13th July, 2017

Daily Market Rates

India A.M. (13-07-17)

999 Gold - Rs. 28,055/-
995 Gold - Rs. 27,905/-
916 Gold - Rs. 25,698/-
750 Gold - Rs. 21,041/-
583 Gold - Rs. 16,412/-
999 Silver - Rs. 36,915/-





India P.M. (12-07-17)

999 Gold - Rs. 28,045/-
995 Gold - Rs. 27,895/-
916 Gold - Rs. 25,689/-
750 Gold - Rs. 21,034/-
583 Gold - Rs. 16,406/-
999 Silver - Rs. 36,830/-

Wednesday, July 12

The UK is to publish its monthly employment report.
The Bank of Canada is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. The bank will also hold a press conference.
Fed Chair Janet Yellen is to testify on the monetary policy report before the House Financial Services Committee, in Washington.

Daily Gold Market Report

Gold needs the positive momentum – Analysis - 13-07-2017
Gold price settles around 1220.00 level after the rise that it witnessed yesterday, noticing that stochastic attempts to get rid of its negativity gradually, waiting to get enough positive momentum to push the price to resume the bullish trend again, as our first target is located at 1229.32. In general, we will continue to suggest the bullish trend as long as the price is above 1208.92, as breaking this level will push the price to extend its bearish correction towards 1188.52, while breaching 1229.32 represents the key to extend Gold price gains towards 1254.56 direct. Expected trading range for today is between 1210.00 support and 1235.00 resistance. Expected trend for today: Bullish

14th India International Gold Convention

IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).

For Admissions, contact: Kejal 022 49717444

WB plans SGST waiver for gems and jewellery sector

The West Bengal (WB) government is planning to exempt the gems and jewellery industry from state goods and services tax (SGST). While an official communication to this effect is yet to be made, DNA Money has learnt that the government is working on it and will make the decision public in the coming months. Vandana Yadav, MD, West Bengal Industrial Development Corporation Ltd (WBIDC), said there was a waiver under the value-added tax (VAT) era and the government plans to extend the same under the GST regime.

Gold loses lustre post GST rollout

Current Gold Price: Track current gold rate trends and news

Gold steady after Yellen hints at only gradual tightening

BENGALURU: Gold prices held steady on Thursday after US Federal Reserve Chair said the central bank would only gradually tighten monetary policy, curbing speculation that interest rates would rise more than once this year. FUNDAMENTALS Spot gold was nearly flat at $1,219.06 per ounce at 0050 GMT. US gold futures for August delivery fell 0.06 per cent to $1,218.30 per ounce.

Rs 3.5 crore cash, 5 kg gold recovered from I-T official

NEW DELHI: Our Bureau New Delhi: The Central Bureau of Investigation (CBI) on Wednesday registered a case against Tapas Kumar Dutta, principal commissioner of Income Tax, Ranchi; Arvind Kumar, additional commissioner of Income Tax, Ranchi and Ranjeet Kumar Lal, ITO (Tech), Ranchi on charges of criminal conspiracy, illegal gratification and criminal misconduct. Besides the aforesaid, unknown public servants, six private persons and another officer of Income Tax, Ranchi have been booked by the CBI

Why India’s (part-illicit) love affair with gold will sizzle on

Gold imports to the Indian market crashed by almost 39 percent in 2016 compared to 2015 (see table). Many believed that the government’s attempts in weaning people from gold were finally yielding fruit. But the euphoria could be short-lived.

Gold futures rise to Rs. 27,914

NEW DELHI, JULY 13: Gold prices were trading up by Rs. 63 at Rs. 27,914 per 10 grams at the futures trade today as speculators created positions amid positive cues from the global market. At the Multi Commodity Exchange, gold for delivery in August shot up by Rs. 63 or 0.23 per cent to Rs. 27,914 per 10 grams in a business turnover of 306 lots. The metal for delivery in October was trading higher by Rs. 62, or 0.22 per cent, to Rs. 28,105 per 10 grams in a turnover of 1 lot.

German police make arrests over €4m gold coin heist

German special police have arrested several people suspected of carrying out an old-fashioned heist of a €4m (£3.6m) 100kg gold coin in Berlin. “We are conducting searches and executing arrest warrants in several places in Berlin concerning the break-in at the Bode Museum in March,” regional police said on Wednesday.

Gold rises to Rs. 28,890 on firm global cues, spot demand

NEW DELHI, JULY 12: Gold prices surged Rs. 110 to Rs. 28,890 per 10 grams today, riding largely on a firm trend overseas, along with increased buying by local jewellers. Silver also advanced by Rs. 700 to Rs. 37,900 per kg backed by increased offtake by industrial units and coin makers. Traders said that besides a firm global trend as a drop in equities drove safe-haven buying and as the US dollar retreated, increased buying by local jewellers at the domestic market boosted gold prices. Globally, gold rose 0.15 per cent to $1,219 an ounce in Singapore. Silver too gained 0.35 per cent to $15.89 an ounce.

Gold, silver trade in green post Janet Yellen's testimony

NEW DELHI: Gold and silver were trading higher in the morning trade on Thursday after the US Federal Reserve Chair Janet Yellen said the central bank would only gradually tighten monetary policy, curbing speculation that interest rates would rise more than once this year. Buying in precious metals by jewellers, industries and retailers further supported the bullion counter.

Silver futures up at Rs. 37,009 per kg

NEW DELHI, JULY 13: Silver prices were trading up by Rs. 41 at Rs. 37,009 per kg at the futures trade after participants raised bets amid a firm global trend. At the Multi Commodity Exchange, silver for delivery in September was trading up by Rs. 41 or 0.11 per cent at Rs. 37,009 per kg in a business turnover of 472 lots. Similarly, the white metal for delivery in December was trading higher by Rs. 38 or 0.10 per cent at Rs. 37,659 per kg in a business volume of one lot.

These charts will give silver price bulls hope

September silver contracts were priced at $15.88 per ounce in afternoon trade in New York after earlier in the day trading just short of the $16 level. On Monday, silver futures dropped to the lowest level since April last year before rallying. Silver is now up over 6% after hitting an intra-day low of $15.14 at the start of the week following a flash crash on Friday which was blamed on a software glitch.

Silver Shines

Enlisted by the World Gold Council as one of the top 10 most inventive and ingenious jewellery designers in the world, Hyderabad-based designer Suhani Pittie has been stocking her flagship store with latest designs that have enamoured Bollywood stars. The store has announced the anniversary sale from July 12 to 22. The 10-day sale will bring select handcrafted jewellery, home décor and unique giftware, all under one roof at 20% Odiscount.

IBJA’s Free Privileged Gold Membership

IBJA members can contact our Delhi regional office for any queries / suggestions regarding IBJA in the North region.
Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
Contact Person: Mr. K.P Singh on 9540230600.

IBJA members can contact our Gujarat regional office for any queries / suggestions regarding IBJA in the west region.
Address : Gems & Jewellery Trade Council of India "GJTCI" Gem Place, 3rd Floor, Deepkala House, C. G. Road, Ahemdabad - 380 009, Gujarat.
Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

India Bullion and Jewellers Association Ltd.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.

Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459

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