ScrapMonster Author
Gold Extends Slump as Fed Rate Concerns Outweigh Haven Demand
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OTC Trading Range For |
All Times Are |
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As Per Dubai |
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Date |
15/02/2017 |
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14/02/2017 |
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Gold |
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Silver |
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Platinum |
Palladium |
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Open At 03.00 |
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$1,225.26 |
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$17.82 |
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$998.55 |
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$776.03 |
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High Bid |
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$1,234.60 |
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$18.08 |
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$1,009.01 |
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$784.90 |
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Low Offer |
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$1,222.10 |
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$17.75 |
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$996.10 |
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$774.06 |
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Close At 02.00 |
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$1,228.13 |
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$17.95 |
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$1,001.75 |
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$781.50 |
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Previous Close |
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$1,225.26 |
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$17.82 |
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$998.50 |
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$775.85 |
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Daily Change USD |
$2.87 |
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$0.13 |
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$3.25 |
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$5.65 |
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Daily Change % |
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0.23% |
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0.72% |
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0.32% |
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0.72% |
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London Fixings |
AM |
$1,229.65 |
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** |
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$1,000.00 |
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$778.00 |
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PM |
$1,230.75 |
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$17.91 |
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$1,004.00 |
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$782.00 |
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COMEX Trading Volume |
225219 |
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77056 |
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11692 |
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3648 |
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Active Month Settlement |
$1,225.40 |
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$17.88 |
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$1,002.20 |
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$780.90 |
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Previous Session |
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$1,225.80 |
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$17.82 |
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$1,000.30 |
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$774.95 |
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Daily Change |
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($0.40) |
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$0.06 |
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$1.90 |
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$5.95 |
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EFP's |
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1.4/1.7 |
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4/7 |
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0/2 |
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0/1 |
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Forwards & Options |
1 Month |
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3 months |
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6 months |
12 months |
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GOFO |
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- |
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- |
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- |
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- |
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USD LIBOR |
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0.77 |
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1.039 |
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1.33794 |
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1.71039 |
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Gold ATM Vols |
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12.467 |
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14.323 |
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15.182 |
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16.285 |
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Silver ATM Vols |
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20.6 |
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22.96 |
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25.2 |
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25.71 |
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Platinum ATM Vols |
19.050 |
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18.950 |
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18.650 |
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18.450 |
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Palladium ATM Vols |
28.500 |
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27.500 |
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26.700 |
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26.250 |
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Market Daily & Weekly
Market Snap Shot |
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14/02/2017 |
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1 Day% |
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1 Week % |
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XAU |
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$1,228.13 |
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0.23 |
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-0.47 |
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XAG |
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$17.95 |
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0.72 |
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1.39 |
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XPT |
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$1,001.75 |
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0.32 |
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-0.36 |
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XPD |
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$781.50 |
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0.72 |
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2.27 |
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Euro |
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1.0578 |
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-0.19 |
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-0.99 |
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Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
Gold Extends Slump as Fed Rate Concerns Outweigh Haven Demand
Gold futures fell for a fourth session, extending the longest slide in more than two weeks, after Federal Reserve Chair Janet Yellen said more interest-rate increases will be appropriate if the U.S. economy stays on course.
Waiting too long to tighten monetary policy could mean central bankers would have to eventually raise rates rapidly, posing a risk to financial markets and the economy, Yellen told the Senate Banking Committee in prepared remarks Tuesday. While she gave no indication on the timing of the next rate hike, investors see a 34 percent chance of such a move next month, up from about 30 percent before she spoke.
Bullion has rallied more than 6 percent this year as concerns that Donald Trump’s policies on trade and immigration could derail U.S. growth boosted speculation that the Fed would be slow to raise borrowing costs. Gold wiped out gains of as much as 0.8 percent Tuesday after Yellen’s testimony.
“Yellen was hawkish, and this has impacted the price of gold,” Naeem Aslam, chief market analyst at Think Markets U.K. Ltd., said in an e-mail. “It is highly likely that the Fed may increase the rate three times this year and March meeting is very much live.”
Gold futures for April delivery settled at $1,225.40 an ounce at 1:38 p.m. on the Comex in New York, down less than 0.1 percent. The four-session decline is the longest since Jan. 27.
Data Forthcoming Releases
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Time |
Country |
Today's Events |
Forecast |
Previous |
Actual |
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1:30pm |
GBP |
Average Earnings Index 3m/y |
2.8% |
2.8% |
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1:30pm |
GBP |
Claimant Count Chang |
1.1K |
-10.1K |
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5:30pm |
CAD |
Manufacturing Sales m/m |
1.4% |
1.5% |
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5:30pm |
USD |
CPI m/m |
0.3% |
0.35 |
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5:30pm |
USD |
Core CPI m/m |
0.2% |
0.2% |
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5:30pm |
USD |
Core Retail Sales m/m |
0.4% |
0.2% |
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5:30pm |
USD |
Retail Sales m/m |
0.1% |
0.6% |
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6:15pm |
USD |
Capacity Utilization Rate |
75.6% |
75.5% |
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7:00pm |
USD |
Fed Chair Yellen Testifies |
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7:30pm |
USD |
Crude Oil Inventories |
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13.8M |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-15th-february-2017
For queries, please contact Michael Jiang at michaeljiang@smm.cn
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