14th September, 2017

Thursday, September 14

Australia is to release its monthly jobs report.
China is to publish data on fixed asset investment.
The Swiss National Bank is to announce its latest monetary policy decision and publish its policy assessment.
The Bank of England is to announce its latest interest rate decision and publish the minutes of its monetary policy meeting.
Canada is to report on new house price inflation. The U.S. is to release data on consumer price inflation and initial jobless claims.

Daily Gold Market Report

Gold pushes on the support line – Analysis - 14-09-2017
Gold price attempts to break the key support 1321.49 without settling below it until now, to keep the price stuck between the trend confirmation levels represented by the mentioned support and 1335.50 resistance, and the price needs to breach one of these levels to detect its next targets clearly, which makes us continue with our neutrality until now. The contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality, noting that breaking the mentioned support will push the price to extend the bearish correction and target 1299.20 areas direct, while breaching the resistance will lead the price to recover and regain the main bullish trend that its targets begin by visiting the previously recorded top at 1357.53 and extend to reach 1400.00. Expected trading range for today is between 1300.00 support and 1340.00 resistance. Expected trend for today: Depends on the above mentioned levels

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Proposal for Photocard for Hallmarked Jewellery

Silver futures ease 0.35% on global leads

NEW DELHI, SEPT 14: Silver prices declined by 0.35 per cent to Rs. 40,968 per kg in futures trade today as participants reduced their exposure after the metal prices fell in global markets. At the Multi Commodity Exchange, silver for delivery in December fell by Rs. 142, or 0.35 per cent, to Rs. 40,968 per kg in a business turnover of 663 lots.

While Gold builds Momentum after Breakout, Silver Indicates End of Bear Market

Gold continues to build towards its breakout from a massive 4-year long base pattern. This is likely to occur when the dollar breaks down from its topping pattern, and is expected to lead to a bull market that will dwarf the last one from 2001 through 2011, and may be given a tailwind when the cryptocurrency Ponzi scheme implodes. In some quarters gold is being described as having broken out already, as are gold stocks, but they haven’t yet, as we will see, and we will also look at evidence that points to the probability of a short- to medium-term dollar bounce and a pullback in the precious metals sector before the big breakout occurs.

Banks May Yet Try Stemming the Gold and Silver Rally

Following the events of yesterday, it seems wise this morning to take an in-depth look at the charts in order to discern what moves The Banks may take next in the hope of stemming this rally and reversing the trends. Let’s start with Comex Digital Gold. It has been in an UPtrend since July 10 and this rally has carried it $150 or about 12.5%. In doing so, The Commercials on the CoT have increased their NET short position by 182,000 contracts and, specifically, the 24 Banks of the Bank Participation Report have doubled their NET short position, going from 104,748 contracts NET short in July to 213,746 NET short last week.

Gold prices rebound on global cues; silver recovers

Delhi airport: After brassiere rims and baby strollers, gold hidden in rectum of women

Why you shouldn’t buy gold right now even if it’s Diwali

Rising gold prices and government measures to enforce compliance in the Indian jewelry industry are deadening demand in the world’s second-largest bullion market at the start of the traditional festival season when buying usually explodes. “If you ask me, I wouldn’t purchase gold even if it was Diwali,” Prathamesh Mallya, chief analyst at Angel Commodities Broking, said by phone from Mumbai, referring to the Hindu festival of lights. “A lot of things have been happening across the globe that have been pulling up prices. And if North Korea sends another ballistic missile next week, you will see prices rising again.”

Gold little changed amid firmer equities

SEPT 13: Gold held steady on Wednesday amid firmer equities, with safe-haven demand for the metal supported after US President Donald Trump urged tougher measures against North Korea. Spot gold was unchanged at $1,331.11 an ounce by 0340 GMT. US gold futures for December delivery were up 0.2 percent at $1,335.80 an ounce. Asian stocks were slightly lower after earlier marking a near 10-year top, following record highs on Wall Street.

Gold futures down 0.13% on weak global cues, profit-booking

Gold prices drifted lower by 0.13 per cent to Rs 29,846 per 10 grams in futures trading today as participants lowered their bets, tracking a weak trend overseas. Besides, profit booking by speculators after recent gains weighed on the prices. At the Multi Commodity Exchange, gold for delivery in October fell by Rs 40, or 0.13 per cent, to Rs 29,846 per 10 grams in a business turnover of 595 lots.

Gold slips to lowest in nearly 2 weeks, US inflation data in focus

Gold edged down on Thursday to its lowest in nearly two weeks on waning risk aversion, and as the dollar steadied ahead of U.S. consumer inflation data that could offer clues on the timing of further interest rate hikes. Spot gold was down 0.1 percent at $1,321.66 an ounce by 0342 GMT, after earlier dropping to its lowest since Sept. 1 at $1,318.75. U.S. gold futures for December delivery were down 0.2 percent at $1,325.60 an ounce.

Gold prices rise on global cues, silver recovers

Mumbai: Snapping its two-day losing streak, gold prices rebounded at the bullion market on Wednesday, taking positive leads from global markets amid increased buying by local jewellers.

How to Invest in Unstoppable Gold Prices

Gold is glittering this September. In fact, everyone's favorite metal has been quietly rallying for the last couple of months, charging up to new 52-week highs alongside the stock market. But while stocks have been lingering just below their high-water marks for a while now, gold is the clear momentum winner this fall. That's because, while the S&P is up around 2% since mid-July, the popular SPDR Gold Trust (GLD - Get Report) has more than quadrupled that performance, up 8.3% over the same time frame.

Gold prices to trade sideways: Angel Commodities

On Tuesday , spot gold prices rose 0.35 percent to close at $13 31.5 per on weak dollar while U.S. President Donald Trump said U.N. sanctions on North Korea are "nothing compared to what ultimately will have to happen." The Federal Reserve has raised U.S. interest rates twice this year in response to upbeat growth data and falling unemployment, but persistently soft inflation figures have tempered expectations for another hike in December. On the MCX, gold prices declined marginally by 0.03 percent to close at Rs.300 8 9 per 10 gms.

Bullish gold trend still intact and poised for potential continuation

On Wednesday, as the US dollar extended this week’s rebound from last week’s long-term lows against a basket of other major currencies, gold prices continued to pull back within the sharp uptrend that has been in place for the past two months. US inflation data on Wednesday morning, in the form of the Producer Price Index, helped give a further boost to the dollar, resulting in continued pressure on dollar-denominated gold. Although the PPI reading for August fell short of expectations at a 0.2% rise against a prior consensus forecast of 0.3%, the increase represented a significant rebound from July’s -0.1% decline in producer prices. Looking ahead to Thursday, the US Consumer Price Index for August will be released, with a consensus forecast of +0.3% (and core CPI, excluding food and energy, expected at +0.2%), following July’s lower-than-expected +0.1% rise.

Gold/silver micro-cap strikes exciting discovery

There was some big mining news last week involving a precious metals junior mining company with its operations focused in southern British Columbia. GGX Gold Corp. (TSX: V.GGX, OTCQB: GGXXF, Forum) released drilling results from its Phase I drilling program on the Company’s Gold Drop Project.The Gold Drop Project is situated on a 2,150 hectare land package. The property is the site of considerable historical gold mining operations. Mining dates back as far as 1919, with the most recent mining operations ending in the 1980’s.

Gold hangs near 2-week lows, US CPI in focus

Gold remained under some selling pressure through early Asian session on Thursday and fell to near 2-week lows, albeit has managed to pare some of its early losses. Against the back drop of decline in geopolitical uncertainty, fading safe-haven demand had been weighing on the precious metal since the beginning of this week. This coupled with a smart US Dollar recovery further undermined demand for dollar-denominated commodities - like gold.

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