12th March, 2018

Monday, March 12

Japan is to publish preliminary data on machine tool orders.

India International Bullion Summit 2018 (IIBS 5) to be held on 15th March, 2018 at Hotel Sahara Star, Mumbai. Registration Form is now live! Click on the link  and get yourself  registered today.

Daily Gold Market Report

Gold tests the moving average – Analysis - 12-03-2018
Gold price fluctuates around the EMA50 that forms good resistance at 1325.00, and the price needs to breach this level to confirm the continuation of the bullish trend on the intraday basis, as the bullish trend still expected for the upcoming period as long as 1316.48 level remains intact. Therefore, we are waiting for positive trades in the upcoming sessions, and the price might be forced to show more sideways fluctuation until it gets enough positive momentum to push trades towards our first target at 1335.40, noting that breaching this level will extend Gold price gains to reach 1346.00 followed by 1365.97 as next main stations, while breaking 1316.48 will push the price to test 1301.20 direct before any new attempt to rise. Expected trading range for today is between 1310.00 support and 1335.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver at the initial resistance – Analysis - 12-03-2018
Silver price touched our first waited target at 16.65 and settles there, waiting to surpass this level to reinforce the expectations of continuing the bullish trend, as our next target is located at 17.43, noting that the price keeps its stability above the bullish trend line that appears on the chart, to keep the bullish trend scenario active until now. We should note that the continuation of the expected rise depends on the stability above 16.40. Expected trading range for today is between 16.40 support and 16.80 resistance. Expected trend for today: Bullish

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Proposal for Photocard for Hallmarked Jewellery

Gold / Silver / Copper Prices - Weekly Outlook: March 12 - 16

Investing.com - Gold prices rebounded from the lows of the day on Friday to close slightly higher after the U.S. dollar edged lower as February’s U.S. jobs report dampened expectations for a faster rate of rate hikes this year. Gold futures for April delivery settled up 0.17% at $1,324.00 on the Comex division of the New York Mercantile Exchange. For the week, prices were almost unchanged. Friday’s employment report showed that the U.S. economy added 313,000 jobs last month, but average hourly earnings rose by just 0.1% in February for an annual rate of 2.6%, down from 2.8% in January.

Gold Rate Today: Gold, silver lacklustre in morning trade

Gold was trading almost flat in the morning trade on Monday on account of subdued demand of precious metals from jewellers, retailers and investors. On the other hand, white metal silver was trading in the red. MCX Gold futures were up 0.02 per cent, or Rs 6, at Rs 30,407 per 10 grams at around 11.25 am (IST), while MCX Silver futures were down 0.12 per cent, or Rs 47, at Rs 38,900 per 1 kg.

Silver futures shed 0.12% as traders cut exposure

Taking weak cues from overseas markets, silver prices drifted lower by 0.12 per kg in futures trade today as participants reduced exposure. At the Multi Commodity Exchange, silver for delivery in May declined by Rs 48, or 0.12 per cent, to Rs 38,899 per kg in business turnover of 610 lots. Similarly, the white metal for delivery in July was trading lower by Rs 49, or 0.12 per cent, to Rs 39,379 per kg in 19 lots. Analysts said the weakness in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets.

Gold prices flat as rate hike worries ease

Gold prices were steady on Monday as the US dollar inched lower, with the latest US jobs report easing fears of inflation and faster US rate hikes. Spot gold was flat at $1,323.07 per ounce at 0315 GMT. US gold futures for April delivery were little changed at $1,323.70 per ounce.

Gold Reacts to Three Distinct Events

That same catchphrase could be used for the estimates economists gave this week for the Labor Department’s Jobs report. The median estimate created through a survey of economists came in at 205,000. The actual numbers reported by the Labor Department today show that the U.S. economy’s growth was so robust last month that it added 313,000 new jobs. This marks the most massive hiring spree since the middle of 2016. It demonstrates that the economy has been robust and, more importantly, growing.

Investors withdraw Rs 773 crore from gold ETFs so far in FY18

NEW DELHI: Investors pulled out Rs 94 crore from gold exchange-traded funds (ETFs) in February, taking the total outflows to Rs 773 crore in the first 11 months of 2017-18 mainly due to poor returns and volatility in prices. However, experts believe next financial year can be slightly better for gold ETFs as ongoing uncertainty in the global market might increase the demand for the precious metal. According to the Association of Mutual Funds in India (Amfi) data, a net sum of Rs 94 crore was pulled out from 14 gold-linked ETFs in February, as compared to an outflow of Rs 46 crore in the same month in 2016-17.

By Blaming UPA’s 80:20 Gold Import Scheme, BJP is Trying to Deflect Attention from PNB Fraud

New Delhi: Fearing political backlash over the mega fraud perpetrated by Nirav Modi and Mehul Choksi in the Punjab National Bank (PNB), the ruling Bharatiya Janata Party(BJP) is trying to divert public attention by blaming it on the Congress-led UPA government’s 80:20 gold import scheme.

Gold Prices Weekly Forecast: Gradual Retreat as Defensive Buyers Step Away

An easing of immediate trade fears, a steadier dollar tone and optimism surrounding global growth are likely to curb support for defensive assets in general and weaken gold, especially if bond yields move higher. Gold ended little changed for the week as a whole, with resistance close to $1,340 per ounce, while there was support above $1,310 and a close near $1,320 as the dollar trade-weighted index closed little changed despite choppy trading. U.S. economic data releases will inevitably have an important impact given the focus on U.S. inflation trends and the outlook for Federal Reserve tightening. Following the mixed employment report, confidence in growth has been boosted by the very strong increase of over 300,000 for February non-farm payrolls, especially with a jump in employment. Inflation fears have been eased by the lower-than-expected increase in average earnings, with annual growth held to 2.6%.

The clandestine gold diggers of the Nilgiris

It’s an illegal gold mine, deep in the heart of one of the hills surrounding the small, picturesque town of Devala in the Nilgiris, around 70 km from Udhagamandalam. We crawl through a dark, labyrinthine tunnel with a group of eight local miners, then venture down an 80-foot-deep shaft, lit only by battery-powered torches tied to the miners’ heads with bits of cloth and rope. At the bottom of the vertical shaft are more tunnels that eventually lead to the “seam” — layers of rock, hewn with pickaxes and rudimentary metal tools by the miners.

Gold Slips As Dollar Holds Steady

March 12 (Reuters) - Gold prices fell on Monday as the dollar held steady after data showed the U.S. economy added a larger-than-expected number of jobs in February. FUNDAMENTALS * Spot gold was down 0.1 percent at $1,322.15 per ounce at 0123 GMT. Prices touched their lowest since March 1 at $1,312.99 in the previous session. * U.S. gold futures for April delivery fell 0.1 percent to $1,322.10 per ounce. * The dollar index, against a basket of currencies, was little changed at 90.131. * A relief rally swept across Asian share markets on Monday after the U.S. jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally.

Gold Prices Hold Steady as U.S. Dollar Mildly Weakens

Investing.com - Gold prices held steady on Monday, as the U.S. dollar mildly weakened after broadly strengthening thanks to Friday's upbeat U.S. nonfarm payrolls report. Comex gold futures were little changed at $1,323.1 a troy ounce by 03:00 a.m. ET (07:00 GMT). The dollar initially strengthened after the Labor Department reported on Friday that the U.S. economy added 313,000 jobs last month, beating economists’ forecasts of 200,000. It was the largest monthly increase in one-and-a-half years.

PRECIOUS-Gold prices flat as rate hike worries ease

March 12 (Reuters) - Gold prices were steady on Monday as the U.S. dollar inched lower, with the latest U.S. jobs report easing fears of inflation and faster U.S. rate hikes. Spot gold XAU= was flat at $1,323.07 per ounce at 0315 GMT. U.S. gold futures GCcv1 for April delivery were little changed at $1,323.70 per ounce. The dollar index .DXY against a basket of currencies was down 0.1 percent at 90.038. USD/

Top 3 Silver Stocks as of March 2018

Many silver stocks looked beaten up in 2017, either near a bottom or struggling to overcome a resistance price. Most of these stocks remain at prices below their 50-day moving averages, and this is usually a bearish sign. We found three silver stocks that are currently at or near support levels. These stocks could rebound off support, but the wise investor will put them on a watch list to see how they perform before buying.

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