Kaloti Precious Metals-Morning Market Report-Thursday, March 9, 2017-Shanghai Metals Market

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Kaloti Precious Metals-Morning Market Report-Thursday, March 9, 2017

Industry News 05:41:35PM Mar 09, 2017 Source:scrapmonster

By 

ScrapMonster Author

Gold Tumbles as ADP Jobs Surge Bolsters Fed’s Case to Hike Rates.

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

09/03/2017

 

08/03/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,215.86

 

$17.49

 

$960.88

 

$772.77

 

High Bid

 

$1,218.65

 

$17.55

 

$963.55

 

$774.68

 

Low Offer

 

$1,206.73

 

$17.22

 

$945.40

 

$765.82

 

Close At 02.00

 

$1,208.31

 

$17.23

 

$946.75

 

$770.51

 

Previous Close

 

$1,215.86

 

$17.49

 

$960.85

 

$772.74

 

Daily Change USD

($7.55)

 

($0.26)

 

($14.10)

 

($2.23)

 

Daily Change %

 

-0.62%

 

-1.51%

 

-1.49%

 

-0.29%

 

London Fixings

AM

$1,213.30

 

**

 

 

$957.00

 

$767.00

 

 

PM

$1,209.20

 

$17.40

 

$952.00

 

$766.00

 

COMEX Trading Volume

201752

 

57773

 

20265

 

4162

 

Active Month Settlement

$1,209.40

 

$17.29

 

$949.50

 

$770.40

 

Previous Session

 

$1,216.10

 

$17.53

 

$961.10

 

$775.00

 

Daily Change

 

($6.70)

 

($0.24)

 

($11.60)

 

($4.60)

 

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

 

0.85444

 

1.10622

 

1.42044

 

1.79983

 

Gold ATM Vols

 

11.733

 

13.205

 

14.165

 

15.395

 

Silver ATM Vols

 

19.37

 

21.06

 

22.377

 

24.093

 

Platinum ATM Vols

17.400

 

17.100

 

17.300

 

17.500

 

Palladium ATM Vols

27.100

 

25.750

 

25.500

 

25.500

 

                       

Market Daily & Weekly

Market Snap Shot

 

08/03/2017

 

1 Day%

 

1 Week %

 

XAU

 

 

$1,208.31

 

-0.62

 

-3.42

 

XAG

 

 

$17.23

 

 

-1.51

 

-6.91

 

XPT

 

 

$946.75

 

 

-1.49

 

-7.34

 

XPD

 

 

$770.51

 

 

-0.29

 

-0.89

 

Euro

 

 

1.0541

 

 

-0.24

 

-0.06

 

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

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

 

 

4:45pm

EUR

Minimum Bid Rate

0.00%

0.00%

 

 

 

5:30pm

USD

ECB Press Conference

 

 

 

 

 

5:30pm

USD

Unemployment Claims

239K

223K

 

 

 

5:30pm

USD

Import Prices m/m

0.1%

0.4%

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-9th-march-2017

Key Words:  Precious Metals 

Kaloti Precious Metals-Morning Market Report-Thursday, March 9, 2017

Industry News 05:41:35PM Mar 09, 2017 Source:scrapmonster

By 

ScrapMonster Author

Gold Tumbles as ADP Jobs Surge Bolsters Fed’s Case to Hike Rates.

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

09/03/2017

 

08/03/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,215.86

 

$17.49

 

$960.88

 

$772.77

 

High Bid

 

$1,218.65

 

$17.55

 

$963.55

 

$774.68

 

Low Offer

 

$1,206.73

 

$17.22

 

$945.40

 

$765.82

 

Close At 02.00

 

$1,208.31

 

$17.23

 

$946.75

 

$770.51

 

Previous Close

 

$1,215.86

 

$17.49

 

$960.85

 

$772.74

 

Daily Change USD

($7.55)

 

($0.26)

 

($14.10)

 

($2.23)

 

Daily Change %

 

-0.62%

 

-1.51%

 

-1.49%

 

-0.29%

 

London Fixings

AM

$1,213.30

 

**

 

 

$957.00

 

$767.00

 

 

PM

$1,209.20

 

$17.40

 

$952.00

 

$766.00

 

COMEX Trading Volume

201752

 

57773

 

20265

 

4162

 

Active Month Settlement

$1,209.40

 

$17.29

 

$949.50

 

$770.40

 

Previous Session

 

$1,216.10

 

$17.53

 

$961.10

 

$775.00

 

Daily Change

 

($6.70)

 

($0.24)

 

($11.60)

 

($4.60)

 

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

 

0.85444

 

1.10622

 

1.42044

 

1.79983

 

Gold ATM Vols

 

11.733

 

13.205

 

14.165

 

15.395

 

Silver ATM Vols

 

19.37

 

21.06

 

22.377

 

24.093

 

Platinum ATM Vols

17.400

 

17.100

 

17.300

 

17.500

 

Palladium ATM Vols

27.100

 

25.750

 

25.500

 

25.500

 

                       

Market Daily & Weekly

Market Snap Shot

 

08/03/2017

 

1 Day%

 

1 Week %

 

XAU

 

 

$1,208.31

 

-0.62

 

-3.42

 

XAG

 

 

$17.23

 

 

-1.51

 

-6.91

 

XPT

 

 

$946.75

 

 

-1.49

 

-7.34

 

XPD

 

 

$770.51

 

 

-0.29

 

-0.89

 

Euro

 

 

1.0541

 

 

-0.24

 

-0.06

 

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

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

 

 

4:45pm

EUR

Minimum Bid Rate

0.00%

0.00%

 

 

 

5:30pm

USD

ECB Press Conference

 

 

 

 

 

5:30pm

USD

Unemployment Claims

239K

223K

 

 

 

5:30pm

USD

Import Prices m/m

0.1%

0.4%

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-9th-march-2017

Key Words:  Precious Metals