Kaloti Precious Metals-Morning Market Report-Monday, January 23, 2017

Egypt Looks for Gold Tenders Success as Two Companies Won’t Bid.

 

 

 

 

 

 

 

 

 

 

 

OTC Trading Range For

All Times Are

 

As Per Dubai

 

Date

23/01/2017

 

20/01/2017

 

 

Gold

 

Silver

 

Platinum

Palladium

 

Open At 03.00

 

$1,204.85

 

$17.02

 

$959.61

$753.94

 

High Bid

 

$1,214.88

 

$17.16

 

$980.70

$793.55

 

Low Offer

 

$1,198.68

 

$16.83

 

$953.17

$751.03

 

Close At 02.00

 

$1,210.32

 

$17.09

 

$978.20

$788.56

 

Previous Close

 

$1,204.85

 

$17.02

 

$959.45

$754.13

 

Daily Change USD

$5.47

 

$0.07

 

$18.75

$34.43

 

Daily Change %

 

0.45%

 

0.41%

 

1.92%

4.37%

 

London Fixings

AM

$1,199.10

 

**

 

 

$955.00

$752.00

 

 

PM

$1,200.55

 

$16.89

 

$963.00

$761.00

 

COMEX Trading Volume

244343

 

64625

 

17747

8624

 

Active Month Settlement

$1,204.90

 

$17.03

 

$976.00

$788.40

 

Previous Session

 

$1,201.50

 

$17.00

 

$956.40

$751.15

 

Daily Change

 

$3.40

 

$0.03

 

$19.60

$37.25

 

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

 

0.77528

 

1.04344

 

1.35822

1.73289

 

Gold ATM Vols

 

13.570

 

14.290

 

16.33

16.42

 

Silver ATM Vols

 

21.96

 

23.23

 

24.78

25.91

 

Platinum ATM Vols

19.750

 

19.000

 

18.950

18.850

 

Palladium ATM Vols

29.500

 

27.500

 

26.550

26.100

 

 

Market Daily & Weekly

Market Snap Shot

 

22/01/2017

 

1 Day%

1 Week %

 

XAU

 

 

$1,210.32

 

0.45

1.07

 

XAG

 

 

$17.09

 

 

0.41

1.58

 

XPT

 

 

$978.20

 

1.92

-0.68

 

XPD

 

 

$788.56

 

4.37

4.68

 

Euro

 

 

1.0703

 

 

0.36

0.56

 

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

Fundamentals and News

Egypt Looks for Gold Tenders Success as Two Companies Won’t Bid

Egypt is looking for international gold mining companies to participate in its first exploration tender since 2009 even as two companies already in the country say they won’t bid.

“I would be very surprised if anyone participated in this bid round with the current terms,” David Hall, chief executive officer of Virgin Islands-based Thani Stratex Resources Ltd., which is exploring for gold in Egypt’s Eastern Desert area. Aton Resources Inc., based in Vancouver, would rather focus on existing projects it has in Egypt, Chief Executive Officer Mark Campbell said.

Singapore (Jan 22) Trump’s protectionist statements, with mixed promises of tax cuts and infrastructure spending, increased demand for gold as a safe haven in the week.

Better-than-expected jobs and housing data also reinforced view that US economy is sufficiently robust to warrant rate rises.

Gold is highly-sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

The prices of precious metals in the domestic market are governed by their rates in the international market.

When market opened on Sunday, gold was priced at Rs 54,700 per tola. Its price surged by Rs 500 a tola to Rs 55,200 per tola on Monday. On Tuesday and Wednesday, bullion price edged up by Rs 100 a tola to Rs 55,300 per tola and Rs 200 a tola to Rs 55,500 per tola, respectively. On Thursday, however, gold price fell by Rs 300 a tola to Rs 55,200 per tola on downside corrections and profit taking.

 

Data Forthcoming Releases

Time

Country

Today's Events

Forecast

Previous

Actual

7:00pm

EUR

Consumer Confidence

-0.05

-0.05

 

Courtesy: http://kalotipm.com.sg/kaloti-market-report-23rd-january-2017

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