11th August, 2017

Friday, August 11

Financial markets in Japan are to remain closed for a holiday.
Dallas Fed President Rob Kaplan and Minneapolis Fed chief Neel Kashkari are to speak and the U.S. is to round up the week with what will be closely watched data on consumer price inflation.

Daily Gold Market Report

Gold approaches from the target – Analysis - 11-08-2017
Gold price achieved strong gains yesterday to approach from the previously recorded top at 1295.37, as the positive effect of the previously completed inverted head and shoulders' pattern continues, which its full target located at 1312.00. Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that breaking 1254.56 will stop the expected rise to push the price to test the key support areas around 1229.32 before any new attempt to rise. Expected trading range for today is between 1275.00 support and 1300.00 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, silver up on safe-haven demand

Rising geopolitical tensions between US and North Korea continued to keep gold and silver in green on account of increasing safe-haven demand. MCX Gold was trading 0.28 per cent up at Rs 29,257 per 10 gram around 11 am (IST), while MCX silver was up 0.20 per cent, or Rs 78, at Rs 39,291 per 1 kg.

Plain gold jewellery to Gulf takes a hit

Wholesalers in the Gulf region have started employing jewellery artisans from India to avoid duty. Export of plain gold jewellery to the Gulf region may take a hit with jewellers in the UAE setting up manufacturing units to avoid paying 5 per cent duty on imported gold jewellery.

Weak dollar acts as a boon for gold price rally

'Gold is about break out on the upside strongly,' Dennis Gartman says

Ray Dalio, manager of the world's largest hedge fund, says buy gold on rising North Korea risk

"We can also say that if the above things go badly, it would seem that gold (more than other safe haven assets like the dollar, yen, and treasuries) would benefit," he wrote. Dalio cited the rising geopolitical tensions between the U.S. and North Korea in recent days. "Two confrontational, nationalistic, and militaristic leaders playing chicken with each other, while the world is watching to see which one will be caught bluffing, or if there will be a hellacious war," Dalio wrote.

GUNDLACH: Gold's chart has 'one of the most bullish' patterns around

Gold has been gaining steam over the last couple of days following news that North Korea could make nuclear warheads small enough to fit on missiles and the intense rhetoric that followed between President Donald Trump and North Korea's army. The precious metal has rallied almost 3% since the news broke on Tuesday morning and is now trading at its best level in more than two months.

Indian gold price discounts narrow, Chinese premiums steady

MUMBAI/BENGALURU (Reuters) - Gold demand in India remained sluggish this week as local prices jumped to their highest level in nearly three months and a rally in global prices of the precious metal dampened fresh buying elsewhere in Asia. "Demand is still weak. From the next week demand could improve due to festivals," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in Kolkata. Local gold prices jumped to 28,996 rupees per 10 grams on Thursday, the highest level since June 14.

90% of South Korea gold imports by two business groups

Only two entities have together imported close to 10,000 kg of gold from India's free trade partner of South Korea since July, after implementation of the goods and services tax (GST). These imports in the form of coins and medallions have surprised the government, which is now examining ways to impose interim restrictions.

Gold, silver up on safe-haven demand

Rising geopolitical tensions between US and North Korea continued to keep gold and silver in green on account of increasing safe-haven demand. MCX Gold was trading 0.28 per cent up at Rs 29,257 per 10 gram around 11 am (IST), while MCX silver was up 0.20 per cent, or Rs 78, at Rs 39,291 per 1 kg.

Gold/Silver Index: Ready for a rush

Philadelphia SE Gold/Silver Index still trapped in an especially tight range on the charts, and once it resolves, momentum can kick-in, lead to sharp move/next trend ** XAU up just 5 pct YTD, underperforming S&P 500's 10.5 pct rise ** This, despite 8.5 pct YTD drop in U.S. Dollar Index , 11.4 pct rise in spot gold, and 7.6 pct gain in spot silver. U.S. 10-Year T-Note Yield down 20 bps ** And despite spot gold hitting 9-week highs amid mounting North Korean tensions , prec metals shares yet to garner commensurate boost

The Shine of Silver Or the Glitter of Gold – Brightest of the two in Years Ahead

Gold is the preeminent monetary metal, and throughout history to this day, it has projected the most enduring images of wealth. Consider how often gold bars are used to depict glamour and riches. Silver is in its shadows, but as an asset, it contains similar wealth-protecting qualities, perhaps with even greater return potential.

Pan American Silver easily beats second quarter expectations

Investing.com - Pan American Silver Corp (NASDAQ:PAAS) shares rallied to near year highs on Thursday after the company released second quarter results which easily topped expectations even though the company’s gold production fell and its silver production was flat, year-over-year. During Wednesday’s after hours session, the company reported that it earned $0.15 per share in the quarter on revenue of $201.3 million. Analysts had forecast earnings of $0.10 per share on revenue of $188.47 million.

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