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Gold April 20, 2017 12:30:46 AM

Kaloti Precious Metals-Morning Market Report-Thursday, April 20, 2017

Carolina Curiel
ScrapMonster Author
Barrick Gold’s planned sale of a 50% stake in Australia’s Kalgoorlie mine has been pushed out further.
Kaloti Precious Metals-Morning Market Report-Thursday, April 20, 2017

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

20/04/2017

19/04/2017

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,289.74

$18.30

$985.45

$775.15

High Bid

 

$1,291.14

$18.33

$986.65

$780.06

Low Offer

 

$1,274.27

$18.10

$974.92

$773.75

Close At 02.00

 

$1,280.21

$18.14

$975.80

$777.97

Previous Close

 

$1,289.76

$18.30

$984.02

$773.83

Daily Change USD

($9.55)

($0.16)

($8.22)

$4.14

Daily Change %

 

-0.75%

-0.88%

-0.84%

0.53%

London Fixings

AM

$1,282.05

**

$983.00

$790.00

 

PM

$1,279.05

$18.22

$985.00

$789.00

COMEX Trading Volume

255131

22212

16561

4945

Active Month Settlement

$1,293.10

$18.42

$970.30

$775.60

Previous Session

 

$1,294.10

$18.35

$978.60

$771.00

Daily Change

 

($1.00)

$0.07

($8.30)

$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

 

0.99278

1.15622

1.39767

1.76122

Gold ATM Vols

 

14.100

13.290

13.85

14.59

Silver ATM Vols

 

20.25

20.26

21.42

22.51

Platinum ATM Vols

15.800

15.750

16.050

16.200

Palladium ATM Vols

23.700

23.750

24.350

24.850

Market Daily & Weekly

Market Snap Shot

19/04/2017

1 Day%

1 Week %

XAU

$1,280.21

-0.75

-0.51

XAG

$18.14

-0.88

-1.93

XPT

$975.80

-0.84

0.52

XPD

$777.97

0.53

-3.04

Euro

1.0711

-0.18

0.43

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

Fundamentals and News

Newmont gets fresh shot at top gold miner spot

Barrick Gold’s (TSX, NYSE:ABX) planned sale of a 50% stake in Australia’s Kalgoorlie mine has been pushed out further after Minjar Gold, the Chinese bidder, walked away from the deal citing new capital controls instituted by Beijing.

Perth-based Minjar Gold, a unit of Shanghai-listed Shandong Tyan has also been struggling to secure funding for the deal worth as much as $1.5 billion. Its biggest offshore acquisition was Evolution Mining's (ASX:CAH) Pajingo mine for $40 million back in 2015.

Barrick president Kelvin Dushnisky told Reuters in February the Toronto-based company, the world's top gold miner by output, would be "happy sellers" at the right price, but would also be "very happy to continue to own that asset".

World number two Newmont Mining owns the other half and Barrick handed over operational control of the the iconic mine called the Super Pit to Newmont in May 2015.

Denver-based Newmont would be the natural buyer and has expressed interest in the mine, Australia's largest gold open pit, in the past. Kalgoorlie produced just over 750,000 ounces last year.

Newmont has first right of refusal on the stake sale, but Barrick could circumvent that by selling shares in Kalgoorlie's holding company KCGM.

Valuation of Kalgoorlie is all over the place with analyst estimates varying between $400 million to about $1.5 billion. Reserves at the mine top 7.5 million ounces.

The Super Pit is expected to be depleted of ore by the end of the decade but underground mining could continue after that. KCGM also operates the 56,000oz per year Mt Charlotte mine 3km from the Super Pit.

Should a transaction between the companies take place it would push Newmont past Barrick as the world's largest gold company in terms of output.

Data Forthcoming Releases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

 

 

4:30pm

USD

Philly Fed Manufacturing Index

25.6

32.8

 

 

 

4:30pm

USD

Unemployment Claims

241K

234K

 

 

 

9:15pm

USD

Treasury Sec Mnuchin Speaks

0.00%

0.00%

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-20th-april-2017

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