15th September, 2017

Friday, September 15

New Zealand is to release private sector data on manufacturing activity.
The U.S. is to round up the week with a string of economic reports, including data on retail sales, industrial production, manufacturing activity in the New York region and consumer sentiment.

Daily Gold Market Report

Gold still stuck – Analysis - 15-09-2017
Gold price approached from testing the key resistance at 1335.50, and the price still stuck between the next trend keys represented by the mentioned resistance and 1321.49 support, and as we mentioned yesterday, the price needs to breach one of these levels to detect its next targets clearly, which makes us continue with our neutrality until now. Stochastic provides negative signals now, while the EMA50 forms positive support to the price, therefore, this contradiction provides another reason for neutrality, reminding you that breaking 1321.49 support will put the price under more correctional bearish pressure that its next target reach to 1299.20, while breaching 1335.50 will stop the correctional bearish bias and push the price to regain its main bullish track that its targets begin at 1357.50 and extend to 1400.00. Expected trading range for today is between 1310.00 support and 1355.00 resistance. Expected trend for today: Depends on the above mentioned levels

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Gold, silver flat in morning trade

Gold and silver traded flat in morning trade on Friday amid lacklustre demand of the precious metals from jewellers, industries and retailers. MCX Gold was 0.06 per cent down at Rs 29,992 around 10.25 am (IST), while MCX Silver was down 0.04 per cent at Rs 41,122 per 1 kg.

Gold, silver trade in red

Precious metals, gold and silver were trading in the negative territory during Thursday’s trading session as investors track a weak trend overseas. MCX Gold was down 0.19%, at Rs 29,829 per 10 gram around 1216 hours, whereas MCX Silver was down 0.45%, at Rs 40,923 per 1 kg. This weak trend in precious metals was seen as investors turned their attention to the US consumer inflation data later in the day for clues on the timing of further interest rate hikes and profit-booking by participants. Inflation is a key economic factor the US central bank considers when deciding monetary policy. A strong reading could raise expectations for future interest rate increases, which would put pressure on non-yielding bullion.

Indonesia is the new gold route to India

Less than three weeks after the government placed curbs on the import of gold under a free trade agreement with South Korea, some traders have found a loophole and are supplying the metal at a lower price through Indonesia, which has a similar accord with India. Almost 150 kg of gold from Indonesia landed in India last week and the industry has brought the matter to the notice of the government, traders said."We had a meeting with senior offi cials of the Directorate General of Foreign Trade rec ..

Gold Up in Choppy, 2-Sided Session

Gold inches up as geopolitical tensions rise

Gold retakes Rs. 31,000 level on demand push, soars Rs. 650

NEW DELHI, SEPT 14: Gold today took strength from a positive trend overseas by surging Rs. 650 per 10 grams to seize the Rs. 31,000 level, driven up by fresh local buying. But silver fell sharply by Rs. 350 to Rs. 41,500 per kg, mainly due to softening demand by industrial units and coin makers. Tension still brews on the Korean front as North Korea is digging in its heels over the UN resolution and the sanction over its most powerful nuclear test, analysts said.

Games with Gold September 2017 UPDATE: Last chance to grab free Microsoft titles

Like usual, a Games with Gold September shuffle is set to land, changing what is available to download. September 16 will see the likes of Trials Fusion replaced with Oxenfree on Xbox One. Oxenfree description: “In this award-winning teen supernatural thriller, you accidentally open a ghostly portal during an overnight party, releasing unknown paranormal forces.

Bitcoin Is Bitting Away At Gold's Safe-haven Appeal - Mohamed El-Erian

(Kitco News) - The rise of bitcoin, mostly during times of duress, has some investors questioning whether the virtual currency is taking away from gold’s safe-haven allure. "Cryptocurrencies are not going away any time soon and are part of gold's problems," said Mohamed El-Erian, former PIMCO head and chief economic advisor for Allianz, during CME Group's annual precious metals dinner in New York Thursday.

Brazilians Toil for Gold in Illegal Amazon Mines

CREPURIZAO, BRAZIL — Informal mining in Brazil is seen by many as a scourge polluting the Amazon rainforest, poisoning indigenous tribes and robbing the nation of its wealth. For others it is a way of life. Brazilian garimpos, or wildcat mines, are operated by small crews of men, often caked in red-brown mud and working with rudimentary pans, shovels and sluice boxes that have been used for centuries.

Gold prices jump Rs650 on demand push, retake Rs31,000 level

New Delhi: Gold prices on Thursday took strength from a positive trend overseas by surging Rs650 per 10 grams to seize the Rs31,000 level, driven up by fresh local buying. But silver fell sharply by Rs350 to Rs41,500 per kg, mainly due to softening demand by industrial units and coin makers.

Gold and Silver Yawn at North Korea

Gold rose slightly this morning after the latest North Korea missile test, but overall, the reaction was muted. Gold touched 1334.00 before falling back just as quickly to the unchanged level of 1330.00 in Asia trading. We would expect dips to be sought after in Asia and North America today as trader put on weekend risk hedges, but it would appear that a certain level of North Korea apathy has set in as the big dollar marks time into the end of the week.

Gold, bitcoin and the dollar

Are we seeing signs of a return to gold-backed currencies? It’s a valid question in the light of a deal now being implemented between China and Russia. China, the world’s biggest oil importer is de-dollarising its oil bill with its biggest supplier, Russia, by paying in yuan that can be converted into gold. That, in effect, means gold backing for a major currency in a highly significant international transaction and which will be extended to cover the total $116 billion per annum Chinese oil bill.

Gold retreats back to $1330 level, US macro data in focus

Gold surrendered majority of its early gains and has now retreated back to $1330 level, despite renewed concerns over geopolitical risks. • Forex Today: markets jittery on N. Korean missile test, another day of important US macro data North Korea fired another missile over Japan and revived the precious metal's safe-haven appeal during early Asian session on Friday. The up-move, however, turned out to be short lived and was being capped by a modest pick-up in the US Dollar demand, which capped gains for dollar-denominated commodities - like gold.

Stoke-on-Trent City Council's bid to buy Iron Age gold

A council is campaigning to raise £325,000 to stop the "oldest" Iron Age gold found in Britain being sold to private bidders. The gold jewellery, believed to be about 2,500 years old, was discovered by friends Mark Hambleton and Joe Kania on Staffordshire Moorlands farmland. Stoke-on-Trent City Council has been given three months to buy the three necklaces and bracelet by the Crown. If its bid is successful, the gold will go on public display.

Gold prices slip further as the US dollar steadies

Gold prices edged lower today after a rally throughout August and early September petered out this week. The yellow metal slipped below $1,322 per ounce this morning, but it has since risen back to $1,327.60, just 0.03 per cent below its closing price yesterday. Gold neared $1,350 to reach its highest level in a year last Friday, but it lost those gains this week as the US dollar strengthened

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