Kaloti Precious Metals-Morning Market Report-Friday, November 18, 2016

Industry News 09:59:27AM Nov 21, 2016 Source:scrapmonster

By 

ScrapMonster Author

Gold-Fund Holdings Slide for Fifth Day as Rate Concerns Mount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

18/11/2016

 

17/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 03.00

 

$12,224.99

 

$16.97

 

$945.17

$718.40

 

 

High Bid

 

$1,231.52

 

$17.09

 

$651.20

$735.42

 

 

Low Offer

 

$1,211.13

 

$16.58

 

$933.00

$713.00

 

 

Close At 02.00

 

$1,216.42

 

$16.67

 

$933.85

$727.95

 

 

Previous Close

 

$1,224.99

 

$16.97

 

$945.08

$718.97

 

 

Daily Change USD

($8.57)

 

($0.30)

 

($11.23)

$8.98

 

 

Daily Change %

 

-0.70%

 

-1.80%

 

-1.20%

1.23%

 

 

London Fixings

AM

$1,232.00

 

**

 

 

$942.00

$717.00

 

 

 

PM

$1,226.75

 

$17.04

 

$935.00

$718.00

 

 

COMEX Trading Volume

$225,576.00

 

$69,696.00

 

$11,926.00

$6,250.00

 

 

Active Month Settlement

$1,216.90

 

$16.77

 

$945.10

$729.65

 

 

Previous Session

 

$1,223.90

 

$16.92

 

$946.50

$718.80

 

 

Daily Change

 

($7.00)

 

($0.15)

 

($1.40)

$10.85

 

 

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

 

0.55456

 

0.90872

 

1.27544

1.61178

 

 

Gold ATM Vols

 

14.450

 

14.330

 

15.318

16.17

 

 

Silver ATM Vols

 

25.872

 

24.882

 

25.818

26.23

 

 

Platinum ATM Vols

18.500

 

17.600

 

17.800

17.700

 

 

Palladium ATM Vols

28.000

 

25.450

 

25.850

25.700

 

 

Market Daily & Weekly

 

Market Snap Shot

 

17/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,216.42

 

-0.70

-3.52

 

 

XAG

 

 

$16.67

 

 

-1.80

-11.64

 

 

XPT

 

 

$933.85

 

-1.20

-4.44

 

 

XPD

 

 

$727.95

 

1.23

5.29

 

 

Euro

 

 

1.0626

 

 

-0.61

-2.51

 

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

Fundamentals and News

Gold-Fund Holdings Slide for Fifth Day as Rate Concerns Mount

 

Investors continued their exit from exchange-traded funds backed by gold as assets fell for a fifth day, the longest stretch this year.

Fund holdings dropped 3.6 metric tons to 1,949.1 tons, the lowest since July, according to data compiled by Bloomberg as of Wednesday.

 Investors including George Soros have pulled out of gold funds as the outlook for higher U.S. interest rates dents the metal’s appeal as a store of value.Donald Trump’s platform of fiscal stimulus and tax cuts bolsters the case for tighter monetary policy. Federal Reserve Chair Janet Yellen signaled Thursday that the central bank is close to lifting rates as the economy continues to strengthen.

The prospect for rising rates has “taken a little steam out of the market” in gold, Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey, said in a telephone interview. “We have had some high profile exits from the market. It’s an influence on everybody. Gold is dealing with a bit of liquidation from the ETFs.”

Gold futures for December delivery slipped 0.6 percent to settle at $1,216.90 at 1:48 p.m. on the Comex in New York, after swinging from a gain of 0.6 percent. Trading has calmed since last week’s thrashing after the U.S. election, which sent prices down 6.2 percent, the most since 2013. Prices are down 0.6 percent this week.

 “The market is taking a breath after the turmoil of the past week -- turmoil that was rather more favorable to risk assets,” said Jonathan Butler, a precious metals strategist at Mitsubishi Corp. in London.

 Traders see a rate increase as a near certainty when the Federal Open Market Committee meets next month, according to Fed funds futures. Higher rates make gold less competitive against interest-bearing assets.

 A rate hike “could well become appropriate relatively soon if incoming data provide some further evidence of continued progress toward the committee’s objectives,” Yellen said in the text of testimony she delivered Thursday in Washington before Congress’s Joint Economic Committee.

Silver futures also declined on the Comex. Platinum slid on the New York Mercantile Exchange, while palladium gained

 

Data Forthcoming Releases

 

Time

Country

 

Today's Events

Forecast

Previous

Actual

12:30pm

EUR

 

ECB President Draghi Speaks

 

 

 

 

5:30pm

CAD

 

Core CPI m/m

0.3%

0.2%

 

 

5:30pm

CAD

 

CPI m/m

0.2%

0.1%

 

 

6:30pm

USD

 

FOMC Member Dudley Speaks

 

 

 

 

6:30pm

USD

 

FOMC Member George Speaks

 

 

 

 

 

 

 

 

 

 

 

 

 

                   

Courtesy: http://kalotipm.com.sg/kaloti-market-report-18th-november-2016

Key Words:  Precious Metals 

Kaloti Precious Metals-Morning Market Report-Friday, November 18, 2016

Industry News 09:59:27AM Nov 21, 2016 Source:scrapmonster

By 

ScrapMonster Author

Gold-Fund Holdings Slide for Fifth Day as Rate Concerns Mount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

18/11/2016

 

17/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 03.00

 

$12,224.99

 

$16.97

 

$945.17

$718.40

 

 

High Bid

 

$1,231.52

 

$17.09

 

$651.20

$735.42

 

 

Low Offer

 

$1,211.13

 

$16.58

 

$933.00

$713.00

 

 

Close At 02.00

 

$1,216.42

 

$16.67

 

$933.85

$727.95

 

 

Previous Close

 

$1,224.99

 

$16.97

 

$945.08

$718.97

 

 

Daily Change USD

($8.57)

 

($0.30)

 

($11.23)

$8.98

 

 

Daily Change %

 

-0.70%

 

-1.80%

 

-1.20%

1.23%

 

 

London Fixings

AM

$1,232.00

 

**

 

 

$942.00

$717.00

 

 

 

PM

$1,226.75

 

$17.04

 

$935.00

$718.00

 

 

COMEX Trading Volume

$225,576.00

 

$69,696.00

 

$11,926.00

$6,250.00

 

 

Active Month Settlement

$1,216.90

 

$16.77

 

$945.10

$729.65

 

 

Previous Session

 

$1,223.90

 

$16.92

 

$946.50

$718.80

 

 

Daily Change

 

($7.00)

 

($0.15)

 

($1.40)

$10.85

 

 

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

 

0.55456

 

0.90872

 

1.27544

1.61178

 

 

Gold ATM Vols

 

14.450

 

14.330

 

15.318

16.17

 

 

Silver ATM Vols

 

25.872

 

24.882

 

25.818

26.23

 

 

Platinum ATM Vols

18.500

 

17.600

 

17.800

17.700

 

 

Palladium ATM Vols

28.000

 

25.450

 

25.850

25.700

 

 

Market Daily & Weekly

 

Market Snap Shot

 

17/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,216.42

 

-0.70

-3.52

 

 

XAG

 

 

$16.67

 

 

-1.80

-11.64

 

 

XPT

 

 

$933.85

 

-1.20

-4.44

 

 

XPD

 

 

$727.95

 

1.23

5.29

 

 

Euro

 

 

1.0626

 

 

-0.61

-2.51

 

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

Fundamentals and News

Gold-Fund Holdings Slide for Fifth Day as Rate Concerns Mount

 

Investors continued their exit from exchange-traded funds backed by gold as assets fell for a fifth day, the longest stretch this year.

Fund holdings dropped 3.6 metric tons to 1,949.1 tons, the lowest since July, according to data compiled by Bloomberg as of Wednesday.

 Investors including George Soros have pulled out of gold funds as the outlook for higher U.S. interest rates dents the metal’s appeal as a store of value.Donald Trump’s platform of fiscal stimulus and tax cuts bolsters the case for tighter monetary policy. Federal Reserve Chair Janet Yellen signaled Thursday that the central bank is close to lifting rates as the economy continues to strengthen.

The prospect for rising rates has “taken a little steam out of the market” in gold, Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey, said in a telephone interview. “We have had some high profile exits from the market. It’s an influence on everybody. Gold is dealing with a bit of liquidation from the ETFs.”

Gold futures for December delivery slipped 0.6 percent to settle at $1,216.90 at 1:48 p.m. on the Comex in New York, after swinging from a gain of 0.6 percent. Trading has calmed since last week’s thrashing after the U.S. election, which sent prices down 6.2 percent, the most since 2013. Prices are down 0.6 percent this week.

 “The market is taking a breath after the turmoil of the past week -- turmoil that was rather more favorable to risk assets,” said Jonathan Butler, a precious metals strategist at Mitsubishi Corp. in London.

 Traders see a rate increase as a near certainty when the Federal Open Market Committee meets next month, according to Fed funds futures. Higher rates make gold less competitive against interest-bearing assets.

 A rate hike “could well become appropriate relatively soon if incoming data provide some further evidence of continued progress toward the committee’s objectives,” Yellen said in the text of testimony she delivered Thursday in Washington before Congress’s Joint Economic Committee.

Silver futures also declined on the Comex. Platinum slid on the New York Mercantile Exchange, while palladium gained

 

Data Forthcoming Releases

 

Time

Country

 

Today's Events

Forecast

Previous

Actual

12:30pm

EUR

 

ECB President Draghi Speaks

 

 

 

 

5:30pm

CAD

 

Core CPI m/m

0.3%

0.2%

 

 

5:30pm

CAD

 

CPI m/m

0.2%

0.1%

 

 

6:30pm

USD

 

FOMC Member Dudley Speaks

 

 

 

 

6:30pm

USD

 

FOMC Member George Speaks

 

 

 

 

 

 

 

 

 

 

 

 

 

                   

Courtesy: http://kalotipm.com.sg/kaloti-market-report-18th-november-2016

Key Words:  Precious Metals