12th April, 2018

Thursday, April 12

Bank of Japan Governor Haruhiko Kuroda is to speak at an event in Tokyo.
The ECB is to publish the minutes of its March Meeting.
Canada is to report on new house price inflation.
The U.S. is to publish the weekly report on initial jobless claims.
Bank of England Governor Mark Carney is to speak at an event in Toronto.

Daily Gold Market Report

Gold reaches the target – Analysis - 12-04-2018
Gold price achieved strong gains yesterday to reach our waited target at 1365.97, noting that the price continues to decline calmly, and stochastic negativity still valid, noticing that the indicator gets rid of its negative momentum gradually to head towards the oversold areas, to provide positive factor that we are witing to assist to push the price to rise again. In general, we expect the continuation of the overall bullish trend domination unless breaking 1335.40 and holding below it, a breaking this level will push the price back to the correctional bearish track, while breaching 1365.97 represents the key to rally towards 1390.00 followed by 1400.00 levels as next main stations. Expected trading range for today is between 1330.00 support and 1370.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver tests the resistance – Analysis - 12-04-2018
Silver price achieved clear rise yesterday to touch the sideways range resistance at 16.80 and rebounds bearishly from there, to keep the price stuck inside the mentioned range that its support line located at 16.15, noting that stochastic current negativity contradicts the positivity of moving above the EMA50. Therefore, the sideways bias will remain dominant on the intraday basis unless breaching one of the above mentioned levels, noting that breaching the resistance will lead the price to visit 17.43 as a next main target, while breaking the support will push the price to suffer losses that reach 15.49 on the near term basis. Expected trading range for today is between 16.40 support and 16.85 resistance. Expected trend for today: Sideways

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Silver Stuck In Quicksand

Silver appears to be in the twilight zone, stuck in a very tight range. The commercials are buying silver, selling gold and yet the ratio continues to expand, with gold now 82 times over silver. On the surface, the silver Commitment of Traders report appears to be bullish. However, the charts are not playing out that way. Silver is in an extraordinarily tight range, keeping the silver bulls at bay.

Hecla: 1Q Silver Output Falls Year-on-Year; Gold Production Rises

(Kitco News) - Hecla Mining Co. (NYSE: HL) reported Wednesday that silver output in the first quarter fell from the same period a year ago as the Lucky Friday Mine strike continues, but gold production increased slightly. Silver production for the January-March quarter was 2.5 million ounces, down from 3.4 million in the same period of 2017. Unionized workers at Lucky Friday have been on strike since March 2017, with limited output being carried out by salaried staff. As a result, output there fell to 99,780 ounces from 680,782 a year ago. San Sebastian silver production fell to 512,192 ounces from 750,803, although Hecla said this topped expectations.

Gold hits highest level since August 2016 in wake of Trump's missile threat

Gold futures hit their highest price since August 2016 on Wednesday, rising as investors fled to perceived safe havens after President Donald Trump threatened a missile strike in Syria. Gold for June delivery climbed as much as 1.75 percent to $1,369.40 an ounce on the Comex in New York, its highest level since Aug. 5, 2016, when gold futures traded as high as $1,371. Gold futures prices later retreated slightly from those levels to settle at $1,360.

Multiple Events Shape Gold Sentiment

With the U.S. financial markets closing for the day, we can see the outcome of numerous markets reacting to several different events. Gold futures are currently trending higher, although they are off of the highs achieved this morning at $1,369.40. The Dow Jones Industrial Average is off by almost a full percentage point, currently trading at 24,000, which is a net decline of 217 points on the day.

Origin of ancient gold treasure revealed

A group of Spanish archaeologists ran a chemical and isotopic analysis to examine gold fragments that had broken off from one of the artifacts that make up the Carambolo Treasure, a 2,700-year-old cache whose origin has been a source of debate. According to National Geographic, some experts say the pieces were created by Tartessos, a wealthy civilization that thrived in southern Spain between the ninth and sixth centuries B.C. Others, the magazine adds, are convinced the jewels belonged to the Phoenicians, who arrived in the western Mediterranean in the eighth century B.C.

Gold off 11-week highs after Fed signals more U.S. rate hikes

After rising for four previous sessions, spot gold was down 0.2 percent at $1,350.70 an ounce as of 0319 GMT and U.S. gold futures fell 0.4 percent to $1,354.5 an ounce. All of the Federal Reserve’s policymakers felt that the U.S. economy would firm further and that inflation would rise in the coming months, minutes of the central bank’s last policy meeting on March 20-21 released on Wednesday showed.

Gold Price Breaks $1345 for 6th Time in 2018 as Russia-US Tensions Worsen

GOLD PRICES rose in Asian and London trade Wednesday morning, rising above $1345 per ounce for the 6th time in 2018 so far amid worsening US-Russia tensions over Syria. Gaining 1.0% from the end of last week in US Dollar and Japanese Yen terms, the gold price rose less steeply for investors in other currencies

Gold flirts with highest close in nearly 2 years as political tensions ramp up

Gold prices on Wednesday were on track for the highest settlement since August of 2016, as escalating political tensions added to buying in the asset perceived as a haven during global uncertainty. June gold GCM8, -0.49% was recently trading at $1,366.60 an ounce, up $20.60, or up 1.5%, which would mark--if it holds--the highest close for the precious metal since Aug. 4, 2016, based on a most-active contract, according to FactSet data.

Bond King Jeff Gundlach Says Gold Could Rally $1,000

(Kitco News) - Famed investor Jeffrey Gundlach remains optimistic that it is only a matter of time before the gold prices break their chains, which could push prices close to $1,500 an ounce. The CEO of Doubleline, also known as the “bond king,” is once again attracting the attention of gold investors as he sees the yellow metal at a critical juncture.

Where is Gold Headed Next Week? VOTE NOW!

Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.

Gold prices to trade higher today: Angel Commodities

On Wednesday, gold prices rose 1.03 percent to close at $1352.9 per ounce on escalating geo - political tensions in Syria while the U.S. Federal Reserve confirmed policymakers' sentiment of a stronger U.S. economy, denting safe haven appeal. All Fed policymakers felt the U.S. economy would firm further and inflation would rise in coming months, minutes of the central bank's last policy meeting on March 20 - 21 released Wednesday showed.

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