Gold Silver Market Report 14 March 2017


Precious Metals Market Report 
Tuesday 14 March, 2017 



Fundamentals and News

Gold Volatility Falls to Lowest Since 2014 Ahead of Fed Decision

Gold futures for April delivery gain 0.1% to settle at $1,203.10/oz at 1:46 p.m. on Comex in N.Y.

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Gold futures’ 30-day volatility at 10.319% is lowest since Oct. 2014

Federal Reserve set to announce its rate decision Wednesday, with traders betting a hike is virtually certain

Fed decision set for the same day as Dutch election

“Gold is probably going to move sideways so there’s real low volatility into Wednesday’s decision,” Bob Haberkorn, a senior market strategist at RJO Futures in Chicago, says by phone

“What’s kept gold above $1,200 an ounce is the uncertainty in Europe”

“Had it not been for Europe concerns, prices should be trading closer to as much as $150 dollars lower than it is today,” he says

Lower real Treasury yields and weaker dollar provide support to gold after last week’s 2.4% drop, Georgette Boele, currency strategist at ABN Amro, said by phone

3 rate hikes priced in but gold could drop further if Fed raises the potential for 4th: Boele “The market is not so interested in the hike but forward guidance and inflation
expectations,” she says.

Bank of Japan, Bank of England also meet this week

Bloomberg Dollar Spot Index -0.1% after -0.6% on Fri

ETFs: Holdings in SPDR Gold Shares, top gold-backed ETF, -8.9 tons to 825.2 tons as of Friday, the biggest loss by tonnage this year

In other precious metals:
Silver futures gained on Comex, while palladium and platinum futures rose on N.Y. Mercantile Exchange
(*source Bloomberg)

Data – Forthcoming Release


Technical Outlook and Commentary: Gold

Gold for Spot delivery was closed at $1204.3 an ounce; with loss of $0.34 or 0.03 percent at 2.00 a.m. Dubai time closing, from its previous close of $1204.64

Spot Gold technically seems having resistance levels at 1221.2 and 1228.8 respectively, while the supports are seen at $1196.6 and 1189.0 respectively.


Technical Outlook and Commentary: Silver

Silver for Spot delivery was closed at $16.97 an ounce; with loss of $0.06 or 0.35 percent at 2.00 a.m. Dubai time closing, from its previous close of $17.03

The Fibonacci levels on chart are showing resistance at $17.57 and $17.80 while the supports are seen at $16.84 and $ 16.61 respectively


Resistance and Support Levels

Indications only, open & closing prices are bids; data source: Bloomberg; important disclaimer below; Times as per Dubai

This analysis is also available at Kaloti Precious Metals SG
Kaloti Precious Metals (KPM) does not provide trading or investment advice to its customers. The information provided in this report constitutes market commentary only and KPM assumes no liability whatsoever for the accuracy and/or any use of the information contained in this report and expresses no solicitation to buy or sell OTC products, futures, or options on futures contracts. The Customer should not regard any views or opinions given in this report as being investment or trading advice KPMI shall have no liability whatsoever for any view or opinion expressed in the report. Reproduction of this report without authorization is forbidden. All rights reserved.

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