14th November, 2017

Monday, November 13

Philadelphia Fed President Patrick Harker is due to speak at an event in Tokyo.
Bank of Japan Governor Haruhiko Kuroda is to make remarks on monetary policy at an event in Zurich.

Daily Gold Market Report

Gold gets a negative signal – Analysis - 14-11-2017
Gold price begins today's trading with slight bearish bias affected by the negative signal provided now by stochastic, and the EMA50 continues to form negative pressure against the intraday trading, thus, we believe that the chances are valid to continue the decline and visit our main waited target at 1263.15 in the upcoming sessions. In general, we will continue to suggest the bearish trend unless breaching 1281.17 and holding above it, as breaching this level will push the price to achieve gains that start at 1299.20 and extend to 1321.50. Expected trading range for today is between 1263.00 support and 1281.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver without any change – Analysis - 14-11-2017
Silver price did not show any strong move in the previous days, to continue fluctuating around the EMA50, which keeps the bullish trend scenario valid as it is without any change, which its continuation conditions holding above 16.56 level, waiting to breach 17.43 level to confirm extending the bullish wave towards 18.30. Expected trading range for today is between 16.80 support and 17.20 resistance. Expected trend for today: Overall Bullish

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Gold, silver trade lower in morning deals

Gold and silver were trading lower in morning deals on Tuesday on account of subdued demand of precious metals by jewellers, industries and retailers. MCX Gold futures were down 0.12 per cent, or Rs 36, at Rs 29,575 at 11.25 am (IST), while MCX Silver futures were down 0.27 per cent, or Rs 109, at Rs 39,803 per 1 kg at around the same time. According to SMC Investments and Advisors, bullion counter may trade with weak bias on Tuesday as the movement of greenback...

Gold prices dip as dollar holds up on higher US bond yields

Gold prices inched down on Tuesday, with the dollar holding steady on higher US Treasury yields amid uncertainty over the outlook for tax reforms in the United States. Higher US bond yields can pressure gold prices as they reduce the appeal of non-yielding bullion, while a stronger dollar makes the metal costlier for holders of other currencies. Spot gold was down 0.1 per cent at $1,276.29 per ounce at 0355 GMT. US gold futures for December delivery fell 0.2 per cent...

Expect Gold to trade negative: Sushil Finance

Gold recouped some of the previous session's hefty losses on Monday as the U.S. dollar steadied and uncertainty over a U.S. tax reform plan stoked risk aversion, pulling equities from their recent record highs. Prices remained stuck in a narrow range, how ever, as investors awaited more clues on the path of U.S. interest rates. While the increase in yields supported the dollar early on Monday, it later pared gains. Stock markets also took a step down as uncertainty over a U.S. tax reform deal pushed them fur ther away from recent record highs...

Gold likely to average $1,285 an ounce in 2018

If you think gold will go up or down in 2018, think again, said the UBS strategist, who reversed her bullish gold position to neutral. There is no near-term catalyst that is powerful enough to move gold prices significantly higher or lower, according to UBS strategist Joni Teves, who projects that the metal will average $1,285 next year...

Precious Metal Markets: A Brief Look at the Gold–Silver Spread

The past week has been beneficial for precious metals—gold, silver, platinum, and palladium rose 0.42%, 1.5%, 0.63%, and 1.5%, respectively. The fluctuations in these metals were most likely due to geopolitical tensions rising in various parts of the globe, particularly the Middle East. Much of October’s unrest was also due to the decision regarding the next chair of the Federal Reserve. This selection was seen as crucial to the movement of interest rates in the US. The stance of the Federal Reserve could be more dovish, as Jerome Powell was chosen to head the US central bank...

Think AGAIN! – Is Bitcoin a Better Store of Value than Gold?

Bitcoin plummeted, extending its drop to 29 percent from a record high, on speculation some traders were buying its offshoot amid a struggle over the digital currency’s future. Bitcoin dropped to as low as $5,605 on Monday, from a record high $7,882 reached on Wednesday, data compiled by Bloomberg show. Bitcoin cash rose to $2,426 on Sunday, before plunging to $1,379 as of 9:32 a.m. in Hong Kong, according to Coinmarketcap.com. Bitcoin has slumped since the cancellation of a technology upgrade to increase its block size, amid speculation supporters of the proposal bid up bitcoin cash to undermine the original bitcoin...

Gold Hits Lowest Point in 9 Years

This week, the World Gold Council announced that the third quarter demand for gold has hit its lowest point since the third quarter of 2009. The final reading was for 915 metric tons, as seen in this graph: This shockingly low worldwide gold demand largely stems from the low demand coming out of India, which has seen a meager increase from 2016, and yet will close this year well below the six-year average at approximately 700 tons, seen below...

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