10th August, 2017

Thursday, August 10

The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.
The UK is to report on manufacturing production and trade.
Canada is to publish data on new house price inflation.
The U.S. is to release reports on initial jobless claims and producer prices.
New York Fed President William Dudley is speak about wage inequality in his region.

Daily Gold Market Report

Gold resumes rising – Analysis - 10-08-2017Gold price traded with strong positivity approaching from 1280.00 barrier, hinting that the positive effect of the previously completed inverted head and shoulders' pattern still active, and the way is open to head towards our main targets located at 1295.37 and reach to 1312.00. Therefore, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 1254.56 level and holding below it, noting that stochastic current negativity might force the price to provide some temporary positive trading before resuming the expected rise. Expected trading range for today is between 1265.00 support and 1290.00 resistance. Expected trend for today: Bullish

14th India International Gold Convention

IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).

For Admissions, contact: Kejal 022 49717444

Gold hits over two-month high on N.Korea tensions

BENGALURU: Gold lingered near a two-month high hit earlier on Thursday, as rising tensions on the Korean peninsula continued to support safe-haven demand. North Korea dismissed on Thursday warnings by US President Donald Trump that it would face "fire and fury" if it threatened the United States as a "load of nonsense", and outlined detailed plans for a missile strike near the Pacific territory of Guam.

Gold, silver up on safe-haven demand

Safe-haven demand triggered by rising tension on the Korean peninsula kept gold prices on a high on Thursday. MCX Gold was trading 0.25 per cent up at Rs 28,915 per 10 gram around 10.45 am (IST). White metal silver was also trading in green at around the same time. MCX Silver was up 0.26 per cent, or Rs 102, at Rs 38,692 per 1 kg.

Gold imports more than doubled in July ahead of GST implementation

Glint is a stealthy London fintech startup that promises to turn gold into a ‘new global currency’

Gold, gold and gold at Diggers

Jim Askew was this year’s winner of the prestigious GJ Stokes Memorial Award. Askew started his career in Broken Hill as a mining engineer before setting up his own consultancy in the 1980s, which continues to be a global leader today under the name AMC, and founded Golden Shamrock Mines, which was acquired by Ashanti Gold in 1996. “Since then, he has been CEO of multiple resource companies globally, focused on delivering management change and success rewarded through disciplined growth and sometimes, corporate takeovers, delivering premium shareholder returns,” Diggers owner Kate Stokes said.

MCX gets Sebi'approval to launch option's contract in gold

MUMBAI: Commodity derivatives bourse MCX has got Sebi's approval to launch an option's contract in gold, an exchange official told ET. He said MCX would announce the date of launch to markets after a fortnight, during which mock trading sessions are under way. The option will have the existing gold kilo futures contract as its underlier.

Bitcoin is almost triple the price of gold – here’s what traders think you should buy

Two traders are unfazed by bitcoin's meteoric surge and say that between the cryptocurrency and gold, you're better off trading the yellow metal. Bitcoin has jumped 240 percent this year to a high of $3,288 on Wednesday, while gold was trading at $1,280. But despite the bitcoin gains, Brian Stutland of Equity Armor Investments and Path Trading Partners' Bob Iaccino believe gold is still a better bet than bitcoin from technical and fundamental perspectives.

Gold surges to Rs. 29,550; silver reclaims Rs. 39,000-mark

NEW DELHI, AUG 9: Gold prices surged Rs. 200 to Rs. 29,550 per 10 grams at the bullion market today, taking positive leads from global markets amid increased buying by local jewellers. Silver also reclaimed the Rs. 39,000-mark by surging Rs. 1,130 to Rs. 39,500 per kg on increased offtake by industrial units and coin makers.

Gold futures jump to Rs. 28,959 on firm global cues

NEW DELHI, AUG 10: Gold prices were trading up by Rs. 115 at Rs. 28,959 per 10 grams at the futures trade as speculators indulged in raising bets amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs. 115 or 0.40 per cent at Rs. 28,959 per 10 grams in a business turnover of 11 lots.

Gold Climbs to Near Two-Month High

Gold prices rallied to nearly $1280 an ounce on Wednesday as rising tensions between the U.S. and North Korea stoked demand for the safe-haven metal. Although the situation had not reached a crisis level yet, North Korea’s threat of retaliation pushed some investors away from stocks and other risky assets. A breach of some key technical levels also pushed gold higher. XAU/USD rocketed up after the resistance in the 1266.50-1264 area was broken. Once again, prices are above the clouds on almost all time frames, plus the Tenkan-Sen (nine-period moving average, red line) and the Kijun-Sen (twenty six-day moving average, green line) are positively aligned. The next key level to the upside is located in the 1280/2 zone. If the bulls continue to dominate the market and push prices above 1282, look for further upside with 1288 and 1296/5 as targets.

All that glitters is silver

Chunky silver jewellery has become an essential in every fashionista’s wardrobe: humongous ‘lotus’ jhumkas, chandbalis and chandelier earrings favoured by the likes of Deepika Padukone and Vidya Balan, disc-like nose pins like what Parvathy wore so effortlessly in Charlie, necklaces that Nayanthara made a statement with in Puthiya Niyamam... Sreelakshmi L., a young, city-based engineer, along with her sister, techie Sreedevi L., has curated several such funky, hand-crafted silver accessories, under her label Saatrangi Silver Studio. Over the past couple of years, the online silver jewellery store has become a firm favourite with fashion trendsetters in the city and beyond.

Silver futures rise to Rs. 38,697 per kg

NEW DELHI, AUG 10: Silver prices jumped Rs. 107 to Rs. 38,697 per kg at the futures trade as speculators widened positions, tracking a firm trend in precious metals overseas. At the Multi Commodity Exchange, silver for delivery in September surged Rs. 107 or 0.28 per cent to Rs. 38,697 per kg in a business turnover of 675 lots. The white metal for delivery in December was trading higher by Rs. 100 or 0.26 per cent to Rs. 39,220 per kg in 20 lots.

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.
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