18th April, 2017

Daily Market Rates

India A.M. (18-04-17)

999 Gold - Rs. 29,520/-
995 Gold - Rs. 29,370/-
916 Gold - Rs. 27,040/-
750 Gold - Rs. 22,140/-
583 Gold - Rs. 17,269/-
999 Silver - Rs. 42,895/-





India P.M. (17-04-17)

999 Gold - Rs. 29,575/-
995 Gold - Rs. 29,425/-
916 Gold - Rs. 27,091/-
750 Gold - Rs. 21,181/-
583 Gold - Rs. 17,301/-
999 Silver - Rs. 43,170/-

Daily Gold Market Report

Gold gets the positive momentum – Analysis - 18-04-2017
Gold price provided negative trading yesterday after approaching from 1300.00 barrier, showing signals for a bullish curve now supported by stochastic positivity that appears on the four hours time frame, which supports the continuation of the bullish trend that organizes within the bullish channel that appears in the image, waiting for breaching 1300.00 level to confirm opening the way towards our next target at 1340.00. Therefore, our bullish trend expectations remain valid and active in the upcoming period, pointing that the EMA50 keeps supporting the price from below, while holding above 1263.17 represents the first condition for the continuation of the suggested bullish trend, where breaking it will push the price to visit 1226.00 levels before any new attempt to rise. Expected trading range for today is between 1270.00 support and 1305.00 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’s found a new pocket of opportunity

"Don't gain the world and lose your soul; wisdom is better than silver or gold." You may have to read the quote more than once, but Bob Marley knew what he was talking about. At the moment, investors seemingly disagree a bit with him, and they have pushed spot gold up around 8 percent higher since the beginning of the year.

Gold firm as North Korea worries offer support

Gold held steady on Tuesday supported by geopolitical tensions over North Korea and after falling from a five-month high in the previous session on a firmer dollar. Spot gold was mostly unchanged at $1,283.96 per ounce by 0246 GMT, after climbing to $1,295.42 in the prior session, its highest since Nov. 9. US gold futures were down 0.5 per cent at $1,285.50.

Gold trades lower in early trade on profit booking; brokerages bullish

NEW DELHI: After a recent run-up in the precious metal space, gold and silver prices were trading lower in early deals on Tuesday on account of profit booking in the bullion space. The yellow metal was trading 0.33 per cent down at Rs 29,333 per 10 gram around 10.20 am (IST), while the white metal silver was trading 0.46 per cent down at Rs 42,302 per 1 kg.

Gold may shine brighter this Akshaya Tritiya

KOLKATA: Gold traders are expecting Akshaya Tritiya sales to be better than last year on the back of lower year-on-year prices and a steady improvement in supply of cash at ATMs. Demand for gold on the April 28 Hindu festival, which some communities consider auspicious for buying gold, could also swell on buyers' fears that the goods and services tax (GST) could turn the metal costlier, they said. The current 1% VAT may be replaced by a 6% GST in addition to the import duty which stands at 10%.

Equity is a better bet than gold; be choosy about real estate: Nilesh Shah, Kotak AMC

I have quoted in that article one incidence of Shri RK Damani when HDFC BankBSE 0.66 % got listed on stock exchanges, he was the pick buyer of that stock. He kept on buying it at not only at high prices but also at very high valuations and he kept on buying it, become the single largest individual owner of that company.

Profit-taking, weak global cues pull gold futures down to Rs. 29,316

NEW DELHI, APRIL 18: Gold futures traded lower by Rs. 114 at Rs. 29,316 per 10 grams today due to a weak global trend and profit-booking by speculators. Gold for delivery in June was trading lower by Rs. 114 or 0.39 per cent at Rs. 29,316 per 10 grams in a business turnover of 557 lots at the Multi Commodity Exchange. On similar lines, the metal for delivery in far-month August eased Rs. 95 or 0.32 per cent to Rs. 29,470 per 10 gram in 18 lots.

Gold: Next Stop $1,360, Then $10,000?

Gold finally breached through the 200-day moving average last week, with the closely watched technical indicator having brought a halt to bullion’s run a couple of times in 2017. However, the last time the gold price broke above the 200-moving day average was in November, but the breakout was only short lived.

Gold hunters stalk & grab booty from Hyderabad jeweller

HYDERABAD: In a scene straight out of a Telugu potboiler, a jeweller, who was busy replacing his Skoda Octavia's deflated tyre, was robbed of gold ornaments weighing 3.5kg -kept in a bag and left in the front legroom of the car -at Kukatpally on Sunday. The value of the ornaments was pegged at Rs 70 lakh. An unidentified woman walked up to the car, opened the door and pulled out the ornaments' bag. She then coolly walked away. A little later, the jeweller discovered what had happened, but by then it was too late.

Gold Is At Turning Point

These days, gold prices are mainly driven by the Fed's monetary policy, geopolitical tension, and the French election. I believe that in the near future the precious metal's prices will find a direction because of these factors. In this article, I will analyze the above-mentioned drivers and their possible impact on gold prices in the short term.

Falling US yields, soaring gold prices and emerging market equities

Yields on the US 10-year Treasury note have plunged lately, falling to 2.2%, well below the levels they had reached a month ago, as chart 1 shows. US data has been downbeat recently, with retail sales weak in March, while consumer prices in the US dropped 0.3% month-on-month. That has led to Fed Fund futures pointing now to a less than 50% probability of the US central bank raising rates at its June meeting. The US 10-year bond yield is now back to where it was in mid-November.

Is Gold’s Comeback Real, Or Just Another Tease?

Gold has been languishing for several years in the absence of inflation. Yet the yellow metal quietly reached a five-month high and vaulted a few technical barriers in the process. While the long-term picture is still rather unconvincing on gold – and silver – the short term is looking much better.

Gold Prices Rise As Demand In This No.1 Gold Market Soars

Sentiment has turned up in the gold market the last few weeks. And new data from the world’s top consuming center — India — shows there may indeed be cause for optimism amongst bullion buyers. Data reported in the local press showed that India’s gold imports saw a big jump during the most recent quarter, January to March 2017. With total imports for the period hitting 230 tonnes.

Vietnam authorities to investigate illegal gold mining

News reports from Vietnam suggest that the country’s Deputy Prime Minister Truong Hoa Binh has taken to heart complaints about environmental destruction caused by illegal gold mining in the Bong Mieu area. According to the VietNamNet Bridge, Truong Hoa Binh has asked authorities in the central Quang Nam Province to investigate reports of dozens of people flocking to Bong Mieu every day to extract gold. They use cyanide to filter the gold and then release it directly into nearby streams. The practice has resulted in increased levels of pollution to both water and soil resources used by the local community.

Gold Prices May Resume Advance on French Election Jitters

A worried tone at the open of the trading week proved fleeting as Wall Street returned online after the Easter holiday. Gold prices reversed from intraday gains as recovering sentiment weighed against Treasury bonds and bid up yields, boosting the US Dollar along the way. Not surprisingly, this undermined support for non-interest-bearing and anti-fiat assets.

Gold softens on muted demand; silver slips below Rs. 43K level

NEW DELHI, APRIL 17: Gold prices eased Rs. 50 to Rs. 29,900 per 10 grams today owing to slack demand from local jewellers even as the metal strengthened overseas. Silver followed suit and slipped below the Rs. 43,000-mark by falling Rs. 50 to Rs. 42,950 per kg due to lower offtake. Traders said sluggishness in demand from local jewellers and retailers mainly kept up pressure on precious metal prices, but a firm trend overseas as geopolitical tensions drove the flight to safety, capped the fall.

Econ 101 -- Silver Market Manipulation

Some say that everything you need to know you learned in kindergarten. I suppose that's true to some extent. However, to fully understand the forces at play in Comex Digital Metal, it might be good to review some of the basic economics that are often taught in introductory Econ classes at your local college or university.

Gold remains up on firm global cues, silver strengthens

Gold prices surged by Rs 280 per 10 grams at the bullion market today, tracking a firm global trend and pick up in buying by jewellers and retailers amid wedding season demand. Silver prices continued its upward journey for the fourth day, on increased offtake by industrial units. Standard gold (99.5 purity) gained by Rs 280 to end at Rs 29,425 per 10 grams as against Thursday's closing level of Rs 29,145. Pure gold (99.9 purity) also rallied by a similar margin to conclude at Rs 29,575 per 10 grams as against Rs 29,295 previously.

Weekly Gold And Silver: Correction Is Over

The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.

Silver to trade in 42129-42915 : Achiievers Equities

Silver trading range for the day is 42129-42915. Silver prices gained as investors continued to back the precious metal amid geopolitical concerns while mostly upbeat economic data failed to weigh on sentiment. In an interview in the Wall Street Journal Trump said the U.S. dollar “is getting too strong” and would eventually hurt the economy. Data showed that the number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that the labor market remains firm. BUY SILVER MAY 2017 @ 42600 SL 42400 TGT 42850-43100.MCX

Endeavour Silver: Is It Time To Buy The Dip?

Endeavour Silver (NYSE:EXK) has not been one of the best performing silver mining stocks over the past few months. While shares have rebounded a little bit from my last article in early March, shares are still down 9.09% year-to-date, compared to an 18.19% gain in the Global X Silver Miners ETF (NYSEARCA:SIL) and a 15.99% gain in silver prices (NYSEARCA:SLV). Endeavour recently announced its Q1 production results, and while production was down sharply, the investment case for Endeavour is still strong.

Silver’s Price Seasonality

We talked about silver for the medium term in yesterday’s article Silver Price Close To Major Breakout. As discussed, the article was focused on a potential tactical breakout in silver, leading to a short to medium term bull market. Readers reacted to that article, asking what to make out of it in the bigger scheme of things, which is the topic we discuss in today’s article. Exceptionally, we will also look at seasonality in the price of silver. Although we do not consider seasonality a primary indicator, but rather a secondary indicator, we believe this is an interesting month for reasons outlined below.

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

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Tel: +91-22 49098950 / 49098960
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