Kaloti Precious Metals-Morning Market Report-Friday, February 10, 2017-Shanghai Metals Market

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Kaloti Precious Metals-Morning Market Report-Friday, February 10, 2017

Industry News 07:28:53PM Feb 10, 2017 Source:scrapmonster

By 

ScrapMonster Author

Gold Prices Retreat as Equities Trade to a New All-Time High

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

10/02/2017

 

09/02/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,241.53

 

$17.77

 

$1,016.93

 

$770.60

 

High Bid

 

$1,244.59

 

$17.84

 

$1,029.03

 

$778.78

 

Low Offer

 

$1,225.70

 

$17.61

 

$1,013.75

 

$767.35

 

Close At 02.00

 

$1,228.36

 

$17.64

 

$1,014.50

 

$769.47

 

Previous Close

 

$1,241.53

 

$17.77

 

$1,016.95

 

$770.78

 

Daily Change USD

($13.17)

 

($0.13)

 

($2.45)

 

($1.31)

 

Daily Change %

 

-1.07%

 

-0.74%

 

-0.24%

 

-0.17%

 

London Fixings

AM

$1,241.75

 

**

 

 

$1,020.00

 

$773.00

 

 

PM

$1,236.80

 

$17.72

 

$1,019.00

 

$777.00

 

COMEX Trading Volume

234620

 

65367

 

14060

 

3745

 

Active Month Settlement

$1,236.80

 

$17.74

 

$1,022.20

 

$772.55

 

Previous Session

 

$1,239.50

 

$17.70

 

$1,019.40

 

$769.75

 

Daily Change

 

($2.70)

 

$0.04

 

$2.80

 

$2.80

 

EFP's

 

1.4/1.7

 

4/7

 

 

0/2

 

0/1

 

Forwards & Options

1 Month

 

3 months

 

6 months

12 months

 

GOFO

 

-

 

-

 

 

-

 

-

 

USD LIBOR

 

0.77167

 

1.03372

 

1.33794

 

1.70011

 

Gold ATM Vols

 

12.578

 

14.235

 

15.113

 

16.205

 

Silver ATM Vols

 

20.5

 

22.885

 

24.278

 

25.665

 

Platinum ATM Vols

18.500

 

18.350

 

18.400

 

18.400

 

Palladium ATM Vols

29.000

 

27.900

 

27.000

 

26.350

 

Market Daily & Weekly

Market Snap Shot

 

09/02/2017

 

1 Day%

 

1 Week %

 

XAU

 

 

$1,228.36

 

-1.07

 

1.01

 

XAG

 

 

$17.64

 

 

-0.74

 

0.91

 

XPT

 

 

$1,014.50

 

-0.24

 

1.39

 

XPD

 

 

$769.47

 

 

-0.17

 

1.39

 

Euro

 

 

1.0655

 

 

-0.40

 

-0.98

 

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

Fundamentals and News

Gold Prices Retreat as Equities Trade to a New All-Time High

  • Today gold traded under moderate pressure, and as of 5:00 Eastern Standard Time, is trading approximately $10 lower (spot gold) at $1231, with April futures trading roughly 6 ½ dollars lower at $1233 per ounce. This ended the daily advance in gold, which had prices increasing over the last five consecutive days.

 

  • Today’s lower price is also the result of a strong US Dollar and normal selling. The $9.90 decline is a combination of a stronger US Dollar, accounting for $5.10 of the decline, with the remaining $4.80 attributed to normal trading or selling in the market.

 

Is the Gold Rally Over?

 

  • As far as the outlooks for gold prices go, the answer must be framed within specific time parameters. We might be looking at a short-term pause, with traders and investors taking profits and awaiting further action of this new administration. However, the long-term prognosis for gold prices is still solidly bullish.

 

  • This rally began mid-December of last year when prices reached a low of $1124 per ounce. From mid-December until January 22, gold prices surged approximately $100 in value, trading to $1220. This was followed by a mild correction of roughly 38%, moving gold prices back down to $1180 on January 27. Near the end of January, gold prices began a second leg of this rally moving gold prices roughly $60 higher. This week, gold reached an intra-day high above $1240.

 

  • This recent rally in gold has been fueled by the uncertainty factor that is intrinsic to our new administration’s leadership style and tactics. Fueled by 140 word sound bites through Twitter, as well as executive orders continuing to divide an already polarized nation, the simple fact is that the tone and timbre of President Trump’s leadership style will probably not change or soften. If that is the case, we have probably not seen the last of increased market volatility or higher gold prices. However, we certainly could be at a point in which gold prices are consolidating and correcting from the recent advances.

 

Data Forthcoming Releases

v Data Forthcoming Releases:

 

 

 

 

 

 

Time

Country

 

Today's Events

Forecast

Previous

 

Actual

 

1:30pm

GBP

 

Manufacturing Production m/m

0.3%

1.3%

 

 

 

5:30pm

CAD

 

Employment Change

-10.1K

53.7K

 

 

 

5:30pm

CAD

 

Unemployment Rate

6.9%

6.9%

 

 

 

7:00pm

USD

 

Prelim UoM Consumer Sentiment

97.9

98.5

 

 

 

 

 

 

 

 

 

*

 

 

 

 

 

 

 

Dubai Time

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-10th-february-2017

Key Words:  Precious Metals 

Kaloti Precious Metals-Morning Market Report-Friday, February 10, 2017

Industry News 07:28:53PM Feb 10, 2017 Source:scrapmonster

By 

ScrapMonster Author

Gold Prices Retreat as Equities Trade to a New All-Time High

 

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

10/02/2017

 

09/02/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,241.53

 

$17.77

 

$1,016.93

 

$770.60

 

High Bid

 

$1,244.59

 

$17.84

 

$1,029.03

 

$778.78

 

Low Offer

 

$1,225.70

 

$17.61

 

$1,013.75

 

$767.35

 

Close At 02.00

 

$1,228.36

 

$17.64

 

$1,014.50

 

$769.47

 

Previous Close

 

$1,241.53

 

$17.77

 

$1,016.95

 

$770.78

 

Daily Change USD

($13.17)

 

($0.13)

 

($2.45)

 

($1.31)

 

Daily Change %

 

-1.07%

 

-0.74%

 

-0.24%

 

-0.17%

 

London Fixings

AM

$1,241.75

 

**

 

 

$1,020.00

 

$773.00

 

 

PM

$1,236.80

 

$17.72

 

$1,019.00

 

$777.00

 

COMEX Trading Volume

234620

 

65367

 

14060

 

3745

 

Active Month Settlement

$1,236.80

 

$17.74

 

$1,022.20

 

$772.55

 

Previous Session

 

$1,239.50

 

$17.70

 

$1,019.40

 

$769.75

 

Daily Change

 

($2.70)

 

$0.04

 

$2.80

 

$2.80

 

EFP's

 

1.4/1.7

 

4/7

 

 

0/2

 

0/1

 

Forwards & Options

1 Month

 

3 months

 

6 months

12 months

 

GOFO

 

-

 

-

 

 

-

 

-

 

USD LIBOR

 

0.77167

 

1.03372

 

1.33794

 

1.70011

 

Gold ATM Vols

 

12.578

 

14.235

 

15.113

 

16.205

 

Silver ATM Vols

 

20.5

 

22.885

 

24.278

 

25.665

 

Platinum ATM Vols

18.500

 

18.350

 

18.400

 

18.400

 

Palladium ATM Vols

29.000

 

27.900

 

27.000

 

26.350

 

Market Daily & Weekly

Market Snap Shot

 

09/02/2017

 

1 Day%

 

1 Week %

 

XAU

 

 

$1,228.36

 

-1.07

 

1.01

 

XAG

 

 

$17.64

 

 

-0.74

 

0.91

 

XPT

 

 

$1,014.50

 

-0.24

 

1.39

 

XPD

 

 

$769.47

 

 

-0.17

 

1.39

 

Euro

 

 

1.0655

 

 

-0.40

 

-0.98

 

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

Fundamentals and News

Gold Prices Retreat as Equities Trade to a New All-Time High

  • Today gold traded under moderate pressure, and as of 5:00 Eastern Standard Time, is trading approximately $10 lower (spot gold) at $1231, with April futures trading roughly 6 ½ dollars lower at $1233 per ounce. This ended the daily advance in gold, which had prices increasing over the last five consecutive days.

 

  • Today’s lower price is also the result of a strong US Dollar and normal selling. The $9.90 decline is a combination of a stronger US Dollar, accounting for $5.10 of the decline, with the remaining $4.80 attributed to normal trading or selling in the market.

 

Is the Gold Rally Over?

 

  • As far as the outlooks for gold prices go, the answer must be framed within specific time parameters. We might be looking at a short-term pause, with traders and investors taking profits and awaiting further action of this new administration. However, the long-term prognosis for gold prices is still solidly bullish.

 

  • This rally began mid-December of last year when prices reached a low of $1124 per ounce. From mid-December until January 22, gold prices surged approximately $100 in value, trading to $1220. This was followed by a mild correction of roughly 38%, moving gold prices back down to $1180 on January 27. Near the end of January, gold prices began a second leg of this rally moving gold prices roughly $60 higher. This week, gold reached an intra-day high above $1240.

 

  • This recent rally in gold has been fueled by the uncertainty factor that is intrinsic to our new administration’s leadership style and tactics. Fueled by 140 word sound bites through Twitter, as well as executive orders continuing to divide an already polarized nation, the simple fact is that the tone and timbre of President Trump’s leadership style will probably not change or soften. If that is the case, we have probably not seen the last of increased market volatility or higher gold prices. However, we certainly could be at a point in which gold prices are consolidating and correcting from the recent advances.

 

Data Forthcoming Releases

v Data Forthcoming Releases:

 

 

 

 

 

 

Time

Country

 

Today's Events

Forecast

Previous

 

Actual

 

1:30pm

GBP

 

Manufacturing Production m/m

0.3%

1.3%

 

 

 

5:30pm

CAD

 

Employment Change

-10.1K

53.7K

 

 

 

5:30pm

CAD

 

Unemployment Rate

6.9%

6.9%

 

 

 

7:00pm

USD

 

Prelim UoM Consumer Sentiment

97.9

98.5

 

 

 

 

 

 

 

 

 

*

 

 

 

 

 

 

 

Dubai Time

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-10th-february-2017

Key Words:  Precious Metals