Kaloti Precious Metals-Morning Market Report-Thursday, November 17, 2016-Shanghai Metals Market

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Kaloti Precious Metals-Morning Market Report-Thursday, November 17, 2016

Industry News 10:08:43AM Nov 21, 2016 Source:scrapmonster

By 

ScrapMonster Author

Soros, Druckenmiller Joined by ETF Investors Abandoning Gold.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

17/11/2016

 

16/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 03.00

 

$1,228.73

 

$17.08

 

$937.82

$707.93

 

 

High Bid

 

$1,233.18

 

$17.24

 

$949.73

$721.38

 

 

Low Offer

 

$1,221.55

 

$16.86

 

$925.84

$693.44

 

 

Close At 02.00

 

$1,224.99

 

$16.97

 

$945.08

$718.97

 

 

Previous Close

 

$1,228.73

 

$17.07

 

$939.55

$707.98

 

 

Daily Change USD

($3.74)

 

($0.10)

 

$5.53

$10.99

 

 

Daily Change %

 

-0.31%

 

-0.59%

 

0.59%

1.53%

 

 

London Fixings

AM

$1,225.70

 

**

 

 

$933.00

$699.00

 

 

 

PM

$1,229.20

 

$16.95

 

$937.00

$716.00

 

 

COMEX Trading Volume

$197,965.00

 

$59,923.00

 

$12,896.00

$7,523.00

 

 

Active Month Settlement

$1,223.90

 

$16.92

 

$946.50

$718.80

 

 

Previous Session

 

$1,224.50

 

$17.04

 

$934.70

$705.95

 

 

Daily Change

 

($0.60)

 

($0.12)

 

$11.80

$12.85

 

 

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

 

0.55011

 

0.90622

 

1.27211

1.60456

 

 

Gold ATM Vols

 

14.420

 

14.445

 

15.265

16.112

 

 

Silver ATM Vols

 

25.908

 

25.583

 

25.987

26.32

 

 

Platinum ATM Vols

18.500

 

18.000

 

17.800

17.700

 

 

Palladium ATM Vols

28.000

 

27.100

 

26.500

25.750

 

 

Market Daily & Weekly

 

Market Snap Shot

 

16/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,224.99

 

-0.31

-4.33

 

 

XAG

 

 

$16.97

 

 

-0.59

-8.90

 

 

XPT

 

 

$945.08

 

0.59

-5.91

 

 

XPD

 

 

$718.97

 

1.53

5.65

 

 

Euro

 

 

1.0691

 

 

-0.29

-2.05

 

 

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

Fundamentals and News

Soros, Druckenmiller Joined by ETF Investors Abandoning Gold

 

  • Billionaire investors George Soros and Stanley Druckenmilleraren’t the only ones exiting gold.

 

  • This month, investors pulled $576 million from SPDR Gold Shares, the largest exchange-traded fund backed by the metal. That’s more than double the outflows last month, and the biggest since August, data compiled by Bloomberg show. Through Tuesday, holdings in all gold-backed ETFs tracked by Bloomberg around the world had the biggest four-day decline since July 2013.

 

  • Bullion futures have slipped almost 4 percent since the Nov. 8 U.S. presidential election as the dollar rallied and the S&P 500 Index of equities gained. Demand for the metal as a haven has waned as traders price in odds that an improving economy will spur the Federal Reserve to raise U.S. interest rates next month.Donald Trump’s pledge for infrastructure spending and tax cuts are seen widening the budget deficit, boosting bond yields and helping curb the investment appeal of non-interest-bearing gold.

 

  • “Investors are abandoning the ship and jumping into risk trade,” said Naeem Aslam, chief market analyst at Think Markets U.K. Ltd. in London. “The clear trade is to go long for the dollar index, and given that the odds are at 91 percent for a rate hike in December, you may see this trend of declining open interest for gold to continue.”

 

  • As the gold rally faltered in the third quarter, Soros Fund Management sold bullion and bulked up on riskier sectors including energy and emerging markets. A regulatory filing Monday showed Soros unloaded a position in SPDR Gold worth $30.4 million as of June 30. The firm bought those 240,000 shares in the SPDR ETF in the second quarter, before gold futures capped their best first half in almost four decades.

 

  • Druckenmiller, who in May said the metal was his largest currency allocation, sold all of his gold on the night of the U.S. election. As other traders struggled to figure out what a Trump presidency would mean for markets, sending prices on a wild ride, Druckenmiller made a bet on stronger economic growth and rising interest rates, telling CNBC that all the reasons for owning gold the last few years “seem to be ending.”

 

  • Traders put the odds that the Fed will raise U.S. rates by December at 96 percent, up from 66 percent a month earlier, according to Fed-fund futures data compiled by Bloomberg.}

 

  • Gold futures for December delivery settled little changed at $1,223.90 an ounce at 1:42 p.m. on the Comex in New York.

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

5:30pm

USD

Building Permits

1.19M

1.23M

 

5:30pm

USD

CPI m/m

0.4%

0.3%

 

5:30pm

USD

Core CPI m/m

0.2%

0.1%

 

5:30pm

USD

Philly Fed Manufacturing Index

8.1

9.7

 

5:30pm

USD

Unemployment Claims

257K

254K

 

7:00pm

USD

Fed Chair Yellen Testifies

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-17th-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 17, 2016

Industry News 10:08:43AM Nov 21, 2016 Source:scrapmonster

By 

ScrapMonster Author

Soros, Druckenmiller Joined by ETF Investors Abandoning Gold.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

17/11/2016

 

16/11/2016

 

 

Gold

 

Silver

 

Platinum

Palladium

 

 

Open At 03.00

 

$1,228.73

 

$17.08

 

$937.82

$707.93

 

 

High Bid

 

$1,233.18

 

$17.24

 

$949.73

$721.38

 

 

Low Offer

 

$1,221.55

 

$16.86

 

$925.84

$693.44

 

 

Close At 02.00

 

$1,224.99

 

$16.97

 

$945.08

$718.97

 

 

Previous Close

 

$1,228.73

 

$17.07

 

$939.55

$707.98

 

 

Daily Change USD

($3.74)

 

($0.10)

 

$5.53

$10.99

 

 

Daily Change %

 

-0.31%

 

-0.59%

 

0.59%

1.53%

 

 

London Fixings

AM

$1,225.70

 

**

 

 

$933.00

$699.00

 

 

 

PM

$1,229.20

 

$16.95

 

$937.00

$716.00

 

 

COMEX Trading Volume

$197,965.00

 

$59,923.00

 

$12,896.00

$7,523.00

 

 

Active Month Settlement

$1,223.90

 

$16.92

 

$946.50

$718.80

 

 

Previous Session

 

$1,224.50

 

$17.04

 

$934.70

$705.95

 

 

Daily Change

 

($0.60)

 

($0.12)

 

$11.80

$12.85

 

 

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

 

0.55011

 

0.90622

 

1.27211

1.60456

 

 

Gold ATM Vols

 

14.420

 

14.445

 

15.265

16.112

 

 

Silver ATM Vols

 

25.908

 

25.583

 

25.987

26.32

 

 

Platinum ATM Vols

18.500

 

18.000

 

17.800

17.700

 

 

Palladium ATM Vols

28.000

 

27.100

 

26.500

25.750

 

 

Market Daily & Weekly

 

Market Snap Shot

 

16/11/2016

 

1 Day%

1 Week %

 

 

XAU

 

 

$1,224.99

 

-0.31

-4.33

 

 

XAG

 

 

$16.97

 

 

-0.59

-8.90

 

 

XPT

 

 

$945.08

 

0.59

-5.91

 

 

XPD

 

 

$718.97

 

1.53

5.65

 

 

Euro

 

 

1.0691

 

 

-0.29

-2.05

 

 

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

Fundamentals and News

Soros, Druckenmiller Joined by ETF Investors Abandoning Gold

 

  • Billionaire investors George Soros and Stanley Druckenmilleraren’t the only ones exiting gold.

 

  • This month, investors pulled $576 million from SPDR Gold Shares, the largest exchange-traded fund backed by the metal. That’s more than double the outflows last month, and the biggest since August, data compiled by Bloomberg show. Through Tuesday, holdings in all gold-backed ETFs tracked by Bloomberg around the world had the biggest four-day decline since July 2013.

 

  • Bullion futures have slipped almost 4 percent since the Nov. 8 U.S. presidential election as the dollar rallied and the S&P 500 Index of equities gained. Demand for the metal as a haven has waned as traders price in odds that an improving economy will spur the Federal Reserve to raise U.S. interest rates next month.Donald Trump’s pledge for infrastructure spending and tax cuts are seen widening the budget deficit, boosting bond yields and helping curb the investment appeal of non-interest-bearing gold.

 

  • “Investors are abandoning the ship and jumping into risk trade,” said Naeem Aslam, chief market analyst at Think Markets U.K. Ltd. in London. “The clear trade is to go long for the dollar index, and given that the odds are at 91 percent for a rate hike in December, you may see this trend of declining open interest for gold to continue.”

 

  • As the gold rally faltered in the third quarter, Soros Fund Management sold bullion and bulked up on riskier sectors including energy and emerging markets. A regulatory filing Monday showed Soros unloaded a position in SPDR Gold worth $30.4 million as of June 30. The firm bought those 240,000 shares in the SPDR ETF in the second quarter, before gold futures capped their best first half in almost four decades.

 

  • Druckenmiller, who in May said the metal was his largest currency allocation, sold all of his gold on the night of the U.S. election. As other traders struggled to figure out what a Trump presidency would mean for markets, sending prices on a wild ride, Druckenmiller made a bet on stronger economic growth and rising interest rates, telling CNBC that all the reasons for owning gold the last few years “seem to be ending.”

 

  • Traders put the odds that the Fed will raise U.S. rates by December at 96 percent, up from 66 percent a month earlier, according to Fed-fund futures data compiled by Bloomberg.}

 

  • Gold futures for December delivery settled little changed at $1,223.90 an ounce at 1:42 p.m. on the Comex in New York.

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

5:30pm

USD

Building Permits

1.19M

1.23M

 

5:30pm

USD

CPI m/m

0.4%

0.3%

 

5:30pm

USD

Core CPI m/m

0.2%

0.1%

 

5:30pm

USD

Philly Fed Manufacturing Index

8.1

9.7

 

5:30pm

USD

Unemployment Claims

257K

254K

 

7:00pm

USD

Fed Chair Yellen Testifies

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-17th-november-2016

Key Words:  Precious Metals