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Kaloti Precious Metals-Morning Market Report-Monday, May 15, 2017
May 16,2017 09:47CST
industry news
Gold Price Bulls Retreat As Fed Hike Looms.

By 

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

Precious Metals

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