OTC Trading Range For | All Times Are | As Per Dubai | Date | 27/03/2017 | |
24/03/2017 |
| Gold | Silver | Platinum | Palladium |
Open At 03.00 |
| $1,245.20 | $17.58 | $962.50 | $802.14 |
High Bid |
| $1,251.97 | $17.78 | $968.94 | $816.00 |
Low Offer |
| $1,241.04 | $17.53 | $955.90 | $799.66 |
Close At 02.00 |
| $1,243.57 | $17.76 | $964.67 | $809.50 |
Previous Close |
| $1,245.20 | $17.58 | $962.50 | $801.93 |
Daily Change USD | ($1.63) | $0.18 | $2.17 | $7.57 | |
Daily Change % |
| -0.13% | 1.01% | 0.22% | 0.94% |
London Fixings | AM | $1,244.00 | ** | $959.00 | $803.00 |
| PM | $1,247.50 | $17.63 | $964.00 | $816.00 |
COMEX Trading Volume | 207568 | 42178 | 13603 | 4129 | |
Active Month Settlement | $1,248.50 | $18.93 | $967.90 | $813.35 | |
Previous Session |
| $1,247.20 | $17.59 | $963.80 | $800.15 |
Daily Change |
| $1.30 | $1.34 | $4.10 | $13.20 |
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 |
| 0.98278 | 1.15128 | 1.42711 | 1.80289 |
Gold ATM Vols |
| 11.050 | 12.550 | 13.36 | 14.56 |
Silver ATM Vols |
| 18.3 | 20.1 | 21.36 | 22.6 |
Platinum ATM Vols | 16.000 | 16.100 | 16.300 | 16.500 | |
Palladium ATM Vols | 22.800 | 23.700 | 24.300 | 24.700 |
Market Daily & Weekly
Market Snap Shot | 24/03/2017 | 1 Day% | 1 Week % |
XAU | $1,243.57 | -0.13 | 1.15 |
XAG | $17.76 | 1.01 | 2.03 |
XPT | $964.67 | 0.22 | -0.03 |
XPD | $809.50 | 0.94 | 4.06 |
Euro | 1.0798 | 0.56 | 0.56 |
Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
Despite The Rise In The Gold Price, Gold Speculators Did Something Very Strange Last Week
The gold price rose 3% during the last COT reporting period.
Despite that large rise in the gold price, speculative longs only added a little over 17,000 contracts which is lower than we would have expected.
Surprisingly, speculative shorts added to their short positions during this large rise in the gold price which is very unusual.
Despite the rise in the net speculative long position, the historical net speculative position in gold remains low.
Speculative US Dollar traders added to their own net long position in the USD to the highest levels since January, which is USD-bearish and gold-positive for contrarians.
The latest Commitment of Traders (COT) report showed a decent increase in speculative long positions, which was expected due to this report's inclusion of last week's change in gold post-Fed meeting. But surprisingly enough, this report showed that speculative shorts increased their positions despite the 3% rise in gold during the COT week.
That is a bit unusual as we tend to see speculative positions mirror the gold price (rising gold means rising longs and falling shorts), and that is especially the case on big (2%+) moves in the weekly gold price. The only times we usually see the opposite is when the net speculative position is at extremes like back in July of 2016 when the net speculative position was hovering at record levels - but at current levels we are actually at fairly low speculative net long levels.
Data Forthcoming Releases
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| Time | Country | Today's Events | Forecast | Previous |
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| Actual |
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| 9:15pm | USD | FOMC Member Evans Speaks |
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| *Dubai Time |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-27th-march-2017
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