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Kaloti Precious Metals-Morning Market Report-Thursday, March 30, 2017
Mar 31,2017 11:00CST
Return of Brexit Fears Helps Send Gold to Best Quarter in a Year.

By 

ScrapMonster Author

Return of Brexit Fears Helps Send Gold to Best Quarter in a Year.

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

30/03/2017

29/03/2017

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,251.82

$18.19

$954.68

$794.04

High Bid

 

$1,254.78

$18.25

$956.80

$795.08

Low Offer

 

$1,247.38

$18.03

$948.48

$785.54

Close At 02.00

 

$1,253.45

$18.24

$954.20

$792.00

Previous Close

 

$1,251.82

$18.19

$954.60

$793.25

Daily Change USD

$1.63

$0.05

($0.40)

($1.25)

Daily Change %

 

0.13%

0.27%

-0.04%

-0.16%

London Fixings

AM

$1,252.90

**

$963.00

$788.00

 

PM

$1,251.10

$18.13

$964.00

$787.00

COMEX Trading Volume

158389

55133

11911

2627

Active Month Settlement

$1,256.80

$18.25

$952.50

$790.20

Previous Session

 

$1,258.80

$18.25

$957.40

$792.60

Daily Change

 

($2.00)

$0.00

($4.90)

($2.40)

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

 

0.98222

1.15222

1.42489

1.79817

Gold ATM Vols

 

10.380

12.200

13.17

14.27

Silver ATM Vols

 

17.74

20.16

21.43

22.77

Platinum ATM Vols

15.500

16.250

16.250

16.400

Palladium ATM Vols

23.100

24.100

24.400

24.700

Market Daily & Weekly

Market Snap Shot

29/03/2017

1 Day%

1 Week %

XAU

$1,253.45

0.13

0.37

XAG

$18.24

0.27

3.84

XPT

$954.20

-0.04

-0.98

XPD

$792.00

-0.16

0.35

Euro

1.0766

-0.45

-0.29

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

Fundamentals and News

Return of Brexit Fears Helps Send Gold to Best Quarter in a Year

Angst over possible fallout from Brexit has crept back into the market, helping send gold toward its biggest quarterly gain in a year.

Prime Minister Theresa May set the U.K. on course for leaving the European Union in two years, weakening the pound and bolstering demand for bullion as a haven. Gold priced in sterling rose to the highest in almost four weeks Wednesday, while bullion futures traded in New York headed for the best quarter since the first three months of 2016.

Battle lines are becoming evident nine months after Britons unexpectedly voted to quit the EU.May’s actions trigger two years of talks and come days after the failure of a U.S. health-care bill stoked concerns about prospects for the Trump administration’s economic agenda.

“Traders do not believe that the U.K.’s economy will fare well as negotiations start,” said Naeem Aslam, the chief market analyst at Think Markets U.K. Ltd. “We are seeing more interest in gold. Traders want to hedge themselves.”

Spot gold gained 0.3 percent to 1,008.50 pounds per ounce at 7:09 p.m. in London, according to Bloomberg generic price. Bullion in sterling is on course for an 8.5 percent rally this quarter, the best such performance since the second quarter of 2016.

On the Comex in New York, gold futures priced in dollars are poised for an 9.1 percent gain this quarter, the biggest since March 2016. The metal for June delivery slipped 0.2 percent on Wednesday.

Spot silver priced in pounds and dollars is set for the steepest quarterly advance since June, while palladium and platinum priced in dollars are also poised for quarterly gains.

Exchange-traded funds tracking semiconductors, Brazil, technology, banks and gold and uranium miners are exhibiting the strongest momentum, according to a Bloomberg Intelligence ranking. Value characteristics are greatest for ETFs following sectors such as energy, Italy and mortgage REITs. Financial and Russia ETFs scored high on both measures. Momentum investing seeks to capitalize on investors' tendency to buy securities that are rising. Value investors look for assets that may be undervalued.

The momentum ranking is based on three- and 12-month returns, excluding the past month. ETFs with high returns during those periods tend to continue outperforming for the next few months. The value screen ranks ETFs with the lowest price-to-book ratio.

 

Data Forthcoming Releases

   Time

Country

Today's Events

Forecast

Previous

Actual

4:30pm

USD

Final GDP q/q

2.0%

1.90%

 

4:30pm

USD

Unemployment Claims

244K

261K

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-30th-march-2017

Precious Metals

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