19th April, 2017

Daily Market Rates

India A.M. (19-04-17)

999 Gold - Rs. 29,530/-
995 Gold - Rs. 29,380/-
916 Gold - Rs. 27,050/-
750 Gold - Rs. 22,148/-
583 Gold - Rs. 17,275/-
999 Silver - Rs. 42,470/-





India P.M. (18-04-17)

999 Gold - Rs. 29,550/-
995 Gold - Rs. 29,400/-
916 Gold - Rs. 27,068/-
750 Gold - Rs. 21,163/-
583 Gold - Rs. 17,287/-
999 Silver - Rs. 42,850/-

Daily Gold Market Report

Gold attempts positively – Analysis - 19-04-2017
Gold price provided positive trading yesterday evening to approach from 1300.00 level, and begins today with a slight bearish bias affected by stochastic negativity, and it might be forced to decline temporarily again before it returns to resume the main bullish trend. In general, the bullish trend scenario remains valid on the intraday and short term basis, organized within the bullish channels that appears in the above chart, and the price gets continuous positive support from the EMA50, reminding you that our main targets begin by breaching 1300.00 level to open the way towards 1340.00, taking into consideration that breaking 1263.17 level will stop the suggested rise and pushes the price to extend its losses and testing 1250.00 levels and it might extend to 1227.00 before any new attempt to rise. Expected trading range for today is between 1275.00 support and 1305.00 resistance. Expected trend for today: Bullish

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Dear Jewellers,

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President - IBJA

One pro explains why he thinks there's upside to gold

Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital had presented an extremely bullish view on gold in a July 2016 interview with CNBC, predicting at the time that it could hit all-time highs in the subsequent 18 months. Back then, Gold was trading at $1,340. On Wednesday, the precious metal was trading at about $1,289.

Gold, silver edge lower in early trade

NEW DELHI: Precious metals gold and silver were trading lower in early trade on the Multi Commodity Exchange (MCX) on account of subdued demand from investors, jewellers and industries. The yellow metal was trading 0.39 per cent, or Rs 115, down at Rs 29,399 per 10 gram, while the white metal was down 0.49 per cent, or Rs 207, at Rs 41,980 per 1 kg.

Gold steady on weak dollar, geopolitical worries

Gold held steady on Wednesday, supported by a weaker dollar, geopolitical concerns about North Korea and nervousness ahead of the French presidential election. Spot gold was down 90 cents at $1,288.39 per ounce as of 0055 GMT. The metal hit its highest since early November at $1,295.42 on Monday before closing lower, and rose 0.4 per cent on Tuesday.

This chart shows that gold is closing in on a nasty level

Gold's rally doesn't mean investors should count on more gains. That's according to Oppenheimer technician Ari Wald, who sees a limit on gold's run in the charts. While Wald isn't bearish on gold, he does see "more attractive opportunities in stocks."

Smuggled gold bars, jewellery worth ₹70 lakh in Mumbai airport washroom

The air intelligence unit (AIU) of Mumbai customs found gold bars and jewellery collectively worth Rs70 lakh in a washroom of the Chhatrapati Shivaji International Airport early on Wednesday. AIU officials said they examined CCTV camera footage of the airport, which helped them find vital clues as to the identify of the suspects. “We found assorted gold jewellery weighing 1.3 kg and nine gold bars bearing foreign markings collectively weighing 1kg. The gold is collectively worth Rs70.65 lakh,” said an AIU officer.

Why gold isn’t the safe haven it’s cracked up to be

How much of gold’s recent strength is due to geopolitical worries about Syria and North Korea? Surprisingly little, as it turns out. You therefore may want to think again if you are betting on gold GCM7, -0.57% as a hedge against an escalation of geopolitical tensions. I know this advice runs counter to the conventional wisdom that gold is a safe haven, much in the same way that U.S. Treasurys reliably rally whenever there is trouble anywhere in the world. But history does not support that same conventional wisdom about gold.

Gold shakes off weakness to eke out a gain as dollar falls

Gold prices shook off earlier weakness Tuesday to finish higher—stretching a streak of gains to a fifth session on the back of political uncertainty in France and the U.K., declines in U.S. equities and other risk assets, and weakness in the dollar. “We have elections over in the U.K., France, Germany—and [U.S. President Donald] Trump over in America,” said Naeem Aslam, chief market analyst at Think Markets. “We think that [gold as a] safe haven could be an interesting trade.”

Gold price on verge of breaking 6-year downtrend

While iron ore and copper prices were marked down sharply on Tuesday, gold managed to turn around a weak start to the day to eke out a slight gain by the end of regular trading. In brisk dealings on the Comex market in New York gold for delivery in June was exchanging hands for $1,294.10 an ounce, the highest close since November 4 and up more than 12% so far this year. In a research note Ole Hansen, Head of Commodity Strategy at Saxo Bank, points out this long-term chart which shows how gold once again has reached a critical area.

Gold-Silver Divergence

This was a holiday-shorted week, due to Good Friday, and we are posting this Monday evening due to today being a holiday in much of the world. Gold and silver went up the dollar went down, +$33 and +$0.53 -64mg gold and -.05g silver. The prices of the metals in dollar terms are readily available, and the price of the dollar in terms of honest money can be easily calculated.

Polymetal gold output rises; keeps 2017 targets

LONDON--Polymetal International PLC (POLY.LN) Wednesday reaffirmed its 2017 production and cost targets as it recorded first quarter production growth. The Russian gold miner said it produced 280,000 ounces of gold equivalent during the first quarter ended March 31, which represents an 8% increase over the year earlier. The performance was helped by a strong performance at Omolon and contributions from its newly acquired operations - Komar (Varvara) and Kapan, the company said.

Gold Prices Resist Trend-Line as Rate-Hike Rally Extends

When the Fed hiked rates in December, Gold prices bottomed and then spent much of the next 2 ½ months rallying. And then again in March, the Fed hiked rates shortly after which Gold prices set a ‘higher-low’ before rallying for the next month. As of now, that most recent rally hasn’t yet calmed, and prices are continuing to volley-higher while geopolitical pressures mount.

Alkane Resources boosts quarterly gold production Share

Alkane Resources (ASX:ALK) has increased gold production by 59% to 18,721 ounces during the March quarter at its Tomingley Gold Operations in New South Wales. While production was above forecast, it also reflected the recovery from the weather affected previous two quarters. Site operating cash costs reduced by 33% from previous quarter at A$1,070 per ounce with all in sustaining costs (AISC) of A$1,201 per ounce

A Bullish Breakout for Silver Prices more Probable than Rally Reversal

– Zachary Storella: 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. The non-commercial futures contracts of Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 105,515 contracts in the data reported through April 11th. This was a weekly gain of 4,133 contracts from the previous week which had a total of 101,382 net contracts.

Silver to trade in 41324-42800: Achiievers Equities

Silver trading range for the day is 41324-42800. Silver prices dropped as election uncertainty in France and the United Kingdom weighed on investors’ sentiment after the Easter long weekend. The IMF raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan and China Lingering worries about the upcoming French presidential elections on April 23 further supported demand for assets perceived as safer.

Silver prices fall by Rs 288 in futures trade on global cues

Silver prices dropped by Rs 288 to Rs 42,401 per kg in futures trade today as participants indulged in cutting down their bets amid a weak trend overseas. Moreover, profit-booking at prevailing levels by speculators weighed on silver prices. At the Multi Commodity Exchange, silver for delivery in far-month July was trading lower by Rs 288, or 0.67 per cent, to Rs 42,401 per kg, in a business turnover of 19 lots.

Silver Price Forecast: Prices Likely To Rise In A Concentrated Manner

Furthermore, it appears to be the first time that these ideal economic conditions, for a rise in silver prices, align in such a timely manner; in particular, the bottom in interest rates, the peak in stock markets, as well as the coming collapse of the monetary system. Potentially all of these events can happen within a two to three-year period.

Expect Silver prices to trade sideways: Sushil Finance

Sushil Finance's report on Silver Silver turned down 0.4 percent to $18.445 an ounce after touching a five-month high of $18.649. Outlook We expect silver prices to trade sideways on the back of profit booking after up-move.

Huge Decline In Peru’s Silver Production Suggests Future Supply At Risk

The Peru Ministry of Energy and Mining just released their silver production data for February, and it was a whopper to the downside. Actually, I was quite surprised to see how much Peru’s silver production declined versus the same month last year. Also, Peru’s gold February production took a similar big hit.

Americas Silver gains momentum in transition to low-cost producer by 2018

VANCOUVER (miningweekly.com) – Bolstered by improving silver and base metals prices, junior miner Americas Silver is in the home stretch to deliver on a four-year turnaround strategy at its two operating mining complexes in Sinaloa state, Mexico and Idaho, in the US.

Gold, Silver Weaker On Mild Profit-Taking, Chart Consolidation

(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Tuesday. Some normal backing and filling on the charts and profit-taking from the shorter-term futures traders are featured. However, selling pressure is light due to ongoing worries about geopolitics and amid a slumping U.S. dollar index.

Gold-Silver Divergence

This was a holiday-shorted week, due to Good Friday, and we are posting this Monday evening due to today being a holiday in much of the world. Gold and silver went up the dollar went down, +$33 and +$0.53 -64mg gold and -.05g silver. The prices of the metals in dollar terms are readily available, and the price of the dollar in terms of honest money can be easily calculated. The point of this Report is to look into the market to understand the fundamentals of supply and demand. This can’t necessarily tell you what the price will do tomorrow. However, it tells you where the price should be, if physical metal were to clear based on supply and demand.

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