Gold & Silver Marketwatch (Daily)
Transcription
Gold & Silver Marketwatch (Daily)
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 Friday, December 19, 2014 Market Commentary 1-Day Commodity Moves (%) Gold was moderately static overnight as it opened the day at 1196.75/1197.75. The metal touched a high of 1200.00/1201.00 before falling to a low of 1195.00/1196.00 on dollar strength as global equities rose and crude oil prices rebounded from 5-½-year lows. Gold was mostly range bound as it ended the day relatively flat at 1195.50/1196.50. Silver was unchanged overnight, opening at the session low of 15.85/15.90. It touched a high of 16.06/16.11 and traded narrowly for the remainder of the session before closing at 16.00/16.05. Gold -0.2 Silver 1.1 Platinum -0.1 Palladium 1.8 Oil WTI fut 4.5 Copper fut 1.5 EUR -0.5 S&P 500 0.6 CRB 1.0 -1 0 1 2 3 4 5 5-Day Commodity Moves (%) Technical Commentary Gold -2.6 Gold has closed at 1196, unchanged from yesterday’s close with a narrow intraday range hinting to consolidation amid uncertainty. On a weekly basis, gold has fallen for the first week in three, and its close above the prior week’s open provides a modest offset to bearish daily technicals. We remain focused on 1980 as a near term support level, beyond which we look to the December 1st low of 1142.88. Silver closed at 16.03. Technicals are mixed given the bearish momentum indicators and the modest gains since Wednesday. On a weekly basis, silver has also fallen for its first week in three, and its close below the prior week’s open hints to further downside risk. We focus on 15.45 as a level of potential near term support, followed by the December 1st low of 14.42. Silver -5.7 Platinum -3.4 Palladium -1.4 Oil WTI fut -2.2 Copper fut -1.1 EUR -1.9 CRB -1.4 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 Gold -0.1 Silver -0.7 Platinum -0.6 Oil WTI fut 4.3 -24.2 Copper fut -4.3 EUR -2.6 S&P 500 1.2 CRB -30.0 -9.8 -25.0 -20.0 -15.0 12/19/14 15:25 (last updated) Notable Ranges & Technical Levels Gold Open High Low Close / Last Mid* London Pricing AM London Pricing PM Handy Harman (Base) Gold / Silver Ratio Open Interest COMEX CBOT Total 1196.75/1197.75 1200.00/1201.00 1195.00/1196.00 1195.50/1196.50 1,197.50 1,195.50 1,195.50 75.38 Gold OI 372,834 24 372,858 5 1 Month Commodity Moves (%) Palladium The gold-silver ratio has fallen to 74.50, completing its third consecutive decline. We look to 74.00 as a level of near term support, followed by the short term MA’s around 73.50. Momentum indicators remain biased to further upside. S&P 500 3.6 -10.0 -5.0 0.0 5.0 10.0 Source: Bloomberg Technical Levels etc. Technical Levels, Silver 15.85/15.90 16.06/16.11 15.85/15.90 16.00/16.05 15.86 NA 16.040 NA Platinum 1,200.40 1,204.35 1,195.35 1,198.60 1,199.00 1,197.00 1,197.00 NA Silver OI 149,096 2 149,098 Gold Palladium 793.05 807.85 788.55 807.10 792.00 795.00 795.00 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 1,201.37 1,188.72 1,208.85 1,228.98 1,168.59 1,232.67 1,202.90 1,173.32 47 48 Silver 16.043 15.852 16.252 16.652 15.452 17.298 16.387 15.477 44 45 Platinum Palladium 1,202 1,189 1,212 1,235 1,165 1,254 1,221 1,190 40 42 797.75 787.65 817.20 846.75 758.10 821.46 801.24 781.03 57 55 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 Friday, December 19, 2014 Gold: 2-Year Close with Moving Averages ($/oz) Gold: 2-Month Candlesticks ($/oz) 1725 1250 1625 1225 1525 1200 1425 1175 1325 1150 1225 1125 Jan-13 May-13 Sep-13 Spot Jan-14 100-Day May-14 200-Day Sep-14 1125 27-Oct 6-Nov 16-Nov 26-Nov 6-Dec 16-Dec 26-Nov 6-Dec 16-Dec 400-Day Silver: 2-Year Close with Moving Averages ($/oz) Silver: 2-Month Candlesticks ($/oz) 33.0 17.5 31.0 17.0 29.0 16.5 27.0 16.0 25.0 23.0 15.5 21.0 15.0 19.0 14.5 17.0 15.0 Jan-13 May-13 Spot Sep-13 Jan-14 100-Day May-14 200-Day 14.0 27-Oct Sep-14 6-Nov 16-Nov 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 1,194.95 1,208.59 1,202.90 1,194.97 1,203.32 1,229.28 1,263.77 1,281.17 Silver 15.918 16.424 16.387 16.265 16.610 17.614 18.813 19.872 Platinum 1,200 1,219 1,221 1,215 1,236 1,304 1,380 - Palladium 791.65 801.65 801.30 791.45 784.64 815.12 819.93 - CAD EUR GBP CHF AUD ZAR JPY as of: 1.1606 1.2225 1.5635 0.9843 0.8143 11.5728 119.5300 12/19/2014 15:25 CRB DJAIG CRUDE (fut) S&P 500 US 10 Yr US 30 Yr CDN 10 Yr as of: 240.29 108.66 56.52 2073.70 2.17 2.77 1.82 12/19/2014 15:25 This report has been prepared on behalf of Scotiabank and is not for the use of private individuals. 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