14th March, 2017

Daily Market Rates

India A.M. (14-03-17)

999 Gold - Rs. 28,510/-
995 Gold - Rs. 28,360/-
916 Gold - Rs. 26,115/-
999 Silver - Rs. 40,965/-





India P.M. (10-03-17)

999 Gold - Rs. 28,550/-
995 Gold - Rs. 28,400/-
916 Gold - Rs. 26,152/-
999 Silver - Rs. 41,065/-

Tuesday, February 14

China is to release data on consumer and producer price inflation.
Germany is to put out a preliminary estimate of fourth quarter growth, while the euro zone is to release a revised estimate of fourth quarter growth.
The ZEW Institute is to report on German economic sentiment.
The U.K. is to publish data on consumer price inflation.
The U.S. is to release data on producer price inflation.
Fed Chair Janet Yellen is due to appear before the Senate Banking Committee, in Washington to testify on the bank’s latest monetary policy report.
Separately, Dallas Fed President Robert Kaplan is to speak at an event in Houston.

Daily Gold Market Report

Gold retests – Analysis - 14-03-2017
Gold price’s trading bounced lower after the first test to 1211.30 level, to retest the previously breached resistance to the bearish correctional channel, where the price kept its stability above this level, accompanied with the issuance of clear positive signals from stochastic on the four hours’ time frame. Therefore, these factors encourage us to keep our bullish trend expectations in the upcoming period, and the price needs to breach 1211.30 level to get strong positive motive that supports achieving the gains on the intraday and short term basis, reminding you that our next main target at 1231.13, while the price needs to settle above 1195.28 to keep the chances for the continuation of the suggested rise. Expected trading range for today is between 1195.28 support and 1220.00 resistance. Expected trend for today: Bullish

Stricter norms for gold bar sales soon

Bullion dealers who sold gold bars at heavy premiums in exchange for old notes immediately after demonetisation will soon find that unaccounted cash sales will be more difficult. Industry officials and the head of a bullion federation said the government is formulating new rules that would end unaccounted gold transactions.

Govt’s gold recycling plan fails to tempt households

Mumbai: India’s ambitious plan to recycle thousands of tonnes of gold lying idle in temples and households looks to have foundered on concerns over high costs and slight returns, in a blow to government hopes of cutting imports of the metal.

Gold takes strength from local buying, jumps Rs 200

NEW DELHI: Breaking its 5-day fall, gold today rode on a wave of local buying activity as it rose Rs 200 to Rs 29,050 per 10 grams, aided by a firm global trend. Silver edged up on uptick in demand from industrial units and coin makers. Traders attributed the rebound in gold prices to a firm trend overseas and increased buying by local jewellers at the domestic spot market.

How much should you invest in gold?

When I was speaking to a group of women about investing, the inevitable question about gold came up. They seemed quite hesitant to ask about the place of gold in a household’s financial planning decisions, since accumulation of the yellow metal is not considered “modern.”

Gold, silver trade flat ahead of US Fed meeting

NEW DELHI: Gold and silver trades flat with negative bias on the Multi Commodity Exchange (MCX) in early trade on Tuesday as traders awaited the outcome of the two-day meeting of the US Federal Open Market Committee, which is scheduled to start later in the day. The US central bank is widely expected to raise interest rates.

Gold futures down at Rs. 28,308 per 10 gm

NEW DELHI, MARCH 14: Amid a weak global trend, gold futures traded down by Rs. 19 at Rs. 28,308 per 10 grams today as speculators cut down their bets. Gold for delivery in far-month June shed Rs. 19 or 0.07 per cent to Rs. 28,308 per 10 grams in a business turnover of six lots at the Multi Commodity Exchange. In a similar fashion, the metal for delivery in April was trading lower by Rs. 13 or 0.05 per cent to Rs. 28,238 per 10 grams in 211 lots.

Global gold prices steady ahead of US Fed meeting

Bengaluru: Gold prices were steady on Tuesday as investors awaited the start of a two-day US Federal Reserve meeting where the central bank is widely expect to raise interest rates. Signs of an uptick in inflation and continued strength in the US jobs market is expected to convince the Fed to hike rates when the meeting concludes on Wednesday.

Is gold overvalued or undervalued? Depends on how you look at it

Gold poses more difficulty than almost any other financial asset when it comes to determining fair value. The reason that there can be such a divergence of forecasts, according to Campbell Harvey, a finance professor at Duke University’s Fuqua School of Business: “Gold is poorly understood. There are many forces driving the price of gold, and the importance of those forces changes through time…. This is very hard to model.”

Another Keralite caught smuggling gold at Coimbatore airport

COIMBATORE: A 51-year-old man from Kerala was held with nearly one-and-a-half kilogram of gold plates at Coimbatore airport on early Monday morning. Sleuths attached to the directorate of revenue intelligence (DRI) said P R Divakaran, of Changanacherry near Kottayam in Kerala, tried to smuggle the gold plates worth around Rs 41 lakh in the open market concealed in a woofer box.

Getting A Handle On Gold Prices

In my more than 35 years of investing in hard assets, precious metals and mining, I’ve learned to manage my expectations of gold’s short-term price action. Sure, there have been surprises along the way, but generally, the yellow metal has behaved relatively predictably to two macro drivers, the Fear Trade and Love Trade. Last year, gold had its best first half of the year in decades, all in response to Fear Trade factors such as low to negative global government bonds and geopolitical risks, specifically Brexit and the upcoming U.S. election.

Solving the Secret Behind the Chinese Gold Market

The world is full of golden rules. There is one for every field: ethics, communication, fashion. But there is only one that counts, the golden rule of money: “Who has the gold makes the rules.” China, it seems, wants to make the rules in the international monetary system, which is why it has been acquiring vast amounts of gold both through private and official channels.

Gold Suddenly Looks Toppy

Despite all the money created in the aftermath of the Lehman fiasco and general banking insolvencies, something is fishy about gold. During the post-2011 period when gold began trending down, especially 2013 when QE 3 "should" have led to a high price of gold, the standard response by bulls on gold (NYSEARCA:GLD) was to look at the occasional severe bear market gold suffered in the 1970s despite heading from a free market price of gold around $44/ounce in 1971 to over $800 in early 1980.

The War on Gold and Silver Continues – Insanity Still Rules, But for How Long?

The emergence of an unexpected BREXIT victory, followed by an even more unlikely event, a Trump presidential victory are the outgrowth of the global elites having far exceeded their [almost] unspoken, unchallenged rule of the world, accomplished mostly by controlling the world’s money. Money. One of the most common words in every language, yet the least understood, and by preference and design re the moneychangers. We will address “money” solely from a US perspective, not out of arrogance, but because money has a lawful definition that has been turned upside down by the likes of Rothschilds and other banking elites.

Here’s what could Amount to be “The Game-Changer” in Silver (and Gold)

A timely question from a long-time subscriber resulted in crystalizing an idea that was on the distant periphery of my conscious thought. The great thing about the idea is that it fully incorporates all the data points up until now as I have been presenting them. But please be forewarned, even though all the important factual dots seem to be connected, the premise must still be considered speculative at this point. On the other hand, should the premise prove to be accurate, it could amount to no less than the game-changer in silver (and gold).

Why Did Silver Fall

The question on the lips of everyone who plans to exchange his metal for dollars—widely thought to be money—is why did silver go down? The price of silver in dollar terms dropped from about 18 bucks to about 17, or about 5 percent. The facile answer is manipulation. With no need of evidence—indeed with no evidence—one can assert this and not be questioned in the gold and silver communities.

Silver Price Bouncing into Resistance, ’Time Correction’ May Be Under Way

Silver prices turned around on Friday with the help of US dollar weakness despite a better than expected NFPs figure (235k vs. 200k expected). The bounce is carrying over so far to start the week, but is already facing resistance in the low-17s, an area we had penciled in as possible support last week. It’s been an important area on several occasions going back as far as June, and while silver saw no response there last week, we will still look to it on this bounce as a potential spot for silver to turn back lower from. Both gold and silver have yet to reach meaningful support levels (1180 & 16.64, respectively), and on that it is anticipated we will see further weakness in precious metals.

Gold loan cos set to lose sheen on RBI regulation

MUMBAI: India's gold-loan companies are headed for subdued business after the central bank reduced to a fifth the upper limit on cash non-banking finance companies (NBFC) could advance to borrowers, temporarily brightening the prospects of unorganised pawnbrokers of jewellery. Stocks of Muthoot FinanceBSE 1.33 % and Manappuram FinanceBSE 2.43 % fell up to 7% intra-day on Friday.

Gold notches first advance in 10 sessions

Gold futures marked their first advance Monday after nine straight sessions of losses, underpinned by uncertainty surrounding elections in the Netherlands, after strong expectations for a Federal Reserve interest-rate hike on Wednesday clobbered precious metals. Gold for April delivery GCJ7, -0.23% rose $1.70, or 0.1%, to settle at $1,203.10. The contract ended at $1,201.40 an ounce Friday—the lowest finish since Jan. 30. The metal’s nine-session slide had marked the longest streak of declines since July 2015, FactSet data showed. May silver SIK7, -0.28% also rose 4.9 cents, or 0.3%, Monday to finish at $16.972 an ounce.

Gold Declines on Stronger Dollar

Gold prices dropped $1.7 an ounce yesterday as a stronger dollar and gains in equity markets weighed on the metal and investors awaited outcome of the Federal Reserve’s policy meeting. Fed officials will update their forecasts for the growth, unemployment and inflation, and Chair Janet Yellen is scheduled to give a post-meeting press conference. The key levels remain unchanged, as the market is stuck in a relatively tight range.

Cycle Trading: Gold Facing Strong Headwinds

Monday was day 26 for the dollar's daily cycle. That places the dollar in its timing band for a daily cycle low. Monday's bullish reversal eases the parameters for forming a daily swing low. A break above 101.25 will form a swing low. Then a break above the declining trend line will confirm the new daily cycle. The dollar has established a daily uptrend. If a swing low forms then the dollar would have managed to avoid closing below the lower daily cycle band during its daily cycle decline. Which means that the dollar would remain in a daily uptrend.

Gold And Precious Metals Correct Lower

In 2016, gold and silver shrugged off the bear markets that dominated price action from 2011 through late 2015. In many ways, 2016 was a precious year for gold and silver as the price of the yellow metal rallied from $1,046.20 in December 2015 to highs of $1,377.50 in early July 2016. Silver did even better, appreciating from $13.635 during the month when gold made lows and exploded to $21.095 last July. From the late 2015 lows to the July highs, gold moved 31.7% higher, and silver posted a 54.7% gain.

Gold holds special fascination among investors

On each day from Feb. 27 to March 3, John LaForge, the head of real asset strategy for Wells Fargo Investments, released one publication revolving around the most frequently asked questions he has received from investors. (Search for “Wells Fargo Focus on Gold” to find these publications online.) He notes that gold is consistently one of the most asked about assets.

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