Document 6565675

Strategist Contact Information
Global Research
Russell Browne - [email protected]
Trading Contacts
Gold & Silver Marketwatch
Reuters MMCN or (212) 225-6200
Stephen Abbriano - [email protected]
Robert Lockwood - [email protected]
Daily Update
Monday, October 20, 2014
Market Commentary
1-Day Commodity Moves (%)
Gold moved higher overnight to open the day at 1246.50/1247.50.
It touched a high of 1248.50/1249.50 before pulling back to a low
of 1243.00/1244.00 as global equities rose. Gold’s move higher
was underpinned by physical buying on account of the Diwali
festival in India this week. The metal was mostly range bound as it
ended the day at 1244.00/1245.00.
Silver advanced overnight, opening the session at 17.44/17.49. It
climbed to a high of 17.50/17.55 and then retreated to a low of
17.32/17.37 before concluding the session at 17.34/17.39.
Gold
0.6
Silver
0.8
Platinum
0.4
Palladium
1.0
Oil WTI fut
0.1
Copper fut
-0.6
EUR
0.4
S&P 500
0.7
CRB
-0.6
-1
0
1
2
5-Day Commodity Moves (%)
Technical Commentary
Silver rose modestly, closing at 17.37 – just shy of its 9 day and 21
day MA’s (both near 17.39) – a break and close above these short
term MA’s would shift the focus to further upside. However, the
technical picture for silver is uncertain, as we note that
momentum indicators are conflicted and close to neutral. Recent
consolidation has left silver within a range between 17.00 and
17.80.
Silver
-0.5
The gold-silver ratio has softened modestly from Friday’s fresh
multi-year closing high, while forming a bullish hammer doji in
Monday’s session. Momentum and trend indicators are broadly
bullish.
Palladium
-2.9
Oil WTI fut
-3.4
Copper fut
-1.8
Gold
1246.50/1247.50
1248.50/1249.50
1243.00/1244.00
1244.00/1245.00
1,241.00
1,244.50
1,244.50
71.61
Gold OI
403,776
3
403,779
EUR
0.5
S&P 500
1.3
CRB
-1.6
-4
-3
-2
-1
0
1
2
1 Month Commodity Moves (%)
Gold
2.5
Silver
-2.4
Platinum
-5.2
Palladium
Oil WTI fut
-6.0
-10.4
Copper fut
-3.3
-0.3
S&P 500
-5.5
CRB
-15.0
-3.0
-10.0
-5.0
10/20/14 15:12 (last updated)
Notable Ranges & Technical Levels
Platinum
0.3
EUR
Open
High
Low
Close / Last Mid*
London Pricing AM
London Pricing PM
Handy Harman (Base)
Gold / Silver Ratio
Open Interest
COMEX
CBOT
Total
Gold
0.8
Gold has closed higher at 1244.50, just shy of the key 38.2% Fibo
retracement level (1245) of the recent decline. Momentum
indicators are bullish and suggestive of acceleration, as we note
the emergence of near term support around the 9 day MA
(1233.48). A close above 1245 would increase the risk of near term
upside, shifting the focus to 1264 the 50% Fibo retracement level
of the recent decline. Intraday resistance has been observed at the
50 day MA (1249.50) and thus poses a near term challenge to
further gains.
0.0
5.0
Source: Bloomberg
Technical
Levels etc.
Technical Levels,
Silver
17.44/17.49
17.50/17.55
17.32/17.37
17.34/17.39
17.38
NA
17.370
NA
Platinum
1,261.00
1,275.15
1,256.75
1,266.80
1,268.00
1,268.00
1,268.00
NA
Silver OI
170,248
7
170,255
Gold
Palladium
754.60
764.50
753.45
761.85
754.00
756.00
756.00
NA
Pivot
Primary Support (Buy)
Primary Resistance (Sell)
HBOP
LBOP
Bollinger Band Upper
Bollinger Band Mid
Bollinger Band Lower
Relative Strength 9 Day
Relative Strength 14 Day
1,243.22
1,237.53
1,251.56
1,265.59
1,223.50
1,248.79
1,222.13
1,195.47
66
58
Silver
17.396
17.264
17.530
17.796
16.998
17.819
17.368
16.916
46
41
Platinum
Palladium
1,263
1,251
1,279
1,307
1,223
1,330
1,277
1,224
44
38
756.55
748.60
770.20
791.80
727.00
820.04
781.15
742.25
41
40
Close/last mid refers to the spot closing floor price in gold and silver, and spot’s last mid
price as provided by Bloomberg in platinum & palladium spot.
All other data provided by Bloomberg. Actual market levels may differ.
1
Gold and Silver Market Watch
Monday, October 20, 2014
Gold: 2-Year Close with Moving Averages ($/oz)
Gold: 2-Month Candlesticks ($/oz)
1775
1300
1675
1275
1575
1250
1475
1225
1375
1200
1275
1175
Nov-12
Mar-13
Jul-13
Spot
Nov-13
100-Day
Mar-14
200-Day
1175
28-Aug
Jul-14
7-Sep
17-Sep
27-Sep
7-Oct
17-Oct
27-Sep
7-Oct
17-Oct
400-Day
Silver: 2-Year Close with Moving Averages ($/oz)
Silver: 2-Month Candlesticks ($/oz)
34.5
20.0
32.5
19.5
30.5
19.0
28.5
18.5
26.5
24.5
18.0
22.5
17.5
20.5
17.0
18.5
16.5
Nov-12
Mar-13
Spot
Jul-13
Nov-13
100-Day
Mar-14
200-Day
16.5
28-Aug
Jul-14
7-Sep
17-Sep
400-Day
Source: Bloomberg (may differ from market spot prices)
Moving Averages
5 Day MA
10 Day MA
20 Day MA
30 Day MA
60 Day MA
100 Day MA
200 Day MA
400 Day MA
Markets
FX Majors
Gold
1,239.58
1,231.13
1,222.13
1,225.57
1,257.71
1,274.46
1,286.05
1,306.64
Silver
17.383
17.372
17.368
17.759
18.724
19.423
19.752
20.660
Platinum
1,261
1,264
1,277
1,305
1,373
1,414
1,426
-
Palladium
763.99
777.52
781.15
798.42
838.97
844.40
809.26
-
CAD
EUR
GBP
CHF
AUD
ZAR
JPY
as of:
1.1279
1.2816
1.6176
0.9416
0.8798
11.0159
106.8600
10/20/2014 15:12
CRB
DJAIG
Crude (fut)
S&P 500
US 10 Yr
US 30 Yr
CDN 10 Yr
as of:
271.13
116.61
82.82
1899.43
2.18
2.96
1.93
10/20/2014 15:12
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