TDS: 'Going Long Silver Looks To Be An Attractive Bet'
TD Securities calls silver an “attractive”bet after recent price weakness. “Silver, recently deemed the ugly duckling ofthe [precious-metals] complex, bounced off resistance at $16.80 [per ounce] andis now trending lower with precious metals,” TDS says. “Investor appetite forsilver remains lackluster as speculators recently piled on shorts, driving netexposure to its lowest on record. Given our uncertainty that the Fed hikes fourtimes and the likelihood real rates will remain low, we expect precious metalswill perform well moving forward - going long silver looks to be an attractivebet.” As of 10:50 a.m. EST, spot silver was 5.2 cents lower to $16.43 an ounce.
By Allen Sykoraof Kitco News; asykora@kitco.com
TDS: Gold Range-Bound Ahead Of Friday U.S.Jobs Report
Thursday March 08, 2018 10:57
Gold prices remain range-bound at themoment, trading near the 50-day moving average around $1,329 an ounce, says TDSecurities. Analysts say a move above $1,360 or below $1,300 “does not seem tobe in the cards any time soon. Increased probabilities of four rate hikes thisyear continue to weigh on prices, while recent fears of a trade war arepreventing a major liquidation of spec positioning. Keep an eye out for [U.S.]non-farm jobs and wage data later this week.” The monthly U.S. employmentreport is scheduled for release on Friday. As of 10:49 a.m. EST, spot gold wasdown $5.45 for the day to $1,319.95.
By Allen Sykoraof Kitco News; asykora@kitco.com
Commerzbank: Indian Feb. Gold Imports Down Year-On-Year, UpFrom Jan.
Thursday March 08, 2018 10:57
Commerzbank notes that India’s February gold imports weredown on a year-on-year basis but improved from the prior month. Analysts citedprovisional data from India’s Ministry of Finance showing that the countryimported 67 tonnes of gold in February, down 31% year-on-year. “Gold prices inIndia had risen sharply in the first two months of the year, and traders hadheld back on buying gold in anticipation of a reduction in import duties,”Commerzbank says. “What is more, last February’s level was unusually high. Thatsaid, imports have already picked up noticeably again as compared withJanuary.”
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.