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Silver January 02, 2017 01:00:20 AM

Kaloti Precious Metals-Morning Market Report-Friday, December 30, 2016

Anil Mathews
ScrapMonster Author
China’s Gold Imports Drop to Lowest Since January as Yuan Falls.

Kaloti Precious Metals-Morning Market Report-Friday, December 30, 2016

OTC Trading Range For

All Times Are

As Per Dubai

Date

30/12/2016

29/12/2016

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,141.67

$15.97

$903.45

$671.66

High Bid

 

$1,159.48

$16.08

$907.93

$679.39

Low Offer

 

$1,141.64

$15.81

$891.94

$665.71

Close At 02.00

 

$1,158.19

$16.16

$898.75

$667.32

Previous Close

 

$1,141.67

$16.02

$903.70

$671.92

Daily Change USD

$16.52

$0.14

($4.95)

($4.60)

Daily Change %

 

1.43%

0.87%

-0.55%

-0.69%

London Fixings

AM

$1,146.80

**

$903.00

$671.00

 

PM

$1,145.90

$15.85

$899.00

$675.00

COMEX Trading Volume

152760

40817

5519

2022

Active Month Settlement

$1,158.10

$16.21

$897.80

$675.65

Previous Session

 

$1,140.90

$16.03

$899.60

$666.85

Daily Change

 

$17.20

$0.18

($1.80)

$8.80

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

 

0.77

0.99817

1.31767

1.69011

Gold ATM Vols

 

13.880

14.710

15.62

16.59

Silver ATM Vols

 

25.37

26

26.02

26.42

Platinum ATM Vols

21.250

20.400

19.400

18.800

Palladium ATM Vols

29.000

28.300

27.150

26.700

 

Market Daily & Weekly

Market Snap Shot

29/12/2016

1 Day%

1 Week %

XAU

$1,158.19

1.43

2.29

XAG

$16.02

0.37

0.56

XPT

$898.75

-0.55

-2.64

XPD

$667.32

-0.69

-0.02

Euro

1.049

0.73

0.51

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

Fundamentals and News

China’s Gold Imports Drop to Lowest Since January as Yuan Falls

 

  • China, the world’s biggest gold consumer, reduced bullion imports from Hong Kong for the first time in three months in November as a weaker yuan curbed purchases and investors sought riskier assets.

 

  • Net purchases were about 40.6 metric tons, the lowest since January, from 60.4 tons in October and 66.8 tons in the same month last year, according to data from the Hong Kong Census and Statistics Department compiled by Bloomberg. The mainland bought 63.9 tons compared with 67.2 tons in October, while exports were 23.2 tons from 6.7 tons. Mainland China doesn’t publish the data.

 

 

  • Global gold prices fell 8.1 percent in November, the most since 2013, as the near-certainty of higher U.S. interest rates following the election of Donald Trump as president stoked optimism about the economy and sent equities to records. Higher rates weigh on non-interest bearing bullion. With China grappling with a weakening yuan, investors may have been waiting for a further drop in prices as riskier assets became more attractive, said Helen Lau, a Hong Kong-based analyst at Argonaut Securities (Asia) Ltd.

 

  • Gold prices rose, posting the largest daily gain in three months. A concurrent side-by-sidedecline in the US Dollar and front-end Treasury bond yields points to an increase in the relative appeal of anti-fiat and non-interest-bearing assets. That move followed the release of US trade data that showed the deficit unexpectedly widened to $65.3 billion in November, the largest since March 2015. Economists projected that the shortfall would narrow from $62 to $61.6 billion ahead of the announcement.

 

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

6:45pm

USD

Chicago PMI

56.5

57.6

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-30th-december-2016

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