By Carolina Curiel

ScrapMonster Author

Gold Price Bulls Retreat As Fed Hike Looms.

OTC Trading Range For		All Times Are	As Per Dubai	Date	15/05/2017
14/05/2017		Gold	Silver	Platinum	Palladium
Open At 02.00		$1,225.03	$16.34	$918.40	$802.97
High Bid		$1,231.82	$16.49	$926.53	$809.95
Low Offer		$1,224.36	$16.32	$914.68	$802.34
Close At 01.00		$1,228.43	$16.47	$921.28	$807.89
Previous Close		$1,225.04	$16.34	$918.40	$803.12
Daily Change USD		$3.39	$0.13	$2.88	$4.77
Daily Change %		0.28%	0.78%	0.31%	0.59%
London Fixings	AM	$1,227.90	**	$923.00	$804.00
	PM	$1,231.25	$1,630.00	$922.00	$808.00
COMEX Trading Volume		199881	59660	12575	3390
Active Month Settlement		$1,227.70	$16.40	$917.50	$803.50
Previous Session		$1,224.20	$16.27	$917.70	$798.95
Daily Change		$3.50	$0.14	($0.20)	$4.55
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		0.98333	1.14983	1.42628	1.80261
Gold ATM Vols		9.405	10.905	12.048	13.585
Silver ATM Vols		16.845	18.9	20.58	22.345
Platinum ATM Vols		16.500	16.750	16.850	16.900
Palladium ATM Vols		24.550	25.100	25.200	25.350

Market Daily & Weekly

Market Snap Shot	14/05/2017	1 Day%	1 Week %
XAU	$1,228.43	0.28	0.03
XAG	$16.47	0.78	0.75
XPT	$921.28	0.31	0.85
XPD	$807.89	0.59	-0.90
Euro	1.0931	0.64	-0.61

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

Fundamentals and News

Gold Price Bulls Retreat As Fed Hike Looms

Gold bulls are retreating at the fastest pace in more than five years. Gold open interest, a tally of outstanding contracts on Comex futures, on Friday fell for a 10th straight session, the longest stretch since Oct. 5, 2011, data compiled by Bloomberg show.Prices posted a third straight weekly loss.

Gold advanced 0.3 percent to settle at $1,227.70 an ounce in New York for a third straight day of gains. The metal rose 0.1 percent in the week after touching the lowest level since mid-March on Tuesday.

US jobless-benefit rolls are at a 28-year low, a report showed on Thursday, adding to evidence of a tight labor market that is a closely watched indicator by US Federal Reserve officials.

Fed Bank of Boston President Eric Rosengren urged colleagues to raise interest rates three more times this year and consider starting to shrink the central bank’s balance sheet after their next hike.

Bullion futures have fallen more than 5 percent from a five-month high last month as political uncertainty eases in Europe, curbing demand for the metal as a haven.

As investors price a rate hike after the Fed’s meeting next month, yields on 10-year Treasuries have been rising, while the S&P 500 Index of equities has been reaching records, luring more investors away from precious metals.

Gold futures for June delivery rose 0.4 percent to settle at US$1,224.20 an ounce on the Comex in New York. The metal has lost about 3.5 percent this month and is down 2.2 percent for the week..

The dollar fell while Treasuries rallied after tepid data on retail sales and inflation in the

U.S. economy rekindled concern that growth won’t accelerate to levels economists project. U.S. stocks ended the day mixed, gold erased a weekly loss.

Data Forthcoming Releases

Time	Country	Today's Events	Forecast	Previous	Actual
4:30pm	USD	Empire State Manufacturing Index	7.2	5.2
6:00pm	USD	NAHB Housing Market Index	68	68
11:00pm	GBP	Prime Minister May Speaks

Courtesy: http://kalotipm.com.sg/kaloti-market-report-15th-may-2017

Kaloti Precious Metals-Morning Market Report-Monday, May 15, 2017

By Carolina Curiel