17th April, 2017

Daily Market Rates

India A.M. (17-04-17)

999 Gold - Rs. 29,535/-
995 Gold - Rs. 29,385/-
916 Gold - Rs. 27,054/-
750 Gold - Rs. 22,151/-
583 Gold - Rs. 17,278/-
999 Silver - Rs. 43,060/-





India P.M. (13-04-17)

999 Gold - Rs. 29,295/-
995 Gold - Rs. 29,145/-
916 Gold - Rs. 26,834/-
750 Gold - Rs. 21,971/-
583 Gold - Rs. 17,138/-
999 Silver - Rs. 43,095/-

Daily Gold Market Report

Gold approaches from the first target – Analysis - 17-04-2017
Gold price opens today’s trading with a bullish gap to approach from our first waited target at 1300.00, which supports the continuation of the bullish trend scenario in the upcoming period, which organizes within the price channels that appear in the image, waiting for extending the bullish wave to reach 1340.00 as a next main target. Therefore, we will keep our positive expectations on the intraday and short term basis, supported by the EMA50 being aware that holding above 1263.17 represents the first condition for the continuation of the suggested rise, where breaking it might push the price to visit an important critical levels that begin at 1250.00 and might extend to 1225.00 before any new attempt to rise. Expected trading range for today is between 1280.00 support and 1320.00 resistance. Expected trend for today: Bullish

Jewel Trendz Gems & Jewellery Show Ahmedabad


Dear Jewellers,

IBJA supports the upcoming "KJ National Gems & Jewellery Exhibition" in Lucknow from 28th to 30th May 2017 at Golden Blossom (Imperials resorts) NH-28.

All jewellers are hereby requested to participate and visit the show.

For further details contact Mr Ashok Verma: 0938692125, 07033586581

Mukesh Mehta
President - IBJA

Gold price: Find all the latest trends and news about the yellow metal

NEW DELHI: Gold hit a five-month high on Monday as the dollar weakened with investors taking refuge in safe-haven assets in the wake of rising geopolitical tensions over North Korea. Spot gold was up 0.5 per cent at $1,291 per ounce as of 0239 GMT, after hitting its highest since early November at $1,295.42.

Gold prices to rise further amid escalating geopolitical tensions

Mumbai: Even as international gold prices hit a five-month high last week, the outlook for the yellow metal is still robust, as heightened geopolitical tensions, with the US bombing Syria and Afghanistan, have triggered a flight to safety.Last week, the US dropped the largest non-nuclear bomb ever used in a combat, in Afghanistan — killing as many as 36 suspected Islamic State militants. This comes after US-Russia relations hit another low after the Syria gas attacks on 4 April that prompted the US to launch missile strikes on a Syrian air base.

Two Sri Lankan traders smuggle 25 gold bars in rectum, held at Mumbai airport

Two Sri Lanka nationals were arrested at the Chhatrapati Shivaji International Airport for allegedly smuggling 25 gold bars worth Rs87.45 lakh in their rectum on Saturday night. According to the Air Intelligence Unit (AIU), both the arrested accused — Jameer Abdul Wahid, 42, and Althaf Sahul Hameed, 48 — are frequent fliers. Wahid, who flew in from Dubai, was intercepted at the arrival hall and then 13 gold bars weighing 1,516 grams and valued at Rs 45.48 lakh were recovered from his rectum.

Spot gold to rise to $1,303

SINGAPORE, April 17 (Reuters) - Spot gold is expected to rise to $1,303 per ounce, as it has broken above a resistance at $1,282. For a chart: http://tmsnrt.rs/2pnYuwx The resistance was provided by the 61.8 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the Dec. 15, 2016 low of $1,122.35.

Gold prices higher in Asia with Korean tensions, China GDP eyed

Investing.com - Gold prices were quoted higher in Asia on Monday as tension on the Korean peninsula support the precious metal and investors look ahead to China GDP figures for the first quarter for demand by the world's second largest importer behind India. Gold for June delivery on the Comex division of the New York Mercantile Exchange was last quoted up 0.58% to $1,296.50 a troy ounce, while silver futures were cited at $18.590 a troy ounce and copper futures at $2.570 a pound.

Gold and note ban: How black money turned white, then yellow

January-March 2017 has been the best fourth quarter in terms of gold imports since early 2013. Gold imports in the last quarter stood at 230 tonnes, and more than 100 tonnes is estimated to have been imported in March alone. But for the blip in December, gold imports have gone up significantly following the government’s announcement of demonetisation, after being subdued for the first seven months of 2016-17.

Gold futures rise to Rs. 29,459 on firm global cues

NEW DELHI, APRIL 17: Gold prices rose Rs. 50 to Rs. 29,459 per ten grams at the futures trade as speculators raised bets, tracking a firm trend overseas. Gold for delivery in June jumped Rs. 50 or 0.17 per cent to Rs. 29,459 per 10 grams in a business turnover of 725 lots. Analysts said widening of positions by speculators in step with a firm trend in global markets as continued geopolitical tensions boosted the metal’s appeal as a haven asset, influenced gold prices at the futures trade. Globally, gold traded at $1,291.60 an ounce in Singapore.

Popular Gold Miner ETF To Change Dramatically

Earlier this week, ETF.com reported that the VanEck Vectors Junior Gold Miners ETF (GDXJ) may have become too big for its index, the MVIS Global Junior Gold Miners Index. The $5.4 billion exchange-traded fund owns giant positions in its underlying holdings, putting it at risk of violating certain Canadian and U.S. regulatory thresholds. To avoid crossing those thresholds, the ETF bought up stocks of companies that aren't in its index―creating a significant divergence between the ETF components and the index components. On Thursday, VanEck (which runs both the ETF and index) acknowledged the divergence by announcing it would broaden the scope of the index and include many more gold miner stocks in the portfolio at the next rebalance date.

Latest gold, forex rates in UAE

Emirates 24|7 brings you the daily Dubai gold rate (22k, 24k, 21k and 18k), as well as currency exchange rates, including the Indian rupee, Pakistani rupee, Philippine peso, Sri Lankan rupee, sterling pound, euro and may more against the UAE dirham (US dollar). The rates for 24 carat, 22 carat, 21 carat, 18 carat and Ten Tola (TT) Bar (11.6638038 gram) will be updated four times a day to keep them fresh and relevant for buyers of gold bars and gold jewellery in the UAE.

Gold Price Pullback to Give Way to Fresh 2017 High in 2Q

Last quarter we highlighted th at gold prices had approached a "critical support confluence in late-December at 1220/30- a level defined by the 161.8% extension of the decline off the yearly highs, the 76.4% retracement of the advance off the 2015 low, the 2014 low and the lower parallel of the embedded descending parallel formation. Note that the lower-median-line parallel extending off the 2015 low comes in just below and the immediate downside bias is at risk into this key region." That, in fact, turned out to be THE low in gold with prices ripping higher into the start of the year.

Silver futures up at Rs. 42,633 per kg

NEW DELHI, APRIL 17: Silver prices were up by Rs. 62 at Rs. 42,633 per kg at the futures trade as participants indulged in enlarging positions amid a firm trend in precious metals overseas. Silver for delivery in July was trading up by Rs. 63 or 0.15 per cent at Rs. 43,111 per kg at the Multi Commodity Exchange in a business turnover of 8 lots. Likewise, the white metal for delivery in May was trading higher by Rs. 62 or 0.15 per cent at Rs. 42,633 per kg in 334 lots.

‘Silver’ to strike gold

$100,000, Grade Three contest, in which rookie trainer Jake O’Brien saddles his first graded stakes runner in the form of Valorous. Jake’s father, John, O’Brien saddles the trio of Rocket Wheels, Leading and Lord Silver; while Harold Chadee sends out the duo of Set Sail and Royal Moon; and Bobby Persad will be represented by Hello. The winner of this race will likely assume the role of favourite for 1,800-metre Guineas on June 19.

Silver Speculators Pushed Bullish Net Positions To New Record High

Large speculators and traders continued to boost their bullish net positions in the silver futures markets last week for a third consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

Four robbers arrested, 18 kg silver bricks recovered

Ghaziabad, April 16 (IANS) Four robbers were arrested here and 18 kg of silver bricks looted from two employees of a Meerut jeweller recovered, police said on Sunday. Police said that on March 28, nine criminals looted the silver bricks from two employees – Monu and Neetu – of the Meerut-based jeweller Bhushan Swaroop Jain in Sihani Gate police station area.

Silver Has Finally Done It

After battling repeated rounds of selling pressure and profit booking, precious metal silver seems to have overcome the final hurdle before it targets $21. This achievement has come alongside a powerful upmove in gold (NYSEARCA: GLD), which is probably staring at the beginning of a multi-year bull market. This might be a good time for the shorts to cover their positions as a massive appreciation in silver is on the cards.

What next for gold investors?

The gold fever is back. The yellow metal has been climbing over the last few weeks. With tensions in North Korea, speculative bets on the metal increased. Trump’s concern over the strong dollar which took some steam away from the currency has also helped the metal. But still, if we see the one-year returns chart of gold, it is hardly inspiring. Even as equities put up a stunning performance during the last one year with returns exceeding 30 per cent, gold’s return stands at 3 per cent in dollar terms and at a little over 1 per cent in rupee terms.

Gold imports surge higher after note ban

The January to March 2017 period has been the best 4th quarter in terms of gold import since early 2013. Gold imports for Q4 stood at 230 tonnes. In the month of December gold imports took a vertical climb, post the note ban move taken by the government, after being subdued for the first 7 months of 2016-17. From the period of April to October 2016, 264 tonnes of gold was imported, while in the next 5 months, imports jumped up to 360 tonnes.

Too Big: Gold Mining Juniors ETF Shows Cracks In Indexing Model

Active investors love to complain about how passive investors are terrible for the stock market. Some deride passive investors as "freeloaders", others suggest worse yet fates for the market as a whole involving illiquidity, mispriced assets, and various other ills. I discussed Bill Ackman's annual letter last year, where he aired these sorts of complaints about indexing.

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

©2015 Company name. All rights reserved.

www.ibja.co | www.iibsummit.in | www.ibjawards.in | www.ibjafashionshow.in | info@ibja.in