20th March, 2017

Daily Market Rates

India A.M. (20-03-17)

999 Gold - Rs. 28,710/-
995 Gold - Rs. 28,560/-
916 Gold - Rs. 26,298/-
999 Silver - Rs. 41,450/-

 

 

 

 



India P.M. (17-03-17)

999 Gold - Rs. 28,640/-
995 Gold - Rs. 28,490/-
916 Gold - Rs. 26,234/-
999 Silver - Rs. 41,325/-

Monday, March 20

Financial markets in Japan will be closed for a holiday.
Canada is to release data on wholesale sales.
Chicago Fed President Charles Evans is to speak about current economic conditions and monetary policy at the National Association for Business Economics luncheon in New York.

Daily Gold Market Report

Gold succeeds to breach – Analysis - 20-03-2017
Gold price opens this week trading with clear positivity that allows it to breach 1231.13 and closes the first four hours’ candlestick above it, which supports the continuation of our bullish trend expectations efficiently in the upcoming period, easing the way towards visiting the previously recorded top at 1263.17 as a next main target. Therefore, the bullish trend will remain preferred on the intraday and short term basis, supported by the EMA50 that carries the price from below, being aware that breaking 1231.13 level will stop the suggested rise temporarily and pushes the price for a potential test to 1211.30 levels before any new attempt to rise. Expected trading range for today is between 1225.00 support and 1250.00 resistance. Expected trend for today: Bullish

India international Bullion Summitt ( IIBS-4)
Chief Guest, Mr. Ashish Chauhan (MD - BSE) along with other dignitaries at the Opening Ceremony of IIBS - 4

Panel Discussion 1 - Bullion - World vs India

Panel Discussion 2 - Impact Of GST

Panel Discussion 3 - Assaying & Hallmarking

Panel Discussion 4 - Issues Of Manufactures, Wholesalers & Retailers

IBJA Awards 2017

Gold / Silver / Copper futures - weekly outlook: March 20 - 24

Investing.com - Gold prices rose on Friday as expectations of a slower pace of U.S. interest rates hikes than some investors had anticipated continued to weigh on the dollar. Gold for April delivery settled up 0.15% at $1,229.00 on the Comex division of the New York Mercantile Exchange. Gold touched its highest since March 6 on Thursday, at $1,231.4 and ended the week with a gain of 1.92%. The Federal Reserve raised interest rates to 1% on Wednesday; the second hike in three months and stuck to its outlook for two more rate hikes this year and three in 2018.

Gold, sliver edge higher; yellow metal seen hitting Rs 28,800 level soon

NEW DELHI: Gold prices on MCX inched higher in futures trading on Monday, tracking firm cues from global markets, as the less-than-expected hawkish comments by the US Fed in its recent policy review dragged the US dollar to November lows.

Gold can't be default option

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'. But they seemed somewhat unwilling to concede that buying gold is not a sound financial decision. Our views about gold are mired in social practices and customs that have persisted over a long time. We should question these views.

Spot gold, silver prices surge on weak dollar index

NEW DELHI: Spot prices of gold and silver went up on Monday morning on the back of a weak dollar index. The spot price of 999 gold was at Rs 28710 per 10 gm - up by Rs 70 in comparison to Friday's closing. Gold of 995 purity was also higher by Rs 70 per 10 gm on Monday morning in the spot market compared to Friday's closing.

Gold futures rise to Rs. 28,681 per 10 gm

NEW DELHI, MARCH 20: Gold prices were trading up by Rs. 85 at Rs. 28,681 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 June moved up by Rs. 85 or 0.3 per cent to Rs. 29,682 per 10 grams in a business turnover of 18 lots. The metal for delivery in April was trading higher by Rs. 84 or 0.29 per cent at Rs. 28,593 per 10 grams in a turnover of 400 lots. Analysts said a firm trend in global market amid dollar's weakness raised the demand for the precious metal, which in turn influenced the metal prices at the futures trade.

Salesman Who Bought Gold in Jungle Will Fight Laundering Charges

Juan Pablo Granda had a simple job -- go into South American jungles and buy gold for smelting by his employer, NTR Metals. After U.S. investigators began examining what role NTR may have played in supporting illegal mines in Peru, Granda agreed to help Jones Day, an outside law firm hired by the company, his lawyer said. So when NTR told him to fly home last week for a meeting, nothing seemed amiss. But by the time that was over, he’d been fired. Then his mother called from the home they shared in Miami.

Gold Weekly Update 3/18/17

We are unapologetic gold and precious metal bulls for the long-term. We agree with J.P. Morgan, who said that "gold is money, and everything else is credit." We won't rehash all of the arguments for precious metals here. Most readers will know that there is a full spectrum of gold bugs and gold market enthusiasts from which to choose. Thankfully, we are relatively new converts to a belief in "hard money." Otherwise, we may have suffered the last several years as gold price has fallen on hard times. The monthly chart of gold shows that gold remains in a downtrend since mid-2011. Interestingly, the price of gold almost tapped the downtrend line the night of Donald Trump's election (red arrow) before shooting lower. An investor in gold such as the SPDR Gold Trust (NYSEARCA:GLD) will want gold to breakthrough the downtrend line some time in 2017 (blue arrow).

Golden Rules for Investors: 8 Things to Consider Before Buying Actual Gold

It's a fantasy that may resonate with children of a certain era: swimming in a vault piled nearly to the ceiling with glittering gold bullion. It was a regular pastime of the cartoon character Scrooge McDuck in the late-1980s animated classic, Duck Tales. In fact, his mammoth holdings of the precious metal helped propel him to the top of at least one list of the world's richest fictional characters.

Why is gold still above $1,200 despite strong dollar?

As global financial markets begin to unwind for the first quarter of 2017 and as the news headlines gradually move away from the persistent focus on US President Donald Trump, there has been an unusual market trend that has developed over the first three months of the new year - the rebound in the price of gold and consistent strength in the US dollar. This is not the usual correlation to expect as an investor when you consider that gold is an asset denominated in dollar and strength in the dollar should lead to weakness in gold. Therefore it is time to ask the question: what is actually going on?

Gold to trade in 28336-28616: Achiievers Equities

Gold trading range for the day is 28336-28616. Gold gained as the dollar plumbed to fresh five-week lows after the U.S. central bank's signal of a slower pace of rate increases this year disappointed dollar bulls. The U.S. Federal Reserve delivered an interest rate increase as widely anticipated, but did not alter its earlier forecast for a total of three rate increases this year. Rutte's victory was hailed across Europe by governments facing a rising wave of nationalism, denting gold's safe-haven appeal. BUY GOLD APR 2017 @ 28480 SL 28300 TGT 28600-28740.MCX.

Silver futures spurt to Rs. 41,040 per kg

NEW DELHI, MARCH 20: Silver prices spurted Rs. 131 to Rs. 41,040 per kg at the futures trade today as speculators built up positions amid a higher global trend. At the Multi Commodity Exchange, silver for May was trading higher by Rs. 131 or 0.32 per cent at Rs. 41,040 per kg in a business turnover of 473 lots. Also, the white metal for delivery in July was up by Rs. 126 or 0.3 per cent at Rs. 41,537 per kg in 9 lots. Analysts said speculators created fresh positions in tune with a higher global trend which influenced silver futures prices here.

Silver Market Update 3/18/17

This is the first of a weekly market update for silver, where we will update the key drivers of our silver and related investments like the iShares Silver Trust (NYSEARCA:SLV). Like many, we view the silver market as fundamentally undervalued in relation to gold; however, we don't recommend that investors pile into silver due to the current high gold to silver ratio. Before a monetary reset occurs (if indeed it happens in our lifetimes), the gold/silver ratio could move in unexpected ways.


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