Kaloti Precious Metals-Morning Market Report-Friday, December 30, 2016
China’s Gold Imports Drop to Lowest Since January as Yuan Falls.
OTC Trading Range For | All Times Are | As Per Dubai | Date | 30/12/2016 | |
29/12/2016 |
| Gold | Silver | Platinum | Palladium |
Open At 03.00 |
| $1,141.67 | $15.97 | $903.45 | $671.66 |
High Bid |
| $1,159.48 | $16.08 | $907.93 | $679.39 |
Low Offer |
| $1,141.64 | $15.81 | $891.94 | $665.71 |
Close At 02.00 |
| $1,158.19 | $16.16 | $898.75 | $667.32 |
Previous Close |
| $1,141.67 | $16.02 | $903.70 | $671.92 |
Daily Change USD | $16.52 | $0.14 | ($4.95) | ($4.60) | |
Daily Change % |
| 1.43% | 0.87% | -0.55% | -0.69% |
London Fixings | AM | $1,146.80 | ** | $903.00 | $671.00 |
| PM | $1,145.90 | $15.85 | $899.00 | $675.00 |
COMEX Trading Volume | 152760 | 40817 | 5519 | 2022 | |
Active Month Settlement | $1,158.10 | $16.21 | $897.80 | $675.65 | |
Previous Session |
| $1,140.90 | $16.03 | $899.60 | $666.85 |
Daily Change |
| $17.20 | $0.18 | ($1.80) | $8.80 |
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 |
| 0.77 | 0.99817 | 1.31767 | 1.69011 |
Gold ATM Vols |
| 13.880 | 14.710 | 15.62 | 16.59 |
Silver ATM Vols |
| 25.37 | 26 | 26.02 | 26.42 |
Platinum ATM Vols | 21.250 | 20.400 | 19.400 | 18.800 | |
Palladium ATM Vols | 29.000 | 28.300 | 27.150 | 26.700 |
Market Daily & Weekly
Market Snap Shot | 29/12/2016 | 1 Day% | 1 Week % |
XAU | $1,158.19 | 1.43 | 2.29 |
XAG | $16.02 | 0.37 | 0.56 |
XPT | $898.75 | -0.55 | -2.64 |
XPD | $667.32 | -0.69 | -0.02 |
Euro | 1.049 | 0.73 | 0.51 |
Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
China’s Gold Imports Drop to Lowest Since January as Yuan Falls
- China, the world’s biggest gold consumer, reduced bullion imports from Hong Kong for the first time in three months in November as a weaker yuan curbed purchases and investors sought riskier assets.
- Net purchases were about 40.6 metric tons, the lowest since January, from 60.4 tons in October and 66.8 tons in the same month last year, according to data from the Hong Kong Census and Statistics Department compiled by Bloomberg. The mainland bought 63.9 tons compared with 67.2 tons in October, while exports were 23.2 tons from 6.7 tons. Mainland China doesn’t publish the data.
- Global gold prices fell 8.1 percent in November, the most since 2013, as the near-certainty of higher U.S. interest rates following the election of Donald Trump as president stoked optimism about the economy and sent equities to records. Higher rates weigh on non-interest bearing bullion. With China grappling with a weakening yuan, investors may have been waiting for a further drop in prices as riskier assets became more attractive, said Helen Lau, a Hong Kong-based analyst at Argonaut Securities (Asia) Ltd.
- Gold prices rose, posting the largest daily gain in three months. A concurrent side-by-sidedecline in the US Dollar and front-end Treasury bond yields points to an increase in the relative appeal of anti-fiat and non-interest-bearing assets. That move followed the release of US trade data that showed the deficit unexpectedly widened to $65.3 billion in November, the largest since March 2015. Economists projected that the shortfall would narrow from $62 to $61.6 billion ahead of the announcement.
Data Forthcoming Releases
Time | Country | Today's Events | Forecast | Previous | Actual |
6:45pm | USD | Chicago PMI | 56.5 | 57.6 |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-30th-december-2016
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.32 | $US/Lb |
#1 Copper Bare Bright | 3.75 | $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 |