Loading price data...
Scrap Monster
Olympus-ims.com
XRF Spectro
Gold April 21, 2017 12:30:00 AM

Kaloti Precious Metals-Morning Market Report-Friday, April 21, 2017

Anil Mathews
ScrapMonster Author
The fund, led by Fred Fromm and Stephen Land, boosted its investment in Alamos Gold Inc. and cut OceanaGold Corp.
Kaloti Precious Metals-Morning Market Report-Friday, April 21, 2017

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

21/04/2017

20/04/2017

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,280.21

$18.14

$968.80

$777.68

High Bid

 

$1,283.52

$18.23

$980.29

$806.09

Low Offer

 

$1,276.71

$17.87

$966.20

$777.14

Close At 02.00

 

$1,281.90

$18.03

$979.17

$803.84

Previous Close

 

$1,280.21

$18.14

$967.45

$777.97

Daily Change USD

$1.69

($0.11)

$11.72

$25.87

Daily Change %

 

0.13%

-0.61%

1.20%

3.22%

London Fixings

AM

$1,279.90

**

$975.00

$775.00

 

PM

$1,282.10

$18.19

$979.00

$779.00

COMEX Trading Volume

238387

41657

14211

8142

Active Month Settlement

$1,283.80

$18.09

$981.20

$802.90

Previous Session

 

$1,283.40

$18.24

$970.30

$775.60

Daily Change

 

$0.40

($0.15)

$10.90

$27.30

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

 

0.99111

1.15567

1.39072

1.73567

Gold ATM Vols

 

13.430

12.980

13.57

14.36

Silver ATM Vols

 

19.76

20.12

21.3

22.48

Platinum ATM Vols

15.200

15.750

16.100

16.170

Palladium ATM Vols

23.000

23.750

24.300

24.850

 

Market Daily & Weekly

Market Snap Shot

20/04/2017

1 Day%

1 Week %

XAU

$1,281.90

0.13

-0.47

XAG

$18.03

-0.61

-2.83

XPT

$979.17

1.20

0.57

XPD

$803.84

3.22

0.88

Euro

1.0717

0.06

0.97

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

Fundamentals and News

Downside Bund vs Depressed Upside Gold May Cover French Outcomes

Bund downside may increase with Melenchon unable to make further ground in French election polls, while depressed gold upside optionality could take care of tail risks, Bloomberg strategist Tanvir Sandhu writes.

Downside bund options may come into focus amid the coiling of risk with June 160.50 put equivalent to generic yield of about 40bp expiring May 26

Gold implieds trading at relatively low levels given depressed realized vols in both gold and U.S. real rates, even as geopolitical tensions in Syria and North Korea and risk of potential U.S. government shutdown remain; see chart here

Low entry point for OTM short-dated gold call options may offset downside costs on bunds in case of rise in political risks, with three-month 25-delta call at 14 vol, in the bottom quartile of 2-year range

Cross vol gold spread with bunds may appeal given the low cost of optionality in gold and its attractiveness as a hedging tool against risk-off events relative to SPX

Conviction for outright bund shorts remains limited as French political risk stays fluid and with high number of undecided voters; extreme tail risk is that both Le Pen and Melenchon get through the first round.

Implied probability of Le Pen victory based on betting odds is at the lows while therecent recovery of Fillon in the polls brings back the probability of Fillon vs Macron, which will see bund political risk premia collapse if realized.

Franklin Gold and Precious Metals Fund added Asanko Gold Inc. to its investments and exited G-Resources Group Ltd. in the first quarter.

The fund, led by Fred Fromm and Stephen Land, boosted its investment in Alamos Gold Inc. and cut OceanaGold Corp., according to a quarterly update by the investment company analyzed by Bloomberg Global Data. Newcrest Mining Ltd. was the biggest holding, representing 5.3 percent of the fund.

Data Forthcoming Releases

 

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

 

Actual

 

 

 

 

 

 

 

 

 

 

 

5:30pm

USD

FOMC Kashkari Speaks

 

 

 

 

 

 

6:00pm

USD

Existing Home Sales

5.61M

5.48M

 

 

 

 

 

 

 

 

*Dubai Time

 

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-21st-april-2017

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox