Kaloti Precious Metals-Morning Market Report- Tuesday, May 23, 2017
U.S. Stocks Rise as Oil Advances, Dollar Weakens.
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OTC Trading Range For | All Times Are | As Per Dubai | Date | 23/05/2017 | |
22/05/2017 |
| Gold | Silver | Platinum | Palladium |
Open At 02.00 |
| $1,257.30 | $16.82 | $942.00 | $761.26 |
High Bid |
| $1,262.68 | $17.21 | $950.59 | $774.56 |
Low Offer |
| $1,251.85 | $16.81 | $936.13 | $751.93 |
Close At 01.00 |
| $1,260.63 | $17.16 | $949.19 | $771.02 |
Previous Close |
| $1,255.93 | $16.87 | $939.75 | $761.03 |
Daily Change USD | $4.70 | $0.29 | $9.44 | $9.99 | |
Daily Change % |
| 0.37% | 1.69% | 0.99% | 1.30% |
London Fixings | AM | $1,255.25 | ** | $933.00 | $768.00 |
| PM | $1,258.85 | $16.95 | $943.00 | $770.00 |
COMEX Trading Volume | 201866 | 76148 | 12921 | 6601 | |
Active Month Settlement | $1,261.40 | $17.19 | $950.30 | $759.10 | |
Previous Session |
| $1,253.60 | $16.79 | $940.20 | $760.70 |
Daily Change |
| $7.80 | $0.40 | $10.10 | ($1.60) |
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 |
| 10.780 | 11.570 | 13.01 | 14.39 |
Silver ATM Vols |
| 18.14 | 19.08 | 20.89 | 22.45 |
Platinum ATM Vols | 17.400 | 17.100 | 17.000 | 16.850 | |
Palladium ATM Vols | 23.750 | 24.000 | 24.650 | 25.050 |
Market Daily & Weekly
Market Snap Shot | 22/05/2017 | 1 Day% | 1 Week % |
XAU | $1,260.63 | 0.37 | 2.36 |
XAG | $17.16 | 1.69 | 3.09 |
XPT | $949.19 | 0.99 | 2.08 |
XPD | $771.02 | 1.30 | -3.34 |
Euro | 1.1237 | 0.28 | 2.33 |
Note: Indications only, open and closing prices are bids; Data source: Bloomberg; Times as per Dubai
Fundamentals and News
U.S. Stocks Rise as Oil Advances, Dollar Weakens
U.S. stocks advanced for a third day as President Donald Trump’s trip to Saudi Arabia netted deals that lifted industrial shares and crude pushed to a one-month high before OPEC meets this week. The dollar slipped.
The S&P 500 Index’s three-day climb topped 1.5 percent as Boeing Co. jumped after
Trump’s foreign trip overshadowed a week of tumult in Washington. The euro advanced after Chancellor Angela Merkel said the “too weak” currency shared the blame for Germany’s trade surplus. The 10-year Treasury yield edged toward 2.25%. Brazilian assets resumed a selloff Monday as investors fled what had been one of the most popular trades in emerging markets.
A risk-on tone returned to financial markets a week after near daily political tumult in Washington and Brazil rattled investors. The focus reverted back to speculation that global growth can weather the turmoil, even as the world’s largest economy edges closer to another increase in borrowing costs. Money managers will be scrutinizing minutes released this week from the Federal Reserve’s latest meeting.
Trump has so far managed to divert attention from the domestic crisis surrounding former FBI Director James Comey as he travels in the Middle East, where U.S. companies have signed multi-billion dollar deals in the defense, energy and infrastructure industries, before continuing on to Europe.
“With Trump on a tour, the hope is we see less news over the next couple of days -- a chance for the waters to settle,” said Andrew Sullivan, a managing director for sales trading at Haitong International Securities Group Ltd. in Hong Kong. “It’s another overhang on the market. We’ve got all these markets trading at highs and people don’t want to miss out, but they don’t want to be caught out.”
Data Forthcoming Releases
Time | Country | Today's Events | Forecast | Previous | Actual |
5:00pm | USD | FOMC Member Kashkari Speaks |
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6:00pm | USD | New Home Sales | 611K | 621K |
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Courtesy: http://kalotipm.com.sg/kaloti-market-report-23rd-may-2017
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