10th November, 2017

Friday, November 10

The RBA is to publish its monetary policy statement.
The UK is to report on manufacturing output and the trade balance.
The U.S. is to round up the week with preliminary data on consumer sentiment.

Daily Gold Market Report

Gold keeps its positive stability – Analysis - 10-11-2017
Gold price keeps its stability above 1281.17 level, to keep the positive effect of the double bottom pattern active, noting that the full target of this pattern is located at 1299.20, while breaching this level represents the key to rally towards 1321.49 direct. Therefore, we will keep our bullish overview in the upcoming sessions supported by the EMA50, taking into consideration that breaking 1281.17 will stop the suggested rise and push the price to decline again. Expected trading range for today is between 1275.00 support and 1300.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver around the moving average – Analysis - 10-11-2017
Silver price continues to provide weak trading and settles around the EMA50, thus, the bullish trend scenario will remain valid as it is without any chane for the upcoming period, depending on stability above 16.56 level, reminding you that our positive targets begin at 17.43 and extend to 18.30 after breaching the previous level. Expected trading range for today is between 16.90 support and 17.43 resistance. Expected trend for today: Overall Bullish

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

For Admissions, contact: Kejal 022 49717444

Proposal for Photocard for Hallmarked Jewellery

Jewelers Are Still Struggling a Year After India’s Cash Ban

For jewelers in the world’s second-largest gold market, business is yet to recover from the slump that followed India’s decision to ban high-value currency notes a year ago. Ask Bachhraj Bamalwa, who has spent four decades in the industry. As Prime Minister Narendra Modi prepared to address the nation last November to announce demonetization, Bamalwa was busy wrapping up a quiet and uneventful day. Recovering from heart surgery, the 57-year-old father of two was home by the time the premier finished his speech.

Silver futures rise to Rs. 40,362 per kg

NEW DELHI, NOV 10: Tracking a firm trend overseas, silver prices gained Rs. 35 to Rs. 40,362 per kg at the futures trade today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in March gained Rs. 35 or 0.09 per cent to Rs. 40,362 per kg in a business turnover of six lots. The white metal for delivery in December too was trading higher by Rs. 13 or 0.03 per cent at Rs. 40,362 per kg in 132 lots.

Silver prices edge up on better global cues, gold rates steady

New Delhi: Silver prices rose by Rs125 to Rs40,700 per kg at the bullion market on Thursday, backed by a firm trend overseas and increased offtake by industrial units. Gold, however, held steady at Rs30,450 per 10 grams in scattered deals.

Rs 87crore cash, 2000 kg gold, silver detected at airports post demonetisation

New Delhi: The Central Industrial Security Force(CISF) has detected 1491.50 kg of gold, 572.63 kg of silver, and currency notes worth Rs 87.17 crore at various airports in a year since demonetisation. The maximum amount of gold, silver and cash were recovered from Delhi, Jaipur and Mumbai airports respectively. Moreover, 498.35 kg of gold was recovered from Delhi’s Indira Gandhi International airport alone.

Gold Rate Today: Gold down in morning trade, silver up

Gold was trading in red in morning trade on Friday on account of subdued demand of precious metal from jewellers, investors and retailers. MCX Gold futures were trading 0.29 per cent, or Rs 85, down at Rs 29,576 per 10 gram around 11 am (IST), while MCX Silver was up 0.03 per cent, or Rs 13, at Rs 39,654 per 1 kg at around the same time.

Gold holds near three-week high, set for weekly rise

BENGALURU, NOV 10: Gold inched up early Friday, holding near a three-week high amid uncertainty over US tax reforms, and was on track for its first weekly rise in a month. Spot gold was up 0.1 per cent at $1,286.30 per ounce at 0101 GMT. On Thursday, it had touched its highest since October 20 at $1,288.34 an ounce. The safe haven asset was up about 1.3 per cent for the week so far. US gold futures for December delivery were flat at $1,287.20. Palladium gained 0.2 per cent to $1,011.97 an ounce. It touched its highest since 2001 at $1,026.10 on Thursday.

1,492 kg gold, 59 airports: Demonetisation kept CISF on toes

NEW DELHI: The highest instances of people trying to fly with gold in handbags was detected in Delhi in a year of demonetisation when the finance ministry had asked security agencies to keep a special watch on passengers with large quantities of precious metal or cash in their hand bags. In all, the Central Industrial Security Force (CISF) says it detected 1491.5 kg gold; 572.6 kg silver and Rs 87.2 crore in cash at various airports from November 8, 2016, (when demonetisation happened) to November 7, 2017. Delhi airport topped the list with 498.4 kg gold being detected, followed by 343 kg at Mumbai, 203.5 kg at Jaipur and 142 kg in Ahmedabad.

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.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.

Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459

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