10th January, 2018

Daily Market Rates

India A.M. (10-01-18)

999 Gold - Rs. 29,605/-
995 Gold - Rs. 29,455/-
916 Gold - Rs. 27,118/-
750 Gold - Rs. 22,204/-
585 Gold - Rs. 17,319/-
999 Silver - Rs. 38,475/-

 

 

 

 



India P.M. (09-01-18)

999 Gold - Rs. 29,680/-
995 Gold - Rs. 29,530/-
916 Gold - Rs. 27,187/-
750 Gold - Rs. 22,260/-
585 Gold - Rs. 17,363/-
999 Silver - Rs. 38,545/-

Wednesday, January 10

China is to release data on producer and consumer price inflation.
The UK is to report on manufacturing production and the trade balance.
Canada is to publish figures on building permits.
The U.S. is to report on import prices.

Daily Gold Market Report

Gold leans on the moving average – Analysis - 10-01-2018
Gold price leaned on the EMA50 that forms good support base against the intraday trades, accompanied by stochastic reach to the oversold areas, forming positive factor that we are waiting to assist to push the price to rise again and test 1321.49 level initially. Therefore, the bullish trend will remain suggested in the upcoming sessions conditioned by holding above 1299.20, reminding you that breaching 1321.49 will open the way to visit the previously recorded top at 1357.53 as a next main station. Expected trading range for today is between 1300.00 support and 1325.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver affected by the negative momentum – Analysis - 10-01-2018
Silver price shows some bearish bias affected by stochastic negativity, which gets rid of its negative momentum clearly to approach the oversold areas, waiting to get enough positive momentum to push the price to continue the overall bullish trend. Until now, the bullish trend scenario will remain valid conditioned by settling above 16.55, supported by the EMA50, noting that the expected targets begin at 17.43 and extend to 18.30 after breaching the previous level. Expected trading range for today is between 16.80 support and 17.20 resistance. Expected trend for today: Bullish

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Silver futures fall to Rs. 38,785 per kg

Taking cues from overseas markets, silver prices eased Rs. 60 to Rs. 38,785 per kg at the futures trade as participants trimmed their bets. Also, profit-booking at existing levels by speculators weighed on silver prices.

Gold, Silver Bulls Bruised By Rebounding Greenback

(Kitco News) - Gold and silver prices were ending the U.S. day session weaker Tuesday. A solid bounce in the U.S. dollar index early this week is putting price pressure on the gold and silver markets. Some normal profit-taking and chart consolidation is also featured after gold prices hit a 3.5-month high last week. February Comex gold was last down $7.30 an ounce at $1,313.10. March Comex silver was last down $0.139 at $17.005 an ounce.

Gold inches down on higher US Treasury yields

Expect Gold to trade sideways: Sushil Finance

BlackRock-Backed Gold Miner Prepares to Join Rush of Russia IPOs

Gold Prices Remain Under Pressure In Asian Trading

(Kitco News) - Gold prices continued to trade under pressure as Asian markets opened on Wednesday following a recovery in the U.S. dollar index. Spot gold on Kitco.com was last seen at $1,310.10, down 0.19% on the day, while the U.S. dollar index was trading at 92.51, up 0.18% on the day. “Gold edging lower in early Asian trading,” said MKS PAMP Group trader Tim Brown. “The precious complex pulls back as the equities rally continues and US treasury yields surge.”

Gold, Silver Bulls Bruised By Rebounding Greenback

(Kitco News) - Gold and silver prices were ending the U.S. day session weaker Tuesday. A solid bounce in the U.S. dollar index early this week is putting price pressure on the gold and silver markets. Some normal profit-taking and chart consolidation is also featured after gold prices hit a 3.5-month high last week. February Comex gold was last down $7.30 an ounce at $1,313.10. March Comex silver was last down $0.139 at $17.005 an ounce.

It's Time For The Fear Trade To Move Gold Prices

The price of gold and gold mining stocks were very competitive in 2017. The yellow metal ended the year up a little more than 13% — its best year since 2010 — while gold stocks, as measured by the NYSE Arca Gold Miners Index, gained more than 11%. All of this occurred even as large-cap stocks regularly closed at all-time highs and cryptocurrencies invited massive speculation.

Gold producers drop as spot price pulls back from 3-month high

Australian gold producers were down on Wednesday as the price of the precious metal pulled back from a three-month high. The ASX All Ordinaries Gold index was down as much as 1.9 per cent in Sydney, a two week low, with major producer Newcrest Mining off 2.2 per cent.

Gold Pricing Softens, But This Rally Still Has More Upside Potential

The fact that gold pricing is trading under pressure is not a big surprise, and actually can be viewed as a well-needed pause in the rally currently underway. After trading to $1238 per ounce in mid-December of last year, gold prices have gained almost $90 before hitting resistance at $1327 late last week.

 

Gold Price Remains Pressured By Stronger Dollar

(Kitco News) - Gold and silver, after a few attempts, were both unable to break up through their respective resistance levels of $1,322 and $17.22. The break-down of the euro/dollar trade through the 1.20 level initiated some profit taking in both metals yesterday. The 30-year U.S. bond broke above the 2% level yesterday, adding further pressure to the metals complex. The metals have remained resilient in the face of a soaring equity market and some calming of tensions with North Korea, and a significant sell-off is unlikely. Gold may trade down to the $1,305 level today and silver may fade as low as $16.87, should the $17 level give way. We continue to see the resistance levels noted above as the hurdle to overcome for continued higher momentum.

Silver To Underperform Gold In 2018 - Capital Economics

(Kitco News) - One key theme among precious metals analysts, as the new year started, was that silver, which had a dismal 2017, would outshine gold; however, one research firm is taking a contrarian view. In a report Tuesday, Simona Gambarini, commodities economist at Capital Economics, said that she is expecting silver prices to underperform gold, a continuation of the trend from last year.

Gold Price Remains Pressured By Stronger Dollar

(Kitco News) - Gold and silver, after a few attempts, were both unable to break up through their respective resistance levels of $1,322 and $17.22. The break-down of the euro/dollar trade through the 1.20 level initiated some profit taking in both metals yesterday. The 30-year U.S. bond broke above the 2% level yesterday, adding further pressure to the metals complex. The metals have remained resilient in the face of a soaring equity market and some calming of tensions with North Korea, and a significant sell-off is unlikely. Gold may trade down to the $1,305 level today and silver may fade as low as $16.87, should the $17 level give way. We continue to see the resistance levels noted above as the hurdle to overcome for continued higher momentum.

Profit-booking, weak global cues pull gold futures down to Rs. 29,130

Gold futures fell 0.09 per cent to Rs. 29,130 per 10 grams as participants trimmed their bets due to weak global cues. Besides, profit-booking by speculators also weighed on prices.

Organised gold loan industry to touch Rs 3,101 bn by FY'20: KPMG

India's organised gold loan industry could touch Rs 3,101 billion by 2019-20 as the companies are offering flexible schemes at lower interest rates with minimal paperwork without the hassles of rigid credit appraisal, said a KPMG report released today. Gold loan companies are expected to continue delinking the gold price volatility risk by offering more variants of lower tenure loan products, it said. The report also suggested a 'centralised gold locker unit' that would eliminate the need for operating branch to have its own vault, conduct appraisal processes and store gold while also doubling as a gold locker facility for customers.


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