13th October, 2017

Friday, October 13

New Zealand is to publish a manufacturing index.
The Reserve Bank of Australia is to publish its financial stability review.
China is to release trade data.
The U.S. is to round up the week with reports on inflation and retail sales, as well as preliminary data on consumer sentiment.

Daily Gold Market Report

Gold awaits the breach – Analysis - 13-10-2017
Gold price resumes its positive trading by today's opening to approach from 1299.20 level, and stochastic provides positive overlapping signal now that we are waiting to motivate the price to breach the mentioned level and confirm extending the bullish wave towards our next target at 1321.49. Therefore, we will keep our bullish overview on the intraday and short term basis, supported by the EMA50 that keeps carrying the price from below, reminding you that holding above 1281.17 represents key condition to achieve the suggested targets. Expected trading range for today is between 1281.00 support and 1310.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver crawls upwards – Analysis - 13-10-2017
Silver price keeps its stability above the breached resistance line, showing calm bullish bias now on its way towards our first waited target at 17.43, to keep the bullish trend scenario active for today, and we still waiting to breach this level to open the way to head towards 18.30 on the near term basis. The EMA50 continues to support the suggested bullish wave, noting that holding above 16.56 represents key condition to continue the suggested bullish wave. Expected trading range for today is between 17.10 support and 17.43 resistance. Expected trend for today: Bullish

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Gold, silver trade trade in red on Friday morning

Gold and silver were trading in red in morning trade on Friday on account of subdued demand of precious metals by jewellers, industries and retailers. MCX Gold futures were down 0.11 per cent, or Rs 34, at Rs 29,780 per 10 gram around 10.20 am (IST), whereas MCX Silver futures were down 0.13 per cent, or Rs 52, at Rs 40,300 per 1 kg.

Gold, Silver Gain, At 2-Wk Highs; Bulls Have Momentum

(Kitco News) - Gold and silver prices were ending the U.S. day session up and hit two-week highs Thursday. Gold moved to within a whisker of the important $1,300.00 price level. The precious metals bulls are having a very good week, due to several factors that include safe-haven demand, a weakening U.S. dollar index, chart-based buying, and Federal Reserve members without a clear consensus on the inflation outlook. December Comex gold was last up $6.10 an ounce at $1,295.00. December Comex silver was last up $0.112 at $17.245 an ounce.

Why Silver Prices Are On Fire

As gold was looking to gain some lost ground post the release of the Federal Open Market Committee, some analysts are placing their bets elsewhere. Silver prices hit a two-week high on Thursday, further extending gains the metal has made over its more talked about counterpart, gold. So far this month, the metal has been outpacing the yellow metal - with silver futures up 3.35% compared to gold at 0.8%.

Profit-booking pulls gold futures down to Rs. 29,781

NEW DELHI, OCT 13: Gold prices drifted lower by Rs. 33 to Rs. 29,781 per 10 grams at the futures trade today as participants lightened their positions to book profits at existing higher levels even as the precious metal climbed overseas. Gold for delivery in December was trading down by Rs. 33 or 0.11 per cent at Rs. 29,781 per 10 grams at the Multi Commodity Exchange with a business turnover of 258 lots. The metal for delivery in February fell Rs. 24 or 0.08 per cent to Rs. 29,870 per 10 grams in 7 lots.

Gold rally pauses ahead of US inflation data

Gold prices were little changed amid a steady dollar on Friday, halting a five-day rally as investors wait for key US inflation data for clues on the outlook for potential hikes in US interest rates. FUNDAMENTALS * Spot gold was nearly unchanged at $1,293.76 an ounce at 0054 GMT after gaining for five straight sessions. * US gold futures for December delivery were flat at $1,296.10 per ounce.

Where Gold Trade Goes If London Loses Its Grip

London is facing challenges on multiple fronts to its centuries-old status as the place where the world trades gold. Two U.S.-based exchanges, CME Group Inc. and Intercontinental Exchange Inc., have created new ways of buying and selling precious metals. So has the London Metal Exchange. Trade volume in New York is rising, and China, where most of the metal ends up, is giving investors new ways to bet on gold’s price. All of this is a threat to London’s over-the-counter market, historically the leading player in global trade of bullion.

Swiss flushing away millions in gold and silver every year

ZURICH (Reuters) - While London’s sewers can get clogged with fatbergs made up of grease and diapers, it seems Switzerland’s waste system is flecked with silver and gold. Researchers last year detected 3 tonnes of silver and 43 kg of gold in effluent and sludge from waste water treatment plants - amounting to around 3 million Swiss francs ($3.1 million).

Motilal Oswal Sec, MMTC-PAMP launch digital gold service

Leading broking firm Motilal Oswal Securities Limited (MOSL), in partnership with MMTC-PAMP India, today launched a digital gold service. The service, 'Me-Gold', allows its customers to buy and sell 24 karat 999.9 pure gold on its digital platform. "We have launched digital gold product - Me-Gold on our mobile and web platform in partnership with the gold refinery MMTC-PAMP India. The product will provide our customers access for 999.9 (24Kt) pure gold purchased from MMTC-PAMP," MOSL chairman Motilal Oswal told reporters here.

Barrick’s Gold Production Hopes Pinned to Year-End Recovery

Barrick Gold Corp. reported quarterly output declines at its major gold mines as expected, with the world’s top producer saying it remains on track for annual targets despite disruptions in Argentina and Tanzania. In a preliminary production report released Thursday ahead of its scheduled Oct. 25 earnings report, Toronto-based Barrick said it produced 1.24 million ounces in the third quarter, down from 1.38 million a year ago. Cormark Securities analyst Richard Gray had projected 1.36 million.

'Gold To Outperform All Other Currencies' - Gartman

Hive Switches From Mining Gold to Bitcoin, Surges Six-Fold

Gold Price Responds To Fed Minutes

(Kitco News) - Release of the Fed meeting minutes yesterday indicated a lack of unity on the speed and aggressiveness of Fed rate hikes. Comments indicated a concern about the level of inflation, the key metric for higher rates. The Fed seems perplexed on the stubborn, below-target, inflation numbers, and the minutes showed a growing divide between the voting members on when and how aggressively the Fed should tighten.

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