Bullion Daily Report

Bullion Daily Report
12/16/2014
TOKYO (+81 3 6405 3684)
LONDON (+44 20 7025 3200)
NEW YORK (+1 212 605 2156)
Sales: Hideaki Yamazaki
[email protected]
Reuters: MCGQ
Sales: Gregory Hill
[email protected]
Reuters: MCUK
Sales: Roger Molnar
[email protected]
Price Data
Fixings
London AM Gold
London PM Gold
London Silver
London AM Platinum
London PM Platinum
London AM Palladium
London PM Palladium
Handy & Harman Silver
NY Exchange Trading
COMEX February Gold
COMEX March Silver
NYMEX January Platinum
NYMEX March Palladium
11/17/14
1187.00
1182.50
1620.00
1205.00
1202.00
764.00
771.00
1610.50
Open
1217.10
16.555
1223.50
804.30
Month Average
1160.295
1161.091
1567.636
1206.909
1204.727
771.909
772.182
1576.727
High
1219.80
16.585
1224.80
805.15
Low
1187.80
15.540
1195.50
781.50
1 Year Moving Average
1269.993
1271.089
1947.006
1402.749
1402.873
792.662
793.867
1948.361
Close
1194.30
15.752
1196.50
784.00
Change
-13.40
-0.811
-18.40
-18.55
Platinum loco US sponge vs. Europe ingot switch (indication at 1330 NY time)
Palladium loco US sponge vs. Europe ingot switch (indication at 1330 NY time)
Related Markets at NY Metals Floor Close (1330 PM NY Time)
Dollar / Yen
Aus/US
117.1
Euro / Dollar
Dollar/Rand
1.2512
NYMEX Crude
55.62
NYMEX RBOB
Not having fun
EFP
20/40
0/1
-1/0
-75/+25
3/5
2/5
0.8217
11.6532
1.5414
Things are not going well in Russia. Falling oil, plummeting ruble,
Spiking interest rates in a surprise move did nothing to stop the
carnage. Back in October it was reported that in certain areas of the
Crimea and in Ukraine there were shops selling toilet paper with
Putin’s image printed on it. Just two months later it may be getting
to the point where it is cheaper to just use rubles instead.
We all know that oil and national pride are not the only things that
can be found in abundance in Russia. There are also mountains of
platinum and palladium. And let’s not forget the not-too-distant
headlines about all the gold that Moscow was hovering up to
demonstrate their general disdain for the US dollar, after Obama
gave Putin the finger-wagging over his expansion moves.
When the market realized that the rate hike maneuver from the
central bank was a non-starter, palladium, platinum, and gold
dropped faster than Mickey Rourke’s boxing “opponent.” While
gold managed to come up with a $10 DCB, the PGMs couldn’t get
out of their own way in spite of sustained decent demand for sponge
in the leasing market before the year end.
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