Kaloti Precious Metals-Morning Market Report-Wednesday, November 30, 2016-Shanghai Metals Market

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Kaloti Precious Metals-Morning Market Report-Wednesday, November 30, 2016

Industry News 02:19:37PM Nov 30, 2016 Source:SMM

By 

ScrapMonster Author

Gold's Recovery Falters as Fund Investors Keep Selling Assets.

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

30/11/2016

29/11/2016

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,194.00

$16.60

$924.26

$757.27

High Bid

 

$1,195.28

$16.72

$929.82

$766.56

Low Offer

 

$1,181.15

$16.42

$916.64

$754.49

Close At 02.00

 

$1,188.31

$16.62

$918.04

$763.10

Previous Close

 

$1,194.00

$16.60

$924.45

$757.45

Daily Change USD

($5.69)

$0.02

($6.41)

$5.65

Daily Change %

 

-0.48%

0.12%

-0.70%

0.74%

London Fixings

AM

$1,187.30

**

$923.00

$753.00

 

PM

$1,186.55

$16.54

$917.00

$761.00

COMEX Trading Volume

$196,515.00

$59,737.00

$12,899.00

$5,139.00

Active Month Settlement

$1,190.80

$16.74

$921.30

$765.25

Previous Session

 

$1,193.80

$16.67

$923.30

$758.00

Daily Change

 

($3.00)

$0.07

($2.00)

$7.25

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

 

0.60561

0.93511

1.28989

1.64122

Gold ATM Vols

 

14.220

14.710

15.72

16.46

Silver ATM Vols

 

23.49

24.05

25.1

25.76

Platinum ATM Vols

21.350

19.500

19.050

18.700

Palladium ATM Vols

31.150

28.640

27.450

26.500

Market Daily & Weekly

Market Snap Shot

29/11/2016

1 Day%

1 Week %

XAU

$1,188.31

-0.48

-2.02

XAG

$16.62

0.12

-0.18

XPT

$918.04

-0.70

-2.40

XPD

$763.10

0.74

2.71

Euro

1.065

0.34

0.22

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

Fundamentals and News

Gold’s Recovery Falters as Fund Investors Keep Selling Assets

 

  • Gold halted its biggest gain in almost a month as investors extended the longest run of sales from bullion-backed funds in a year. Palladium climbed to the highest in almost 18 months.

 

  • Holdings in exchange-traded funds backed by gold have fallen for the past 12 days and are heading for the biggest monthly drop in three years. Bullion prices are near a nine-month low as traders are certain that the Federal Reserve will raise U.S. interest rates in December following Donald Trump’s election win.

 

  • Gold futures for February delivery fell 0.3 percent to $1,190.80 an ounce at 1:41 p.m. on the Comex in New York. The metal climbed Monday by the most since Nov. 2. Prices fell below $1,200 last week for the first time since February.

 

  • “There’s no indication yet the market has found a bottom,” Frank Cholly, a senior market strategist at RJO Futures in Chicago, said in a telephone interview. “They are liquidating Treasuries and gold and are anticipating rate hikes and good economic growth in the US now that we have a new administration coming in.”

 

  • Investors have sold 100.6 metric tons of gold through ETFs so far this month as the outlook for higher U.S. rates curbed the appeal of owning assets that don’t provide a yield. Holdings fell 6.3 tons to 1,887 tons as of Monday, data compiled by Bloomberg show.

 

  • The worst is yet to come. At least that’s the opinion of the top two gold forecasters who say bullion will suffer further losses in 2017 as interest rates climb and the dollar strengthens.

 

  • Oversea-Chinese Banking Corp. and ABN Amro Group NV predict gold will slide to $1,100 an ounce by the end of next year as the Federal Reserve tightens monetary policy, real Treasury yields increase and the U.S. currency rises. Prices were at $1,187 on Tuesday. The banks were ranked first and second as gold forecasters in the third quarter, according to data compiled by Bloomberg.

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

16:30

EUR

ECB President Draghi Speaks

 

 

 

5:15pm

USD

ADP Non-Farm Employment Change

161K

147K

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-30th-november-2016

Key Words:  Precious Metals 

Price

more
Gold(99.99%)
Apr.22
280.3
0.8
(0.30%)
Gold(99.95%)
Apr.22
280.1
0.7
(0.23%)
#1 Silver(99.99%)
Apr.22
3514.0
3.0
(0.09%)
Silver(99.95%)
Apr.22
3499.0
3.0
(0.09%)
Silver(99.90%)
Apr.22
3484.0
3.0
(0.09%)

Kaloti Precious Metals-Morning Market Report-Wednesday, November 30, 2016

Industry News 02:19:37PM Nov 30, 2016 Source:SMM

By 

ScrapMonster Author

Gold's Recovery Falters as Fund Investors Keep Selling Assets.

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

30/11/2016

29/11/2016

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,194.00

$16.60

$924.26

$757.27

High Bid

 

$1,195.28

$16.72

$929.82

$766.56

Low Offer

 

$1,181.15

$16.42

$916.64

$754.49

Close At 02.00

 

$1,188.31

$16.62

$918.04

$763.10

Previous Close

 

$1,194.00

$16.60

$924.45

$757.45

Daily Change USD

($5.69)

$0.02

($6.41)

$5.65

Daily Change %

 

-0.48%

0.12%

-0.70%

0.74%

London Fixings

AM

$1,187.30

**

$923.00

$753.00

 

PM

$1,186.55

$16.54

$917.00

$761.00

COMEX Trading Volume

$196,515.00

$59,737.00

$12,899.00

$5,139.00

Active Month Settlement

$1,190.80

$16.74

$921.30

$765.25

Previous Session

 

$1,193.80

$16.67

$923.30

$758.00

Daily Change

 

($3.00)

$0.07

($2.00)

$7.25

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

 

0.60561

0.93511

1.28989

1.64122

Gold ATM Vols

 

14.220

14.710

15.72

16.46

Silver ATM Vols

 

23.49

24.05

25.1

25.76

Platinum ATM Vols

21.350

19.500

19.050

18.700

Palladium ATM Vols

31.150

28.640

27.450

26.500

Market Daily & Weekly

Market Snap Shot

29/11/2016

1 Day%

1 Week %

XAU

$1,188.31

-0.48

-2.02

XAG

$16.62

0.12

-0.18

XPT

$918.04

-0.70

-2.40

XPD

$763.10

0.74

2.71

Euro

1.065

0.34

0.22

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

Fundamentals and News

Gold’s Recovery Falters as Fund Investors Keep Selling Assets

 

  • Gold halted its biggest gain in almost a month as investors extended the longest run of sales from bullion-backed funds in a year. Palladium climbed to the highest in almost 18 months.

 

  • Holdings in exchange-traded funds backed by gold have fallen for the past 12 days and are heading for the biggest monthly drop in three years. Bullion prices are near a nine-month low as traders are certain that the Federal Reserve will raise U.S. interest rates in December following Donald Trump’s election win.

 

  • Gold futures for February delivery fell 0.3 percent to $1,190.80 an ounce at 1:41 p.m. on the Comex in New York. The metal climbed Monday by the most since Nov. 2. Prices fell below $1,200 last week for the first time since February.

 

  • “There’s no indication yet the market has found a bottom,” Frank Cholly, a senior market strategist at RJO Futures in Chicago, said in a telephone interview. “They are liquidating Treasuries and gold and are anticipating rate hikes and good economic growth in the US now that we have a new administration coming in.”

 

  • Investors have sold 100.6 metric tons of gold through ETFs so far this month as the outlook for higher U.S. rates curbed the appeal of owning assets that don’t provide a yield. Holdings fell 6.3 tons to 1,887 tons as of Monday, data compiled by Bloomberg show.

 

  • The worst is yet to come. At least that’s the opinion of the top two gold forecasters who say bullion will suffer further losses in 2017 as interest rates climb and the dollar strengthens.

 

  • Oversea-Chinese Banking Corp. and ABN Amro Group NV predict gold will slide to $1,100 an ounce by the end of next year as the Federal Reserve tightens monetary policy, real Treasury yields increase and the U.S. currency rises. Prices were at $1,187 on Tuesday. The banks were ranked first and second as gold forecasters in the third quarter, according to data compiled by Bloomberg.

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

16:30

EUR

ECB President Draghi Speaks

 

 

 

5:15pm

USD

ADP Non-Farm Employment Change

161K

147K

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-30th-november-2016

Key Words:  Precious Metals