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    Umicore Daily Report

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    sampaio2710
    The document reports on market commentary and trading ranges for precious metals and currencies from May 24, 2024. Gold saw little change and was trading around $2,345/oz while silver rose 1.6% to over $30.80/oz. Platinum posted the largest increase, up around 3% to $1,055/oz.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Umicore Daily Report

    Uploaded by

    sampaio2710
    6 views1 page
    The document reports on market commentary and trading ranges for precious metals and currencies from May 24, 2024. Gold saw little change and was trading around $2,345/oz while silver rose 1.6% to over $30.80/oz. Platinum posted the largest increase, up around 3% to $1,055/oz.

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    UMICORE DAILY REPORT

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    The document reports on market commentary and trading ranges for precious metals and currencies from May 24, 2024. Gold saw little change and was trading around $2,345/oz while silver rose 1.6% to over $30.80/oz. Platinum posted the largest increase, up around 3% to $1,055/oz.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6 views1 page

    Umicore Daily Report

    Uploaded by

    sampaio2710
    The document reports on market commentary and trading ranges for precious metals and currencies from May 24, 2024. Gold saw little change and was trading around $2,345/oz while silver rose 1.6% to over $30.80/oz. Platinum posted the largest increase, up around 3% to $1,055/oz.

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    Monday, May 27, 2024

    MARKET COMMENT

    PRECIOUS METALS REPORT


    Daily report
    TRADING RANGE (COMEX/NYMEX Far East and early European ranges 05/24/2024)
    Friday was a relatively quiet trading day on the US
    stock markets. Investors were cautious, Gold (Jun) Silver (May) Platinum(Jul) Palladium(Jun) Euro/USD
    nevertheless most of the stock exchanges closed Low 2,326.30 30.37 1,021.90 963.50 1.0804
    in positive territory. On Monday, US stock markets
    remain closed for Memorial Day. In Asia, a High 2,349.00 30.37 1,042.80 980.50 1.0857
    majority of indices made gains at the start of the
    week. Stock exchanges in China reported gains Close 2,334.50 30.33 1,038.60 970.00 1.0845
    after the Japanese news agency Kyodo reported
    that the resumption of free trade talks between LONDON BENCHMARKS / ECB-EXCHANGE RATE (05/24/2024)
    China, Japan and South Korea had been agreed.
    In addition, industrial profits in China rose again in Gold Silver Platinum Palladium Euro/USD
    April, after a decline in the previous month. On the
    AM 2,339.75 30.590 1,019.00 972.00 1.0840
    European stock markets, there is not much
    movement at the start of the day. Trading is also PM 2,342.70 1,025.00 968.00
    expected to be quieter for the rest of the day due
    to public holiday in the USA and Spring Bank
    Holiday in the UK.
    The precious metals market is posting gains on TRADING RANGE (COMEX/NYMEX 05/24/2024)
    Monday, although gold is up only slightly. Gold
    Gold (Jun) Silver(May) Platinum(Jul) Palladium(Jun) Euro/USD
    has seen little change of +0.5% today and is
    trading spot at around US$ 2,345/oz. According to Low 2,326.30 30.37 1,021.90 963.50 1.0804
    Reuters India's gold imports in 2024 could fall by
    High 2,349.00 30.37 1,042.80 980.50 1.0857
    nearly a fifth from the previous year, as record
    high prices would spur retail consumers to Close 2,334.50 30.33 1,038.60 970.00 1.0845
    exchange old jewellery for new items. Jewellery
    demand would account for three-quarters of the SUPPORT / RESISTANCE (USD/toz)
    total demand, while investment demand would
    account for the rest. Lower imports by India, who Gold Silver Platinum Palladium Euro/USD
    is the world's second biggest consumer of the
    precious metal, could end a rally that has driven Resistance 2,350 31.30 1,070 1,000 1.0890
    global prices to a record this week. However, Support 2,330 30.30 1,010 960 1.0810
    according to the latest data released by the
    Reserve Bank of India, the Indian central bank
    increased its gold reserves by 24 tons through the
    first four months of the year. Through the entirety PRICE RANGES (INDICATIONS) FOR MINOR PGM’s
    of 2023, the RBI added 16 tons of gold to its
    holdings. Currently, the RBI holds over 827 tons Rh 4,650 – 4,750 / Ir 4,750 – 4,850 / Ru 425 – 450
    of gold in its reserves, making India rank ninth in
    the world in total gold holdings. In China, investor
    demand rose by 68 percent in the first quarter of GLOBAL ECONOMIC CALENDAR (05/27/2024)
    2024, as reported by the German newspaper
    Handelsblatt. As the Chinese real estate market Euro-Zone: Germany: Ifo Business Climate, Poland: Unemployment Rate
    and stocks are weakening, gold would be one of
    the remaining investment alternatives for Chinese UK: No major data Today
    investors. The WGC stated that the Chinese U.S.: No major data Today
    central bank added a total of 27 tons of gold to its
    reserves in the first quarter in 2024. While the gold RoW: Japan: BoJ Gov Ueda Speech, Coincident Index Final, Leading Economic
    price has risen by 13% since the beginning of this Index Final, China: Industrial Profits (YTD), Brazil: BCB Focus Market Readout
    year, silver has increased by almost 30% in the
    same period, Handelsblatt also reported.
    According to Jörg Scherer, technical analyst at
    HSBC Germany, there would be even an upside
    potential to US$ 36/oz. Today, Silver was able to
    rise by 1.6% so far and is currently being traded
    above US$ 30,80/oz on the spot market. Among For any comment, question or other inquiry please call us:
    the PGMs, platinum was able to post the largest Hanau (DE) +49 6181 59 + (extension)
    increase today and is already up around 3% on a Paola Castellano-Weisser (6294), Oliver Stoehr (6291), Stephan Henkel (6292),
    spot basis (US$ 1,055/oz). Palladium has gained Sven Bandilla (6293), Sascha Hasenmaier (6297)
    1.8% so far and is being traded at US$ 983/oz
    spot. South Plainfield (US) +1 908 222 + (extension)
    Good luck and have a nice day! Stephan Marczinkowski (5001), Tom O’Keeffe (5002), David Lee (5003), Rosanne Rapier (5004)

    This document is intended solely for professional participants of the precious metals markets. It is not designed for private individuals. This document is not and should not be construed as an offer
    to sell, or a solicitation of an offer to purchase or subscribe to, any investment. This document is based on information that Umicore Precious Metals New Jersey, LLC and Umicore AG + Co. KG
    Hanau Precious Metals Management (“Umicore”) has obtained from sources that it believes to be reliable, but Umicore has not independently verified such information. Accordingly, Umicore makes
    no guarantee, representation, or warranty as to its accuracy or completeness. Expressions of opinion are those of Umicore and may change without notice. Neither Umicore nor any of Umicore’s
    affiliates assumes any liability for any loss or damage, whether direct or indirect, that you may incur as a result of the use of or reliance on the information or opinions provided herein. If you are
    considering a purchase or sale of precious metals from or to Umicore, please contact one of our account representatives for the current price and information about our terms and conditions of sale.

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