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Gold March 28, 2017 12:30:39 AM

Kaloti Precious Metals-Morning Market Report-Tuesday, March 28, 2017

Carolina Curiel
ScrapMonster Author
Trump Stumble Propels Gold Toward Key Level in Haven Revival

Kaloti Precious Metals-Morning Market Report-Tuesday, March 28, 2017

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

28/03/2017

27/03/2017

 

Gold

Silver

Platinum

Palladium

Open At 03.00

 

$1,246.04

$17.78

$964.40

$811.83

High Bid

 

$1,261.08

$18.13

$983.00

$812.32

Low Offer

 

$1,246.04

$17.78

$964.10

$793.95

Close At 02.00

 

$1,254.86

$18.11

$968.40

$795.15

Previous Close

 

$1,243.57

$17.76

$964.67

$809.50

Daily Change USD

$11.29

$0.35

$3.73

($14.35)

Daily Change %

 

0.90%

1.93%

0.39%

-1.80%

London Fixings

AM

$1,256.90

**

$959.00

$803.00

 

PM

$1,257.55

$17.94

$964.00

$816.00

COMEX Trading Volume

70175

58605

21444

5120

Active Month Settlement

$1,258.80

$18.10

$969.00

$794.45

Previous Session

 

$1,251.70

$17.74

$967.90

$813.35

Daily Change

 

$7.10

$0.36

$1.10

($18.90)

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

 

11.360

12.730

13.57

14.54

Silver ATM Vols

 

18.03

20.07

21.39

22.66

Platinum ATM Vols

15.900

16.050

16.300

16.500

Palladium ATM Vols

22.550

23.650

24.300

24.700

Market Daily & Weekly

Market Snap Shot

27/03/2017

1 Day%

1 Week %

XAU

$1,254.86

0.90

1.64

XAG

$18.11

1.93

3.75

XPT

$968.40

0.39

-0.23

XPD

$795.15

-1.80

1.66

Euro

1.0864

0.61

1.15

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

Fundamentals and News

Trump Stumble Propels Gold Toward Key Level in Haven Revival

Gold futures climbed to the highest in a month as demand for haven assets surged after a failed U.S. health-care bill stoked concern over the outlook for President Donald Trump’s economic agenda.

Bullion closed near its 200-day moving average as a gauge of the dollar dropped to the lowest since November. Yields on 10-year notes sunk to the least in a month, while

U.S. equities declined for a third day. Gold hasn’t closed above the 200-day level since Nov. 7, the day before Trump was elected.

Bullion is up just over 9 percent this year, weathering an improving economic outlook that sent equities to record highs this month. Traders have turnedmore bullish on the metal as the aborted effort to replace the current health-care law calls into question prospects for tax reform and infrastructure spending that Trump has also promised. Commerzbank AG said a lasting rise above the 200-day threshold could spur follow-up buying.

“The Trump administration’s failure to get anything done on health-care reform has people concerned,” said Brad Yates, head of trading for Elemetal, one of the biggest U.S. gold refiners.

“Some of the U.S. equity bullishness has been based on expectations the Trump administration will be pro-growth and pro-business, with fewer regulations. We’re seeing some of the optimism around that outcome unwinding a little bit.”

Gold futures for June delivery rose 0.6 percent to settle at $1,258.80 an ounce at 1:40 p.m. on the Comex in New York. The metal touched $1,264.20, the highest since Feb. 27 and above the 200-day level of $1,263.04.

“Any boost to the U.S. economy brought about by tax cuts and infrastructural measures would not materialize so quickly, which should in turn have a positive impact on gold,” Commerzbank analysts including Carsten Fritsch said in a report Monday.

Data Forthcoming Releases

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

 

 

6:00pm

USD

CB Consumer Confidence

113.9

114.8

*Dubai Time

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-28th-march-2017

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