12th January, 2018

Friday, January 12

China is to report on the trade balance.
The U.S. is to round up the week with what will be closely watched data on consumer inflation and retail sales.

Daily Gold Market Report

Gold gets a positive close – Analysis - 12-01-2018
Gold price managed to confirm breaching 1321.49 after closing the daily candlestick above it, reinforcing the expectations of achieving more gains on the intraday and short term basis, and the way is open to target 1357.53 level as a next station. Therefore, the bullish trend will remain valid and active in the upcoming sessions supported by the EMA50, noting that breaking 1321.49 level will stop the suggested rise and push the price to test 1299.20 areas initially before any new attempt to rise. Expected trading range for today is between 1320.00 support and 1340.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver within positive pattern – Analysis - 12-01-2018
Silver price's recent trades are confined within bullish flag pattern that appears on the chart, which means that breaching 17.15 will activate the positive effect of this pattern and push the price to continue the main bullish trend. Therefore, we believe that the chances are valid to achieve more rise in the upcoming sessions, waiting to breach 17.43 to confirm heading towards 18.30 on the near term basis, reminding you that it is important to hold above 16.55 to achieve our suggested targets. Expected trading range for today is between 16.95 support and 17.30 resistance. Expected trend for today: Bullish

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Gold slips; silver too turns weak

Halting its four-day winning run, gold today fell by Rs 65 per 10 gram at the bullion market here today due to weak retail demand, even as the metal strengthened overseas.

Silver futures climb to Rs. 39,610 per kg

Silver prices rose Rs. 249 to Rs. 39,610 per kg at the futures trade as traders increased their bets owing to a firm global trend. At the Multi Commodity Exchange, silver for delivery in May moved higher by Rs. 249 or 0.63 per cent to Rs. 39,610 per kg in a business turnover of 16 lots. Similarly, the metal for delivery in March traded higher by Rs. 189 or 0.49 per cent at Rs. 39,128 per kg in 592 lots.

How Has 2018 Started Out for Gold and Silver?

Gold May Jump Over 20% As Investors Eye Inflation

Gold futures rise to Rs. 29,465

Gold set for fifth week of gains, buoyed by slump in dollar

(Reuters) - Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the U.S. dollar helping drive bullion towards its fifth-straight weekly gain. Spot gold had edged up 0.5 percent to $1,328.84 an ounce by 0703 GMT, after earlier touching its highest since Sept. 15 at $1,330.34.

Gold prices rise as rally in equities loses steam

Gold prices edged up on Thursday, after touching their highest since September in the previous session, buoyed as a rally in equities appeared to falter. Spot gold was up 0.1 per cent at $1,317.93 an ounce by 0655 GMT. On Wednesday, it marked its lowest since September 15 at $1,326.56 an ounce. US gold futures were down 0.1 per cent at $1,319.10 an ounce.

Gold passes $1,327 for first time in 4 months as US dollar edges lower

The price of gold rose to its highest in four months in Asia trading on Friday as the US dollar continued to weaken. Gold was 0.3 per cent higher at midday in Hong Kong, at $1327 an ounce, and ahead of the four-month intraday peak of $1,326 it hit on Wednesday.

Gold prices regain on jewellers’ buying, global cues

New Delhi: Gold prices rose by Rs145 to Rs30,620 per 10 grams on Thursday, driven largely by a firm trend overseas as well as pick-up in buying by jewellers in the domestic spot market. Silver prices also recovered by Rs180 to Rs 39,680 per kg on increased offtake by industrial units and coin makers.

Gold set to rise for fifth week as slumping dollar draws investors

(Reuters) - Gold prices rose for a third straight session on Friday to their highest since September as the slumping dollar drew investors to buy the yellow metal. Bullion is on track for its fifth weekly gain. Spot gold edged up 0.3 percent to $1,326.68 an ounce by 0318 GMT. Prices rose their highest since Sept. 15, 2017, at $1,327. Gold is up 0.5 percent for the week so far and the streak of weekly gains is the most since the week ending April 14.

Weak Dollar Drives Gold Prices Higher

Gold is trading moderately higher today, with the most active futures contract currently trading up $3.70 (+0.28%) at $1323 per ounce. Today’s gains have taken gold to its highest value so far in 2018. On Friday of last week, gold prices reached the former 2018 apex when it closed at $1322 per ounce. Although gold prices surged to an intraday high of $1327 on Thursday of last week, on a closing basis today’s gains are not only a new record high close for the year but also a four-month high for the precious yellow metal.

Gold - Higher oil prices a boon or curse?

Brent oil hit $70 a barrel for the first time since December 2014. Will it have a positive impact on gold? As per textbook rules, oil price rally boosts inflation expectations, thus leading to higher demand for gold (inflation hedge). However, a sharp rise in oil could also force the central banks to quicken the pace of policy tightening. Central banks with NIRP (negative interest policy) like the ECB and BOJ risk falling behind the curve and hence may tighten the screws sooner than later.

PRECIOUS-Gold nears 4-month highs after hawkish ECB boosts euro

NEW YORK/LONDON, Jan 11 (Reuters) - Gold prices on Thursday approached a four-month high set on the previous day after minutes of a European Central Bank meeting showed a more aggressive tone and boosted the euro against the U.S. dollar. The December meeting minutes said the central bank should revisit its policy message in early 2018 and gradually adjust its language to reflect improved growth prospects.

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