1st August, 2018

Daily Market Rates

India A.M. (01-08-18)

999 Gold - Rs. 29,820/-
995 Gold - Rs. 29,670/-
916 Gold - Rs. 27,315/-
750 Gold - Rs. 22,365/-
585 Gold - Rs. 17,445/-
999 Silver - Rs. 37,905/-





India P.M. (31-07-18)

999 Gold - Rs. 29,825/-
995 Gold - Rs. 29,675/-
916 Gold - Rs. 27,320/-
750 Gold - Rs. 22,369/-
585 Gold - Rs. 17,448/-
999 Silver - Rs. 37,940/-

Wednesday, August 1

New Zealand is to publish its latest employment report.
The UK is to release data on manufacturing sector activity.
In the U.S., the ADP nonfarm payrolls report and the Institute for Supply Management’s manufacturing index will be released. Later in the day, the Fed is to announce its latest monetary policy decision and publish its rate statement.

Daily Gold Market Report

Gold price gets a negative signal – Analysis - 01-08-2018
Gold price found difficulty to confirm breaking 1218.75 level yesterday, to trade with intraday positivity, but the EMA50 managed to stop the positive attempts, accompanied by witnessing negative signals through stochastic. Therefore, these factors support the continuation of the recently suggested bearish trend scenario, which depends on the price stability below 1246.50 level, while 1204.50 level represents our next main target. Expected trading range for today is between 1204.00 support and 1230.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver price keep its negative stability – Analysis - 01-08-2018
Silver price keeps its stability below 15.50 level, while the EMA50 keeps pressing negatively on the price. Therefore, we will keep our bearish overview for the upcoming period conditioned by the price stability below the above mentioned level, reminding you that our next main target is located at 14.77. Expected trading range for today is between 15.20 support and 15.60 resistance. Expected trend for today: Bearish

IBJA announces launch of "Indian Jewellers Week" (IJW) a dream project for manufacturers and wholesalers across India with its first edition at Zaveri Bazaar, Mumbai from 1st to 7th October 2018. IJW ,
the business at your doorstep is organised by Glambox.
Banaye Aasan Jewellery Vyapar

XAU/USD: Gold price attempts to breakout at 1224.30

Gold prices bounced after dipping below 1217.40 support and the bearish triangle since my last update in yesterday session but managed pierced through two resistance points and reached the highs of 1228.60 before retreating into the triangle and closing at 1224.00. XAU/USD currently trades at 1224.30 and is now looking to break out of the triangle price pattern and possibly retest 1227.15.

Gold ends higher, but logs a fourth straight monthly loss

Gold unwound earlier losses to settle higher Tuesday, even as the U.S. dollar tilted higher a day ahead of Federal Open Market Committee’s decision on monetary policy. December gold GCZ8, -0.34% edged up by $2.10, or 0.2%, to settle at $1,233.60 an ounce. The finish higher marked the first gain for the yellow metal in four sessions, but the December futures contract ended roughly 2.6% lower for the month, for a fourth straight monthly loss. Based on the most-active contracts, futures prices fell by 1.7%, according to FactSet data.

Rare blue diamonds may be Earth's deepest secret

WASHINGTON (Reuters) - The Hope Diamond, a rare blue diamond that is one of the world’s most famous jewels, has had a complicated history, passing through the hands of monarchs and bankers and heiresses and thieves before landing for all to see at a Washington museum. The geological history of blue diamonds is even more complex, according to research published on Wednesday examining these exceptionally scarce and valuable gems.

Why gold is plunging despite market volatility

But in the middle of a trade war, gold has fallen into a correction, down more than 10% from its high for the year. Why has the price fallen lately? Simply put, it's the strong US dollar. Expectations for more interest rate hikes by the Federal Reserve have helped lift the value of the currency. A stronger dollar often is a bad thing for gold because it makes the metal more expensive for international investors. "The yellow metal has clearly struggled to register any meaningful recovery in recent weeks, despite global trade tensions creating uncertainty," said Lukman Otunuga, research analyst at brokerage firm FXTM, in a report to clients.

Gold notches 3rd straight loss ahead of Fed meeting

Gold settled lower on Monday for a third straight session, as the precious metal encountered resistance amid rising U.S. government bond yields ahead of a Federal Reserve gathering, and even as the dollar softened.

Gold—even at its lowest levels in 2018—is behaving just as prescribed

Gold’s sharp decline over the past month serves as little surprise to the investors who want the asset to perform in just this fashion—that is, as an alternative to assets perceived as risky like stocks. They’re betting that the opposite will be true as well, that gold will resume its role as protector and diversifier, even inflation hedge, when what they see as bloated price-to-earnings ratios and hints of higher inflation finally catch up to the stock market.

Gold Prices Fall For Second Straight Day: 5 Things To Know

Gold prices went down by Rs. 100 to Rs. 30,650 per 10 grams amid weakening global trend and muted demand from local jewellers at the bullion market on Tuesday, reported news agency Press Trust of India (PTI). However, silver held steady at Rs. 39,200 per kg on scattered deals from industrial units and coin makers. Marketmen said, apart from a weak trend overseas, fall in demand from local jewellers and retailers at domestic spot market, mainly kept pressure on the gold prices.

Gold Rate Today: Gold, silver trade lower in late morning deals

GOLD SILVER NEW DELHI: Precious metals gold and silver were trading in the negative territory on Tuesday. MCX Gold futures were trading 0.10 per cent, or Rs 30 lower at Rs 29,715 per 10 grams at 10:57 am (IST), while MCX Silver futures were down 0.13 per cent, or Rs 48, at Rs 38,294 per 1 kg at the same time. On the global front, gold continued to remain under pressure following strength in the dollar and ahead of important Federal Reserve policy statement that will be released on Wednesday.

Silver futures weaken by 0.28% on global cues

New Delhi, Aug 1 (PTI) Taking cues from the global market, silver prices moved down by 0.28 per cent to Rs 38,215 per kg in futures trade today as participants reduced their exposure. At Multi Commodity Exchange, silver for delivery in September fell by Rs 106, or 0.28 per cent, to Rs 38,215 per kg in a business turnover of 509 lots. Likewise, the white metal for delivery in December contracts was trading lower by Rs 102, or 0.26 per cent, to Rs 39,062 per kg in six lots.

Gold, silver slip on subdued demand, global cues

Bank FDs vs gold vs stocks: How much you would have earned

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.

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