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Gold January 17, 2017 12:30:23 AM

Kaloti Precious Metals-Morning Market Report-Tuesday, January 17, 2017

Anil Mathews
ScrapMonster Author
Brexit Plans Rattle Pound and Stocks as Gold Rises

Kaloti Precious Metals-Morning Market Report-Tuesday, January 17, 2017

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

17/01/2017

16/01/2017

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,197.21

$16.80

$984.70

$750.95

High Bid

 

$1,208.72

$16.92

$990.16

$754.65

Low Offer

 

$1,196.86

$16.75

$980.95

$737.49

Close At 02.00

 

$1,202.73

$16.81

$982.75

$745.57

Previous Close

 

$1,197.34

$16.82

$984.85

$751.62

Daily Change USD

$5.39

($0.01)

($2.10)

($6.05)

Daily Change %

 

0.45%

-0.06%

-0.21%

-0.81%

London Fixings

AM

$1,202.75

**

$983.00

$740.00

 

PM

$1,203.00

$16.82

$984.00

$745.00

COMEX Trading Volume

-

-

-

-

Active Month Settlement

-

-

-

-

Previous Session

 

-

-

-

-

Daily Change

 

-

-

-

-

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

 

0.76833

1.02317

1.33156

1.69844

Gold ATM Vols

 

13.513

14.023

15.215

16.343

Silver ATM Vols

 

22.165

23.438

24.93

25.985

Platinum ATM Vols

19.350

18.900

18.850

18.800

Palladium ATM Vols

30.000

28.000

26.900

26.100

Market Daily & Weekly

Market Snap Shot

16/01/2017

1 Day%

1 Week %

XAU

$1,202.73

0.45

1.80

XAG

$16.81

-0.06

1.49

XPT

$982.75

-0.21

0.52

XPD

$745.57

-0.81

-1.62

Euro

1.0601

-0.40

0.25

 

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

Fundamentals and News

Brexit Plans Rattle Pound and Stocks as Gold Rises

 

  • The pound fell, equities slid and gold climbed on concern U.K. Prime Minister Theresa May is prepared to lead Britain out of the European Union’s single market and as the U.S. President-elect suggested other countries could break from the bloc.

 

  • Sterling fell below $1.20 for the first time since October after the Sunday Times said May is ready to withdraw from tariff-free trade with the region in return for the ability to curb immigration and strike commercial deals with other countries. Banks were among the biggest losers in European stocks after Goldman Sachs Group Inc. downgraded Royal Bank of Scotland Group Plc, citing exposure to volatile politics. U.S. markets are closed Monday due to a holiday.

 

  • Caution dominated markets amid tough talk from May and Donald Trump about Europe’s economic and political institutions. British government officials trying to limit damage to the pound will speak to major banks in London before the U.K. leader sets out her vision for leaving the bloc in a speech on Tuesday, according to people familiar with the situation. Meanwhile Trump predicted that Britain’s exit will be a success that will encourage others to do the same.

He also branded NATO obsolete.

  • “Markets are trading in risk aversion mode,” said Neil Jones, the head of hedge-fund sales at Mizuho Bank Ltd in London. “Investors and corporates around the world are concerned by the prospect of a hard Brexit. Pound rallies are limited and weak, while plunges are harsh and prolonged.”

 

  • The U.K. currency traded 1.1 percent lower to $1.2052 at 2:38 p.m. in New York after touching $1.1986, its weakest level since October. Overnight implied volatility in the pound against the dollar climbed to a five-month high before May’s speech. The measure briefly exceed 30 percent, a level only breached before three events in 2016 -- Britain’s EU vote and the Bank of England’s July and August meetings.

 

  • The euro dropped 0.4 percent to $1.0604. The yen rose 0.3 percent to 114.13 per dollar, extending gains for the longest winning streak since June.

 

 

Data Forthcoming Releases

v Data Forthcoming Releases:

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

 

Previous

 

Actual

 

5:30pm

USD

Empire State Manufacturing Index

8.1

 

9.0

 

 

 

5:45pm

USD

FOMC Member Dudley Speaks

 

 

 

 

 

 

Tentative

NZD

GDT Price Index

 

 

-3.9%

 

 

 

Tentative

GBP

Prime Minister May Speaks

 

 

 

 

 

 

7:00pm

USD

Treasury Sec Lew Speaks

 

 

 

 

 

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

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