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Kaloti Precious Metals-Morning Market Report- Thursday, May 18, 2017
May 19,2017 10:37CST
industry news
Gold Rallies as Trump's `Toughest Time' in Office Batters Dollar

By 

ScrapMonster Author

Gold Rallies as Trump's `Toughest Time' in Office Batters Dollar

OTC Trading Range For

All Times Are

As Per Dubai

Date

18/05/2017

17/05/2017

 

Gold

Silver

Platinum

Palladium

Open At 02.00

 

$1,237.48

$16.86

$946.40

$796.48

High Bid

 

$1,261.48

$17.04

$948.91

$800.45

Low Offer

 

$1,236.55

$16.77

$939.00

$778.50

Close At 01.00

 

$1,261.36

$16.91

$946.40

$784.63

Previous Close

 

$1,237.24

$16.86

$941.36

$796.47

Daily Change USD

$24.12

$0.05

$5.04

($11.84)

Daily Change %

 

1.91%

0.29%

0.53%

-1.51%

London Fixings

AM

$1,244.60

**

$939.00

$788.00

 

PM

$1,257.40

$16.90

$944.00

$781.00

COMEX Trading Volume

367710

119472

15276

8523

Active Month Settlement

$1,258.70

$16.91

$946.10

$777.00

Previous Session

 

$1,236.40

$16.75

$937.00

$792.00

Daily Change

 

$22.30

$0.16

$9.10

($15.00)

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

 

10.615

11.590

12.785

14.195

Silver ATM Vols

 

17.757

18.93

20.638

22.425

Platinum ATM Vols

16.350

16.750

16.750

16.950

Palladium ATM Vols

24.250

24.700

25.000

25.150

Market Daily & Weekly

Market Snap Shot

17/05/2017

1 Day%

1 Week %

XAU

 

$1,261.36

1.91

3.35

XAG

 

$16.91

 

0.29

4.18

XPT

 

$946.40

0.53

3.71

XPD

 

$784.63

-1.51

-1.67

Euro

 

1.1159

 

0.68

-67.40

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

Fundamentals and News

Gold Rallies as Trump's `Toughest Time' in Office Batters Dollar

Bullion’s gains are largely due to weaker dollar, OCBC says

Gold rises amid suggestion Trump may have obstructed justice

Gold’s getting a boost from the turmoil surrounding Donald Trump’s administration.

The metal climbed for a fifth day, the longest run in a month, on reports that the president asked FBI Director James Comey to drop an investigation into a former National Security Adviser. The dollar has dropped and European stocks fell amid the latest controversy, which prompted references to the 1970s Watergate scandal that helped to sink the then president, Richard Nixon.

Trump “perhaps is facing his toughest time in the office. Investors are questioning whether there is “any possibility of impeachment becoming a reality, because certainly that would hit the confidence massively.”

Bullion for immediate delivery climbed as much as 1.9 percent to a two-week high of $1,260.38 an ounce, and was at $1,259.20 by 1:56 p.m. in New York, according to Bloomberg generic pricing. That takes this year’s gain to about 8.7 percent.

In New York, gold futures for June delivery had a sixth straight gain on the Comex, the longest rally since August.

Gold has risen after Trump’s firing of the FBI director a week ago and following reports that Trump shared intelligence with RussiaSilver for immediate delivery headed for a sixth straight gain, the longest run since March

Silver for immediate delivery headed for a sixth straight gain, the longest run since March. Spot palladium fell for a third day. Spot platinum rose for a sixth day, the longest stretch since February.

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

5:30am

AUD

Employment Change

4.5K

60.9K

 

12:30pm

GBP

Retail Sales m/m

1.2%

-1.8%

 

4:30pm

USD

Unemployment Claims

240K

236K

 

9:00pm

EUR

ECB President Draghi Speaks

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-18th-may-2017

Precious Metals

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