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Gold February 17, 2017 12:30:06 AM

Kaloti Precious Metals-Morning Market Report-Friday, February 17, 2017

Anil Mathews
ScrapMonster Author
Gold Bulls More Confident in Price Rally, Narrowing Price Swings.
Kaloti Precious Metals-Morning Market Report-Friday, February 17, 2017

 

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

17/02/2017

 

16/02/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,233.70

 

$17.98

 

$1,011.45

 

$788.96

 

High Bid

 

$1,242.46

 

$18.14

 

$1,018.59

 

$795.65

 

Low Offer

 

$1,232.21

 

$17.94

 

$1,008.95

 

$786.75

 

Close At 02.00

 

$1,239.04

 

$18.09

 

$1,012.76

 

$792.78

 

Previous Close

 

$1,233.70

 

$17.98

 

$1,011.35

 

$789.35

 

Daily Change USD

$5.34

 

$0.11

 

$1.41

 

$3.43

 

Daily Change %

 

0.43%

 

0.61%

 

0.14%

 

0.43%

 

London Fixings

AM

$1,236.75

 

**

 

 

$1,012.00

 

$790.00

 

 

PM

$1,240.55

 

$18.10

 

$1,013.00

 

$791.00

 

COMEX Trading Volume

194429

 

70661

 

11574

 

3589

 

Active Month Settlement

$1,241.60

 

$18.07

 

$1,015.70

 

$793.30

 

Previous Session

 

$1,233.10

 

$17.96

 

$1,009.90

 

$786.20

 

Daily Change

 

$8.50

 

$0.11

 

$5.80

 

$7.10

 

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

 

0.77222

 

1.04178

 

1.34406

 

1.72400

 

Gold ATM Vols

 

12.540

 

14.188

 

15.105

 

16.235

 

Silver ATM Vols

 

21.56

 

22.93

 

24.287

 

25.673

 

Platinum ATM Vols

18.500

 

18.350

 

18.450

 

18.400

 

Palladium ATM Vols

29.000

 

27.400

 

26.650

 

26.250

 

Market Daily & Weekly

Market Snap Shot

 

16/02/2017

 

1 Day%

 

1 Week %

 

XAU

 

 

$1,239.04

 

0.43

 

0.86

 

XAG

 

 

$18.09

 

 

0.61

 

2.49

 

XPT

 

 

$1,012.76

 

0.14

 

-0.17

 

XPD

 

 

$792.78

 

 

0.43

 

2.94

 

Euro

 

 

1.0674

 

 

0.68

 

0.18

 

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

Fundamentals and News

Gold Bulls More Confident in Price Rally, Narrowing Price Swings

 

  • By one measure, gold bulls seem to be gaining more confidence in the price rebound from the metal’s worst quarterly performance in more than three years.

 

  • The 30-day historical volatility, which measures price swings in gold futures, fell to the lowest since September, as the metal gained more than 7 percent this year. Holdings in SPDR Gold Shares, the largest exchange-traded fund backed by bullion, have steadily risen to the highest in two months. Gold has rallied even with global equities at record highs.

 

  • Investors are looking past expectations for monetary tightening by the Federal Reserve amid speculation that inflation will rise faster than interest rates, said George Gero at RBC Wealth Management. On Wednesday, U.S. Labor Department figures showed consumer prices increased in January by the most since February 2013. In Germany, the euro-area’s biggest economy, inflation rose last month to the highest rate since mid-2013.

 

  • “Ignoring headwinds is a bullish sign,” Gero, a New York-based managing director at RBC, said in a telephone interview. “People are starting to see inflation in the economic figures. On top of everything else, there’s a whole lot of political questions coming up in the euro zone,” with elections set in the Netherlands, France and Germany, he said.

 

  • Gold futures for April delivery gained 0.7 percent to settle at $1,241.60 an ounce at 1:36 p.m. on the Comex in New York, taking this year’s rally for most-active contracts to 7.8 percent.

 

  • Bullion has traditionally been used as a hedge against inflation. Prices of the metal have risen in the past two days even after Fed Chair Janet Yellen said more interest rates increases will be appropriate if the U.S. economy meets the central bank’s outlook for gradually rising inflation and tightening labor markets.

 

Data Forthcoming Releases

 

Time

 

 

 

 

 

 

 

Country

Today's Events

Forecast

Previous

Actual

 

 

1:30pm

GBP

Retail Sales m/m

1.0%

-1.9%

 

 

 

5:30

CAD

Foreign Securities Purchases

11.59B

7.24B

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-17th-february-2017

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