ScrapMonster Author
Gold Tumbles as ADP Jobs Surge Bolsters Fed’s Case to Hike Rates.
OTC Trading Range For |
All Times Are |
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As Per Dubai |
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Date |
09/03/2017 |
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08/03/2017 |
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Gold |
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Silver |
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Platinum |
Palladium |
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Open At 03.00 |
|
$1,215.86 |
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$17.49 |
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$960.88 |
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$772.77 |
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High Bid |
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$1,218.65 |
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$17.55 |
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$963.55 |
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$774.68 |
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Low Offer |
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$1,206.73 |
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$17.22 |
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$945.40 |
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$765.82 |
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Close At 02.00 |
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$1,208.31 |
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$17.23 |
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$946.75 |
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$770.51 |
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Previous Close |
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$1,215.86 |
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$17.49 |
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$960.85 |
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$772.74 |
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Daily Change USD |
($7.55) |
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($0.26) |
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($14.10) |
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($2.23) |
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Daily Change % |
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-0.62% |
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-1.51% |
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-1.49% |
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-0.29% |
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London Fixings |
AM |
$1,213.30 |
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** |
|
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$957.00 |
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$767.00 |
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|
|
PM |
$1,209.20 |
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$17.40 |
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$952.00 |
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$766.00 |
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COMEX Trading Volume |
201752 |
|
57773 |
|
20265 |
|
4162 |
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Active Month Settlement |
$1,209.40 |
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$17.29 |
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$949.50 |
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$770.40 |
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Previous Session |
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$1,216.10 |
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$17.53 |
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$961.10 |
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$775.00 |
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Daily Change |
|
($6.70) |
|
($0.24) |
|
($11.60) |
|
($4.60) |
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EFP's |
|
1.4/1.7 |
|
4/7 |
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0/2 |
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0/1 |
|
|
Forwards & Options |
1 Month |
|
3 months |
|
6 months |
12 months |
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GOFO |
|
- |
|
- |
|
|
- |
|
- |
|
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USD LIBOR |
|
0.85444 |
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1.10622 |
|
1.42044 |
|
1.79983 |
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Gold ATM Vols |
|
11.733 |
|
13.205 |
|
14.165 |
|
15.395 |
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||
Silver ATM Vols |
|
19.37 |
|
21.06 |
|
22.377 |
|
24.093 |
|
||
Platinum ATM Vols |
17.400 |
|
17.100 |
|
17.300 |
|
17.500 |
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|||
Palladium ATM Vols |
27.100 |
|
25.750 |
|
25.500 |
|
25.500 |
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Market Daily & Weekly
Market Snap Shot |
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08/03/2017 |
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1 Day% |
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1 Week % |
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XAU |
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$1,208.31 |
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-0.62 |
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-3.42 |
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XAG |
|
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$17.23 |
|
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-1.51 |
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-6.91 |
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XPT |
|
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$946.75 |
|
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-1.49 |
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-7.34 |
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XPD |
|
|
$770.51 |
|
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-0.29 |
|
-0.89 |
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Euro |
|
|
1.0541 |
|
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-0.24 |
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-0.06 |
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Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
Gold Tumbles as ADP Jobs Surge Bolsters Fed’s Case to Hike Rates
Gold futures drop to lowest in five weeks after a report showing a strengthening U.S. job market bolsters prospects for an interest-rate increase at next week’s FOMC meeting.
Contract for April delivery -0.6% to settle at $1,209.40/oz at 1:46 pm on the Comex in N.Y, after falling to $1,206.40, lowest intraday since Feb. 1
ADP says private payrolls +298k in Feb., most in almost three years, vs forecast for 187k
“ADP is telling us it’s almost a 100 percent certainty we’re going to see a Fed hike,” says Frank Cholly, a senior market strategist at RJO Futures in Chicago
“That’s the reason we see the market moving lower”
Bloomberg Dollar Spot Index +0.4%
U.S. 10-year yields climb to highest since December
Gold dropped below the 50-day moving average of $1,210.45, suggesting the rout may not be over
That’s showing “even more technical weakness in this case,” Cholly says
Investors pricing in 100% bet the Fed will raise borrowing costs at March 14-15 meeting
Gundlach Sees ‘Old School’ Fed Doing Sequential Hikes
Silver futures for May delivery -1.4% to $17.298/oz
Platinum futures for April delivery -1.2% to $949.50/oz
Palladium futures for June delivery -0.6% to $770.40/oz
Data Forthcoming Releases
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Time |
Country |
Today's Events |
Forecast |
Previous |
Actual |
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4:45pm |
EUR |
Minimum Bid Rate |
0.00% |
0.00% |
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5:30pm |
USD |
ECB Press Conference |
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5:30pm |
USD |
Unemployment Claims |
239K |
223K |
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5:30pm |
USD |
Import Prices m/m |
0.1% |
0.4% |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-9th-march-2017
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn