

Low Offer

 

$1,287.46

 

$18.35

 

$984.48

$619.54

 

 

Close At 01.15

 

$1,296.81

 

$18.48

 

$991.03

$633.45

 

 

Previous Close

 

$1,288.20

 

$18.36

 

$992.05

$621.46

 

 

Daily Change USD

$8.61

 

$0.12

 

($1.02)

$11.99

 

 

Daily Change %

 

0.66%

 

0.65%

 

-0.10%

1.89%

 

 

London Fixings

AM

$1,295.85

 

**

 

 

$991.00

$630.00

 

 

 

PM

$1,303.75

 

$18.54

 

$994.00

$635.00

 

 

COMEX Trading Volume

$225,688.00

 

$77,098.00

 

$15,486.00

$3,349.00

 

 

Active Month Settlement

$1,308.20

 

$18.69

 

$1,001.80

$634.50

 

 

Previous Session

 

$1,288.00

 

$18.41

 

$997.90

$634.10

 

 

Daily Change

 

$20.20

 

$0.28

 

$3.90

$0.40

 

 

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

 

0.53044

 

0.88094

 

1.25656

1.57567

 

 

Gold ATM Vols

 

16.575

 

15.735

 

16.065

16.8

 

 

Silver ATM Vols

 

26.153

 

25.595

 

25.938

26.65

 

 

Platinum ATM Vols

20.750

 

28.800

 

18.000

18.250

 

 

Palladium ATM Vols

25.500

 

26.000

 

25.500

26.100

 

 

Market Daily & Weekly

 

Market Snap Shot

 

02/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,296.81

 

0.66

2.29

 

 

XAG

 

 

$18.48

 

 

0.65

4.65

 

 

XPT

 

 

$991.03

 

-0.10

2.84

 

 

XPD

 

 

$633.45

 

1.89

1.88

 

 

Euro

 

 

1.1098

 

 

0.39

1.94

 

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

Fundamentals and News

Fear of Trump Pushes Gold above $1,300 as Investors Seek Haven

Donald Trump’s improving odds in the U.S. presidential race are causing jitters in the market, prompting investors to seek safety in gold.

Bullion surged above $1,300 an ounce for the first time in almost a month after polls showed Trump gaining ground in next week’s elections, spurring a sell-off in world equities and industrial metals and weakening the dollar. Trump ledHillary Clinton by one point in an ABC News/Washington Post tracking poll on Tuesday, while a Bloomberg survey of independents gave Clinton a slim advantage.

Gold has rebounded from a four-month low in October as political and economic uncertainty outweighed expectations of a Federal Reserve interest rate increase. In advance of an announcement from Fed policy makers Wednesday afternoon, traders were pricing in a 67 percent chance that U.S. borrowing costs will go up next month. Higher borrowing costs curb the appeal of non-interest bearing gold.

“There’s nervousness in the market over a Trump win and that’s driving gold higher,” James Cordier, the founder of Optionsellers.com in Tampa, Florida, said in a telephone interview. “What usually happens is the candidate with the most momentum at the end is the one who wins and Trump definitely has momentum right now. It’s not what the market has been factoring in for the last 60 days.”

Gold futures for December delivery gained 1.6 percent to settle at $1,308.20 an ounce at 1:41 p.m. on the Comex in New York, the highest close since Oct. 3. Silver futures advanced 1.5 percent on the Comex.

Bullion’s rise has been boosted by Friday’s news that FBI Director James Comey had alerted members of Congress that agents had discovered a new batch of e-mails that could be part of an earlier investigation into Clinton’s use of a private e-mail system while she was secretary of state.

Investors boosted their holdings of exchange-traded funds backed by gold for a fourth straight session Tuesday to 2,042.9 metric tons, near the highest since 2013, data compiled by Bloomberg show.

The Bloomberg Industrial Metals Subindex fell after seven straight sessions of gains that was the longest streak since March.

“What we’re seeing today is very much a safe haven trade with commodities getting hit hard,”said Naeem Aslam, chief market analyst at Think Markets U.K. Ltd. in London. “We had good numbers from China yesterday but that’s now been overshadowed by the risk of a Trump presidency, which hadn’t been priced in.”

A group of 370 economists including several Nobel Prize winners released a letter Tuesday saying Trump is a “destructive choice for the country” as he “promotes magical thinking and conspiracy theories over sober assessments of feasible economic policy options.” Peter Navarro, Trump’s economic adviser and a University of California at Irvine economist, said the letter was “an embarrassment to the corporate offshoring wing of the economist profession” and added that Trump’s economic plan would boost growth.

Data Forthcoming Releases

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

4:00pm

GBP

Official Bank Rate

0.25%

0.25%

 

4:30pm

GBP

BOE Gov Carney Speaks

 

 

 

4:30pm

USD

Unemployment Claims

257k

258k

 

6:00pm

USD

ISM Non-Manufacturing PMI

56.2

57.1

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-3rd-november-2016

Key Words:  Precious Metals 

Price

more
Gold(99.99%)
Apr.19
279.4
1.3
(0.48%)
Gold(99.95%)
Apr.19
279.5
0.9
(0.33%)
#1 Silver(99.99%)
Apr.19
3511.0
10.0
(0.29%)
Silver(99.95%)
Apr.19
3496.0
10.0
(0.29%)
Silver(99.90%)
Apr.19
3481.0
10.0
(0.29%)

Kaloti Precious Metals-Morning Market Report-Thursday, November 03, 2016

Industry News 01:35:47PM Nov 03, 2016 Source:scrapmonster

By 

Fear of Trump Pushes Gold above $1,300 as Investors Seek Haven.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

03/11/2016

 

02/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 02.00

 

$1,288.32

 

$18.36

 

$992.04

$621.46

 

 

High Bid

 

$1,307.80

 

$18.74

 

$1,002.86

$636.65

 

 

Low Offer

 

$1,287.46

 

$18.35

 

$984.48

$619.54

 

 

Close At 01.15

 

$1,296.81

 

$18.48

 

$991.03

$633.45

 

 

Previous Close

 

$1,288.20

 

$18.36

 

$992.05

$621.46

 

 

Daily Change USD

$8.61

 

$0.12

 

($1.02)

$11.99

 

 

Daily Change %

 

0.66%

 

0.65%

 

-0.10%

1.89%

 

 

London Fixings

AM

$1,295.85

 

**

 

 

$991.00

$630.00

 

 

 

PM

$1,303.75

 

$18.54

 

$994.00

$635.00

 

 

COMEX Trading Volume

$225,688.00

 

$77,098.00

 

$15,486.00

$3,349.00

 

 

Active Month Settlement

$1,308.20

 

$18.69

 

$1,001.80

$634.50

 

 

Previous Session

 

$1,288.00

 

$18.41

 

$997.90

$634.10

 

 

Daily Change

 

$20.20

 

$0.28

 

$3.90

$0.40

 

 

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

 

0.53044

 

0.88094

 

1.25656

1.57567

 

 

Gold ATM Vols

 

16.575

 

15.735

 

16.065

16.8

 

 

Silver ATM Vols

 

26.153

 

25.595

 

25.938

26.65

 

 

Platinum ATM Vols

20.750

 

28.800

 

18.000

18.250

 

 

Palladium ATM Vols

25.500

 

26.000

 

25.500

26.100

 

 

Market Daily & Weekly

 

Market Snap Shot

 

02/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,296.81

 

0.66

2.29

 

 

XAG

 

 

$18.48

 

 

0.65

4.65

 

 

XPT

 

 

$991.03

 

-0.10

2.84

 

 

XPD

 

 

$633.45

 

1.89

1.88

 

 

Euro

 

 

1.1098

 

 

0.39

1.94

 

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

Fundamentals and News

Fear of Trump Pushes Gold above $1,300 as Investors Seek Haven

Donald Trump’s improving odds in the U.S. presidential race are causing jitters in the market, prompting investors to seek safety in gold.

Bullion surged above $1,300 an ounce for the first time in almost a month after polls showed Trump gaining ground in next week’s elections, spurring a sell-off in world equities and industrial metals and weakening the dollar. Trump ledHillary Clinton by one point in an ABC News/Washington Post tracking poll on Tuesday, while a Bloomberg survey of independents gave Clinton a slim advantage.

Gold has rebounded from a four-month low in October as political and economic uncertainty outweighed expectations of a Federal Reserve interest rate increase. In advance of an announcement from Fed policy makers Wednesday afternoon, traders were pricing in a 67 percent chance that U.S. borrowing costs will go up next month. Higher borrowing costs curb the appeal of non-interest bearing gold.

“There’s nervousness in the market over a Trump win and that’s driving gold higher,” James Cordier, the founder of Optionsellers.com in Tampa, Florida, said in a telephone interview. “What usually happens is the candidate with the most momentum at the end is the one who wins and Trump definitely has momentum right now. It’s not what the market has been factoring in for the last 60 days.”

Gold futures for December delivery gained 1.6 percent to settle at $1,308.20 an ounce at 1:41 p.m. on the Comex in New York, the highest close since Oct. 3. Silver futures advanced 1.5 percent on the Comex.

Bullion’s rise has been boosted by Friday’s news that FBI Director James Comey had alerted members of Congress that agents had discovered a new batch of e-mails that could be part of an earlier investigation into Clinton’s use of a private e-mail system while she was secretary of state.

Investors boosted their holdings of exchange-traded funds backed by gold for a fourth straight session Tuesday to 2,042.9 metric tons, near the highest since 2013, data compiled by Bloomberg show.

The Bloomberg Industrial Metals Subindex fell after seven straight sessions of gains that was the longest streak since March.

“What we’re seeing today is very much a safe haven trade with commodities getting hit hard,”said Naeem Aslam, chief market analyst at Think Markets U.K. Ltd. in London. “We had good numbers from China yesterday but that’s now been overshadowed by the risk of a Trump presidency, which hadn’t been priced in.”

A group of 370 economists including several Nobel Prize winners released a letter Tuesday saying Trump is a “destructive choice for the country” as he “promotes magical thinking and conspiracy theories over sober assessments of feasible economic policy options.” Peter Navarro, Trump’s economic adviser and a University of California at Irvine economist, said the letter was “an embarrassment to the corporate offshoring wing of the economist profession” and added that Trump’s economic plan would boost growth.

Data Forthcoming Releases

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

4:00pm

GBP

Official Bank Rate

0.25%

0.25%

 

4:30pm

GBP

BOE Gov Carney Speaks

 

 

 

4:30pm

USD

Unemployment Claims

257k

258k

 

6:00pm

USD

ISM Non-Manufacturing PMI

56.2

57.1

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-3rd-november-2016

Key Words:  Precious Metals