11th January, 2018

Thursday, January 11

Australia is to produce data on retail sales.
The European Central Bank is to publish the minutes of its December policy meeting.
Canada is to release data on new house price inflation.
The U.S. is to publish data on producer price inflation and initial jobless claims.
Outgoing New York Fed President Bill Dudley is to deliver remarks at an event in New York.

Daily Gold Market Report

Gold attempts to breach – Analysis - 11-01-2018
Gold price continues to fluctuate around 1321.49 level in attempt to breach it, getting continuous positive support by the EMA50, to keep the chances valid to continue rising in the upcoming period, reminding you that breaching the mentioned level is required to open the way to head towards our next target at 1357.53. Holding above 1299.20 represents key condition to continue the suggested rise, as breaking it will push the price to test 1281.17 areas initially before any new positive attempt. Expected trading range for today is between 1310.00 support and 1330.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver gets the positive momentum – Analysis - 11-01-2018
Silver price continues to fluctuate within sideways and tight track, noticing that stochastic managed to get rid of its negativity and gain the positive momentum on the daily time frame, as it reaches the oversold areas now, waiting to motivate the price to resume the bullish trend in the upcoming period. Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by holding above 16.55, reminding you that our main targets begin at 17.43 and extend to 18.30. Expected trading range for today is between 16.85 support and 17.20 resistance. Expected trend for today: Bullish

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Gold inches up on weaker dollar, equities

US gold futures were little changed at $1,319 an ounce. Gold prices edged up early on Thursday after hitting a near four-month high in the previous session, on a weaker dollar and as a rally in equities ran out of steam. Fundamentals Spot gold was up 0.1 per cent at $1,318.49 an ounce by 0048 GMT. Prices hit a near four-month high at $1,326.56 an ounce on Wednesday.

Dell is making jewelry with reclaimed gold from recycled computer guts

A new jewelry line launched this week in literally the last place on Earth any reasonable human being would look for fashion advice — but the style gurus at Dell Computers are going for it anyway, announcing a limited-edition jewelry collection made from gold mined from recycled motherboards. Dell has partnered with Twilight actress Nikki Reed on the line, offering up 14- and 18-carat gold rings, earrings and cuff links. It’s mostly a bit of a ploy to bring attention to the company’s recycling efforts, let’s be honest, but at least it’s a pretty fun one.

Is Gold Forming A Base At $1300?

Gold Rate Today: Gold, silver trade flat in morning deals

Gold climbs to highest level in more than 4 months on weak dollar, China report

Gold and Copper May Have More Room to Run in 2018, Bank of China Says

The stage may be set for commodities to extend their stellar gains, according to Bank of China International analysts. By the fourth quarter copper will average $7,500 a ton and gold $1,400 per ounce, they wrote in a note this week, as financial drivers potentially outweigh fundamentals in 2018. In other words, the stars may continue to align for raw materials.

Gold Market: Correlation Breakdowns Doesn’t Bode Well For Prices - ANG Traders

(Kitco News) - Correlations breakdowns between gold and critical financial markets could be a troubling signal for the yellow metal, which has seen a strong start to the new year, according to one trading firm. In a research note published on Seeking Alpha Tuesday, analysts at ANG Traders said that they had noticed a breakdown in gold’s correlation to inflation expectations, and its negative relationship to treasury yields. At the same time, the yellow metal has managed to maintain its negative correlation against the U.S. dollar index.

‘Unfair’ To Compare Gold To Bitcoin As Crypto Space Lacks ‘Depth’ — ABC Bullion

(Kitco News) - Gold and silver investments should not be missed out on amid the recent crypto craze, said ABC Bullion’s global general manager, pointing out that risks associated with digital currencies are often overlooked. Crypto’s “huge returns of late” might not be able to protect traders against much bigger problems that exist within the cryptocurrencies space, Nicholas Frappell told Australian Mining in an interview on Wednesday.

Bitcoin Is the New Gold, Says Goldman

Bitcoin has not recovered, fully. The price of the crypto asset has fallen more than 12% in the last month to around $14,600, according to the most recent quote on Coinbase. Shares of the Bitcoin Investment Trust (GBTC) has risen more than 30% over the last month, but its net asset value has actually fallen about 7%, according to Morningstar.

Gold rises on dollar weakness, pause in stocks rally

Gold prices rose for a second day on Thursday, extending the gains in the previous session when prices climbed to the highest since September, as dollar weakness and a flagging rally in equities enticed investors to buy the yellow metal. Spot gold was up 0.2 percent at $1,318.98 an ounce by 0242 GMT. Prices rose to as high as $1,326.56 an ounce on Wednesday, the most since Sept. 15.

Gold: Down Into The End Of January

There are contradictory cycle indications in January. The weekly and the monthly dynamic cycles point down, but the month of January has been up 53% of the time and the average gain has been 1.83%. This average percentage gain is the second highest only to September. The seasonality is likely to reduce the magnitude of the decline. Sentiment on the metal price has only recently begun to rise from readings of excessive pessimism so there is not that much optimism. On balance, gold is likely to decline back to the lower end of its trading range. The lower end is the former resistance at 1285-1290. Gold is likely to move higher in February.

Hecla: Second-Highest Annual Silver Output Ever Despite Strike

(Kitco News) - Hecla Mining Co. (NYSE: HL) reported Wednesday that output fell in the fourth quarter and 2017, yet full-year silver output was the second-highest in the country’s 126-year history. In particular, output was down sharply at the company’s Lucky Friday Mine in Idaho due to a strike. Limited production is being carried out by salaried staff.

Gold loan market to grow to Rs 3.1 lakh crore by 2020: KPMG

A recent KPMG report predicts that value of organised gold loan market in India will grow to Rs 3,10,100 crore by 2020 at a three-year compounded annual growth rate (CAGR) of 13.7 per cent. In 2015-16, the gold loan market in the country had recorded a 10.82 per cent growth with a value of Rs 1,96,600 crore. The report predicts organized gold loan market in the country to grow to Rs 2,39,100 crore in 2017-18 with a growth of 11.8 per cent and to Rs 2,74,000 crore in the next financial year with a growth of 14.6 per cent.

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