14th August, 2017

Monday, August 14

New Zealand is to release data on retail sales.
Japan is to produce preliminary figures on second quarter growth.
China is to publish reports on industrial production and fixed asset investment.

Daily Gold Market Report

Gold needs the positive momentum – Analysis - 14-08-2017
Gold price settles near the first waited target at 1295.37, and stochastic continues to attempt to gain the positive momentum on the intraday time frame,s waiting to motivate the price to resume the bullish trend on the intraday and short term basis, noting that our next target is located at 1312.00. Therefore, we will continue to suggest the bullish trend, which is affected by the previously completed inverted head and shoulders' pattern, noting that breaching the above mentioned levels will extend gold price gains to reach 1345.00, while the rise will remain valid unless we witnessed clear break and hold below 1254.56. Expected trading range for today is between 1275.00 support and 1300.00 resistance. Expected trend for today: Bullish

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Press Release - IIGC 2017

Gold / Silver / Copper futures - weekly outlook: August 14 - 18

Investing.com - Gold prices rose to a two-month high on Friday following a weaker-than-expected U.S. inflation report that investors worried would delay plans for another interest rate hike by the Federal Reserve this year. Gold futures for December delivery settled up 0.38% at $1,295.00 on the Comex division of the New York Mercantile Exchange, the highest close since June 6.

Comprehensive gold policy on cards

Ministry of Finance along with Ministry of Commerce, Reserve Bank of India, Ministry of Consumer Affairs and other stakeholders are coming out with a comprehensive gold policy. This was stated by the India Bullion and Jewellers Association (IBJA) in a statement issued on the outcome of its just concluded 14th edition of India International Gold Convention 2017 organised in Goa.

Government issues circular to prevent misuse of FTA with South Korea , ASEAN

Gold futures fall to Rs. 29,135 on weak global cues

The Investment Bank Tipping Gold to Hit $1,400

Gold prices are set to jump to a four-year high of $1,400 an ounce by the end of the year over mounting tensions between North Korea and the U.S., and surging demand in the world’s biggest consumers, according to the head of precious metals at a Russian investment bank. Bullion could rise to $1,360 within three months before climbing higher, fueled by global political risks and buying from China and India, said Evgeny Ananiev at VTB Capital JSC, the investment-banking unit of Russia’s second-largest lender VTB Group. “We may see some correction, but I don’t think gold will drop below $1,200 as it’s well supported,” he said in a weekend interview in Goa. The metal traded at $1,285.73 on Monday.

New gold policy likely soon

A comprehensive gold policy would be announced soon, said the India Bullion and Jewellers Association. In a statement issued after its 14th edition of the India International Gold Convention 2017, organised in Goa, it said the ministries of finance, commerce and consumer affairs, the Reserve Bank of India and other stakeholders were coming out with a comprehensive gold policy.

HONG KONG IS HAVING ANOTHER GO AT GOLD TRADING – HERE’S WHY IT WILL SUCCEED THIS TIME

Back in May, Hong Kong Exchanges and Clearing announced plans to launch gold futures contracts. This is not the first time Hong Kong has tried to muscle into the market for gold derivatives. Even though China years ago overtook everyone else to become both the world’s biggest miner and biggest consumer of gold, international trading in the precious metal remains centred on London and New York. However, where previous initiatives fell short, there are reasons to believe HKEx’s new contracts stand a better chance of success.

Gold, silver trade mix in morning deals

Gold was trading in red in morning deals on Monday on account of subdued demand of precious metals from jewellers, investors and retailers. MCX Gold was down 0.23 per cent, or Rs 66, at Rs 29,137 per 10 gram around 10.30 am (IST), whereas MCX Silver was up 0.08 per cent, or Rs 31, at Rs 39,225 per 1 kg.

Silver futures rise to Rs. 39,223 per kg

NEW DELHI, AUG 14: Taking positive cues from the global market, silver prices rose 0.07 per cent to Rs. 39,223 per kg at the futures trade as traders created speculative positions. At the Multi Commodity Exchange, silver for delivery in September rose Rs. 29 or 0.07 per cent to Rs. 39,223 per kg in a business turnover of 563 lots. Similarly, the white metal for delivery in far-month December was trading higher by Rs. 10 or 0.03 per cent to Rs. 39,746 per kg in two lots.

Gold slips as dollar steadies; N. Korea headlines in focus

Gold edged down from two-month highs on Monday, as the dollar inched up from last week's lows and investors kept a close watch on any developments on tensions over the Korean peninsula. Spot gold was down 0.1 percent $1,287.60 per ounce at 0359 GMT, after marking its highest since June 7 at $1,291.86 an ounce in the previous session. US gold futures for December delivery were little changed at $1,293.8 per ounce.

Gold Price Chart: Find all the latest gold rate chart and news

Gold edged down from two-month highs on Monday, as the dollar inched up from last week's lows and investors kept a close watch on any developments on tensions over the Korean peninsula.

India INX to commence trading in gold options from Aug 30

BSE-promoted India International Exchange (India INX) will launch trading in gold options from August 30, a move which will allow investors an opportunity to hedge their risk without worrying about daily market volatility. India INX, which has received regulator Sebi's nod to launch the product, has estimated that gold options, along with other gold contracts, would clock a daily average turnover of USD 35 million on the exchange's platform.

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