Kaloti Precious Metals-Morning Market Report-Wednesday, September 28, 2016
Gold prices may drop further but still good to own in time.
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OTC Trading Range For | All Times Are |
| As Per Dubai |
| Date | 28/09/2016 | ||||
27/09/2016 |
|
| Gold |
| Silver |
| Platinum | Palladium | ||
Open At 02.00 |
| $1,337.95 |
| $19.44 |
| $1,039.95 |
| $694.18 | ||
High Bid |
| $1,339.68 |
| $19.45 |
| $1,047.91 |
| $702.60 | ||
Low Offer |
| $1325.50 |
| $18.98 |
| $1,021.42 |
| $691.01 | ||
Close At 01.15 |
| $1,327.32 |
| $19.14 |
| $1,026.35 |
| $700.20 | ||
Previous Close |
| $1,337.95 |
| $19.44 |
| $1,039.95 |
| $694.18 | ||
Daily Change USD | ($10.63) |
| ($0.30) |
| ($13.60) |
| $6.02 | |||
Daily Change % |
| -0.80% |
| -1.57% |
| -1.33% |
| 0.86% | ||
London Fixings | AM | $1,335.85 |
| ** |
| $1,040.00 |
| $694.00 | ||
| PM | $1,327.00 |
| $19.42 |
| $1,033.00 |
| $691.00 | ||
COMEX Trading Volume | $176,980.00 |
| $65,155.00 |
| $20,428.00 |
| $4,271.00 | |||
Active Month Settlement | $1,330.40 |
| $19.17 |
| $1,029.30 |
| $701.05 | |||
Previous Session |
| $1,344.10 |
| $19.60 |
| $1,042.90 |
| $696.15 | ||
Daily Change |
| ($13.70) |
| ($0.44) |
| ($13.60) |
| $4.90 | ||
EFP's |
| 3.7/4.0 |
| 6/8 |
| 1/3 |
| 0/1 | ||
Forwards & Options | 1 Month |
| 3 months |
| 6 months | 12 months | ||||
GOFO |
| - |
| - |
|
| - |
| - | |
USD LIBOR |
| 0.52444 |
| 0.85294 |
| 1.24444 |
| 1.55522 | ||
Gold ATM Vols |
| 12.620 |
| 14.568 |
| 15.325 |
| 16.333 | ||
Silver ATM Vols |
| 22.99 |
| 24.533 |
| 25.627 |
| 27.18 | ||
Platinum ATM Vols | 18.100 |
| 18.450 |
| 17.650 |
| 17.650 | |||
Palladium ATM Vols | 27.550 |
| 28.000 |
| 26.450 |
| 26.600 |
Market Daily & Weekly
v Market Daily & Weekly: |
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Market Snap Shot |
| 27/09/2016 |
| 1 Day% |
| 1 Week % | |||
XAU |
|
| $1,327.32 |
| -0.80 |
| 0.94 | ||
XAG |
|
| $19.14 |
|
| -1.57 |
| -3.66 | |
XPT |
|
| $1,026.35 |
| -1.33 |
| -0.35 | ||
XPD |
|
| $700.20 |
|
| 0.86 |
| 2.40 | |
Euro |
|
| 1.1215 |
|
| -0.35 |
| 0.57 |
Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
Gold prices may drop further but still good to own in time
- Gold lost the most in more than a month as a surge in U.S. consumer confidence and gains in the dollar damped demand for the metal as a store of value.
- China, the world’s biggest gold consumer, cut bullion imports from Hong Kong in August to the lowest level since January amid rising property prices and an improving economy.
- China’s Shandong Gold Mining Co. has emerged as the lead bidder for Glencore Plc’s gold mine in Kazakhstan, which may fetch about $2 billion in a sale, according to people familiar with the matter.
- Gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, decreased 2.08 metric tons to 949.14 metric tons as of Sept. 27, according to figures on the company’s website.
- Gold futures for December delivery were unchanged at to $1,330.40 an ounce on the Comex division of the New York Mercantile Exchange
- Silver has soared this year because of a multitude of factors like the Federal Reserve foreign buyers and more. But can it continue?
- Commodities like gold and silver have surged this year, thanks to geopolitical uncertainty like 'Brexit,' the Federal Reserve's reluctance to raise its main interest rate and foreign buyers. But with the price of silver up nearly 40% year-to-date, investors are wondering whether it can continue. Experts say it may have more room to run, particularly as global interest rates continue to stay negative.
- Gold prices may drop further but it's still good to own in times of political unrest in the market Goldman Sachs' Head of Commodities Research Jeff Currie said on CNBC.
Data Forthcoming Releases
Time* | Country | Today's Events | Forecast | Previous | Actual |
4:30pm | USD | Core Durable Goods Orders m/m | -0.005 | 4.8% | 0.013 |
6:00pm | USD | Fed Chair Yellen Testifies | 0 | 0 | 0 |
6:30pm | EUR | ECB President Draghi Speaks | 0 | 0 | 0 |
Courtesy: http://kalotipm.com.sg/kaloti-market-report-28th-september-2016
Scrap Metal Prices
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Alternator | 0.32 | $US/Lb |
#1 Copper Bare Bright | 3.72 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.73 | $US/Lb |
6061 Extrusions | 0.64 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 460.00 | $US/MT |
#1 Busheling | 480.00 | $US/MT |
Electronics Scrap |