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Gold April 27, 2017 07:30:48 AM

Kaloti Precious Metals-Morning Market Report-Thursday, April 27, 2017

Carolina Curiel
ScrapMonster Author
The White House made its opening bid for what officials called the “biggest tax cut” in U.S. history.

Kaloti Precious Metals-Morning Market Report-Thursday, April 27, 2017

 

 

 

 

 

 

OTC Trading Range For

All Times Are

As Per Dubai

Date

27/04/2017

26/04/2017

 

Gold

Silver

Platinum

Palladium

Open At 02.00

 

$1,264.08

$17.60

$961.08

$801.64

High Bid

 

$1,270.28

$17.65

$965.21

$812.60

Low Offer

 

$1,260.06

$17.32

$950.30

$799.35

Close At 01.00

 

$1,269.22

$17.49

$955.84

$811.09

Previous Close

 

$1,264.13

$17.60

$961.30

$801.20

Daily Change USD

$5.09

($0.11)

($5.46)

$9.89

Daily Change %

 

0.40%

-0.63%

-0.57%

1.22%

London Fixings

AM

$1,264.95

**

$957.00

$791.00

 

PM

$1,261.85

$17.59

$954.00

$795.00

COMEX Trading Volume

234131

65854

14482

3922

Active Month Settlement

$1,264.20

$17.43

$948.00

$805.15

Previous Session

 

$1,267.20

$17.65

$957.60

$796.65

Daily Change

 

($3.00)

($0.22)

($9.60)

$8.50

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

 

0.98333

1.14983

1.42628

1.80261

Gold ATM Vols

 

10.830

11.560

12.45

13.57

Silver ATM Vols

 

17.45

19.09

20.58

22.12

Platinum ATM Vols

14.450

15.500

15.950

16.050

Palladium ATM Vols

22.300

23.200

23.550

24.100

Market Daily & Weekly

Market Snap Shot

26/04/2017

1 Day%

1 Week %

XAU

$1,269.22

0.40

-0.87

XAG

$17.49

-0.63

-3.72

XPT

$955.84

-0.57

-2.09

XPD

$811.09

1.22

4.08

Euro

1.0904

-0.20

1.77

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

Fundamentals and News

White House Unveils Opening Bid for `Biggest Tax Cut'

The White House made its opening bid for what officials called the “biggest tax cut” in U.S. history -- with cuts that would benefit businesses, the middle class and certain high-earning individuals -- but left unanswered questions about whether the plan would be paid for, or how.

A list of goals for the tax overhaul, unveiled by President Donald Trump’s top economic adviserGary Cohn and Treasury Secretary Steven MnuchinWednesday, calls for slashing the federal income-tax rate to 15 percent for corporations, small businesses and partnerships of all sizes. It alsoimposes a one-time tax on about $2.6 trillion in earnings that U.S. companies have parked overseas. The plan would end the taxation of corporations’ offshore income by moving to a territorial system, in which most foreign profits would be exempt from U.S. taxes. Currently, the U.S. taxes business income no matter where it’s earned.

On the individual side, it proposes condensing the existing seven income-tax rates to just three, cutting the individual top rate to 35 percent from 39.6 percent. It would also end a 3.8 percent net investment income tax that applies only to individuals who earn more than $200,000 a year, repeal the alternative minimum tax and eliminate the estate tax, which currently applies only to estates worth more than $5.49 million for individuals and $10.98 million for couples.

At the same time, the plan would eliminate the federal income-tax deductionallowed for state and local taxes -- a provision that would hit high earners in high-tax states, including New York and New Jersey. The only itemized deductions that would be preserved under the plan would be for home mortgage interest and charitable contributions.

“We are determined to move as fast as we can and get this done this year,” Mnuchin said.

The move to tax partnerships, limited liability companies and other so-called “pass-throughs” at 15 percent would represent a major tax cut for many businesses -- from mom-and-pop grocers to hedge funds -- including Trump’s own business empire. Under current law, those companies pass their earnings and deductions through to their owners, who then are taxed at their individual income tax rates.

Data Forthcoming Releases

 

 

 

 

 

 

 

 

 

Time

Country

Today's Events

Forecast

Previous

Actual

 

 

   3:45pm

EUR

Minimum Bid Rate

0.00%

0.00%

 

 

 

4:30pm

EUR

ECB Press Conference

 

 

 

 

 

4:30pm

USD

Core Durable Goods Orders m/m

0.40%

0.50%

 

 

 

4:30pm

USD

Unemployment Claims

241K

244K*Dubai Time

 

 

 

 

 

 

 

 

 

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-27th-april-2017

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