11th October, 2017

Daily Market Rates

India A.M. (11-10-17)

999 Gold - Rs. 29,890/-
995 Gold - Rs. 29,740/-
916 Gold - Rs. 27,379/-
750 Gold - Rs. 22,418/-
585 Gold - Rs. 17,486/-
999 Silver - Rs. 39,885/-





India P.M. (10-10-17)

999 Gold - Rs. 29,910/-
995 Gold - Rs. 29,760/-
916 Gold - Rs. 27,398/-
750 Gold - Rs. 22,433/-
585 Gold - Rs. 17,497/-
999 Silver - Rs. 39,805/-

Wednesday, October 11

Dallas Fed President Robert Kaplan is to speak.
Later in the day, the Fed is to publish the minutes of its latest policy meeting.

Daily Gold Market Report

Gold gathers the positive momentum – Analysis - 11-10-2017
Gold price shows sideways and tight trading since yesterday's evening after losing the positive momentum on the intraday time frames, noticing that stochastic approaches from the oversold areas to form positive motive that we are waiting to assist to push the price to rise again. In general, we will continue to suggest the bullish trend in the upcoming sessions as long as 1281.17 level remains intact, as breaking this level will push the price to test 1263.15 areas again, while the expected bullish wave targets begin at 1299.20 and extend to 1321.49. Expected trading range for today is between 1275.00 support and 1299.20 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver negotiates the resistance – Analysis - 11-10-2017
Silver price continues to fluctuate around the key resistance 17.10, noting that the price move above the EMA50 forms positive factor that we are waiting to push the price to achieve more gains in the upcoming period. Overall, our expected bullish trend scenario still valid as long as the price holds above 16.56, noting that our main targets begin by breaching 17.43 to confirm extending the bullish wave towards 18.30 as a next main station. Expected trading range for today is between 17.00 support and 17.30 resistance. Expected trend for today: Bullish

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Gold And Silver Reverse

Last week, gold and silver prices continued to move toward new short-term lows as the dollar recovery took the greenback to a level that challenged the downward trajectory that had been in place since January 2017. At the beginning of this year, the dollar index rose to the highest level since 2002 when the index hit 103.815 at the very start of the year. The selloff that initially looked like a normal downward correction in the currency market kept on going throughout the year. On October 6, the dollar index did something it could not do since late last year; it made a higher high.

Weak US Dollar Boosts Gold, Silver Prices

(Kitco News) - Gold and silver prices ended the U.S. day session higher and hit two-week highs Tuesday. Gold bulls are once again knocking on the door of the key $1,300 level. Heightened geopolitical tensions this week have prompted more safe-haven demand for gold, and to a lesser degree silver. A depreciating U.S. dollar against the other major currencies early this week is also a bullish element for the precious metals markets. Short-covering in the futures markets by weak-handed bears is further lifting gold and silver prices. December Comex gold was last up $7.70 an ounce at $1,292.70. December Comex silver was last up $0.214 at $17.185 an ounce.

Silver futures fall to Rs. 40,783 per kg

NEW DELHI, OCT 11: Silver prices drifted lower by Rs. 147 to Rs. 40,783 per kg at the futures trade today as participants trimmed their positions, tracking a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in far-month March next year fell Rs. 147 or 0.36 per cent to Rs. 40,783 per kg in a business turnover of 19 lots. Similarly, the white metal for delivery in December was trading lower by Rs. 107 or 0.27 per cent to Rs. 40,220 per kg in 590 lots.

Gold gains as dollar wavers on US tax overhaul worries

October 11, 2017: Gold rose for a fourth day on Wednesday, after hitting a near two-week high in the previous session, supported by weakness in the US dollar. Spot gold was up 0.2 per cent at $1,290.56 an ounce by 0053 GMT. It had touched its highest level since September 27 in the previous session. US gold futures for December delivery were nearly unchanged at $1,293 per ounce.

Switzerland Waste Water Worth $3.4 Million In Gold, Silver

According to scientists at the Swiss Federal Institute of Aquatic Science and Technology (Eawag) about 43 kilograms of gold and three tonnes of silver pass through the nation’s wastewater treatment plant every year. With gold prices hovering just below $1,300 and silver above $17 an ounce, that waste is worth around $3.4 million annually – in other words that is expensive poop.

Gold Rate today: Track gold price in India

Gold rose for a fourth day on Wednesday, after hitting a near two-week high in the previous session, supported by weakness in the US dollar.Gold prices softened by 0.18 per cent to Rs 29,771 per 10 gram in futures trading as traders trimmed their bets amid weak global cues.

Indian airport stops 29 passengers using ‘rectal concealment’ to smuggle gold

Indian customs authorities have discovered 29 people hiding gold in their rectums on two flights that landed at a southern airport on Sunday. More than 10kg (22lb) of the precious metal were found on at least 37 passengers on the two flights from the Sri Lankan capital, Colombo, that landed at Madurai international airport in Tamil Nadu.

Sovereign gold bond a better bet than physical gold this Diwali. Find out why

Finally, a sense of timing has been shown by the government in launching the third tranche of the sovereign gold bond scheme this year. Ahead of important festivals which entails buying gold as a cultural obligation, the government has announced the launch of the new scheme.

MCX to launch gold options on Oct 17

MUMBAI, OCTOBER 10: MCX, the country’s largest commodity exchange, plans to launch options trading in gold on Dhanteras, next Tuesday. To start with, the options trading will be available on a 1 kg gold futures contract, the exchange said in a statement. In August, commodity and capital market regulator Securities and Exchange Board of India (SEBI) allowed MCX to launch options trading in gold while the competing agriculture commodity-focused NCDEX was given permission to launch options trading in guarseed.

Gold prices extends gains on global cues

Mumbai: Rising for the second day, gold prices climbed Rs100 per 10 grams at the bullion market in Mumbai Tuesday riding on firming global trend and increased buying by local jewellers and retailers. Silver also strengthened by Rs285 per kg backed by increased offtake by industrial units. Bullion traders attributed the rise to a firming trend overseas where gold rose to the highest in more than a week as an uptick in geopolitical uncertainty raised demand for the precious metal as safe haven.

Japan Gold expands portfolio

Gold prices to trade sideways Angel Commodities

Is Gold Really a Good Hedge?

Gold bugs point to a myriad of reasons to own their favorite metal, from fiat currency debasement to gold’s history as a monetary unit. Among the favorites, however, is gold’s utility as protection against a market or political crisis. In August, for example, Bridgewater Associates LP’s Ray Dalio suggested investors should hold 5 percent to 10 percent of their portfolios in gold to hedge against rising political risks. I’m a macro strategist who writes Bloomberg’s Macro Man column, and I found myself wondering: Is gold really an effective hedge in periods of risk?

Comparing the Movements of Gold and Silver by Spread Analysis

When we compare the volatilities of gold and silver, we have to remember that silver is a precious metal as well as an industrial asset. One analysis that we use is a comparison of implied volatilities. Call implied volatility is a measurement of the fluctuations in the price of an asset, given the changes in its call price.

Expect problems in terms of gold loan companies to be under control: South Indian Bank

In an interview to CNBC-TV18, VG Mathew, MD & CEO, South Indian Bank spoke about the results and his outlook for the company and the fineprint of their Q2 earnings.

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