15th November, 2017

Wednesday, November 15

Japan is to release preliminary data on third quarter growth.
Chicago Fed President Charles Evans is to speak in London.
The UK is to publish its latest employment report.
 The U.S. is to release data on inflation and retail sales along with a report on manufacturing activity in the New York region.

Daily Gold Market Report

Gold negotiates the resistance – Analysis - 15-11-2017
Gold price ended yesterday's trading at 1281.17 level, as it closed the daily candlestick below this level after attempting to breach it in the previous sessions, but we notice that there is contradiction between the technical factors now, as we witness signs of ascending triangle that supports the chances of continuing to achieve gains in the upcoming period, reinforced by the EMA50 that forms intraday support now, while on the other hand, stochastic shows overbought signals that support yesterday's negative close. Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to the mentioned leve, as holding above it will push the price to achieve gains that start at 1299.20 and extend to 1321.50, while trading below it again will push the price to target 1263.15 level mainly. Expected trading range for today is between 1270.00 support and 1295.00 resistance. Expected trend for today: Neutral

Daily Silver Market Report

Silver continues to fluctuate – Analysis - 15-11-2017
Silver price keeps fluctuating within sideways and tight range around the EMA50, noticing that stochastic begins to provide positive overlapping signal on the four hours' time frame, to support the chances of rising in the upcoming sessions, waiting to test 17.43 level initially. Therefore, the bullish trend will remain valid in the upcoming period unless breaking 16.56 level and holding below it, reminding you that breaching 17.43 will push the price towards 18.30 as a next main target. Expected trading range for today is between 16.90 support and 17.20 resistance. Expected trend for today: Overall Bullish

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Silver Will Be the Precious Metal To Buy In 2018 - TD Securities

(Kitco News) - Silver will be the precious metal to watch next year, according to commodity analysts at TD Securities. In its 2018 Global Outlook, the Canadian bank said its trade recommendation for next year is to go long silver with a price target at $20 an ounce, which is more than a 17% gain from current prices

Will Silver Make New 2017 Lows?

We are getting a strong confirmation based on an intermediate- and long-term supply and demand basis (mean reversion) that the gold and silver markets are about to break out to the upside with the possibility of challenging the September highs by the end of 2017.

1.30 kg smuggled gold seized at Madurai airport

Customs officials on Tuesday seized around 1.30 kg of gold worth ₹38.19 lakh from two passengers who arrived at Madurai airport from Singapore and Colombo. Acting on specific intelligence about gold smuggling, a team of officials, led by Assistant Commissioner (Customs) V. Jaya Bharathi, checked the baggage of one Gowth Mohideen from Chennai, who arrived from Singapore by Air India Express.

Gold prices to trade lower: Angel Commodities

On Tuesday, spot gold prices rose 0.24 percent to close at $1280.6 per ounce as a weakening U.S. dollar and sluggish stock market helped pull the precious metal off a one - week low hit in early trade, while traders also said uncertainty over the fate of a U.S. tax cut prompted some safe - haven buying of gold. Worries about Republican tax plans and the economy's ability to deal with more interest rate hikes dented appetite for assets perceived as risky and boosted gold's appeal as a safe - haven. Four of the world's top central bankers promised to keep openly guiding investors about future policy moves as they slowly withdraw the huge monetary stimulus rolled out during the financial crisis. On the MCX, gold prices rose by 0.07 percent to close at Rs.29763 per 10 gms.

PRECIOUS-Gold steady as dollar firms ahead of U.S. consumer data

Nov 15 (Reuters) - Gold prices held steady early Wednesday, after hitting a more than one-week low in the previous session, as the dollar firmed and investors waited for cues from U.S. consumer inflation data. FUNDAMENTALS * Spot gold was nearly unchanged at $1,280.90 per ounce at 0103 GMT. On Tuesday, gold touched a session low of $1,270.56, a bottom since Nov. 6, before recovering to gain about 0.2 percent. * U.S. gold futures for December delivery slipped 0.2 percent to $1,280.90.

Gold futures decline on profit-booking

NEW DELHI, NOV 15: Gold prices were down by Rs. 17 at Rs. 29,605 per 10 grams in futures trade today as participants went for profit-booking at prevailing levels even as the metal strengthened overseas. In futures trade at the Multi Commodity Exchange, gold for delivery in December shed Rs. 17, or 0.06 per cent, at Rs. 29,605 per 10 grams in a business turnover of 250 lots.

Gold Is A ‘Long Way Away’ From A ‘Powerful Bull Market’

(Kitco News) - As major central banks around the world are looking to tighten their monetary policies, gold could suffer, delaying the anticipated bull market, said one senior portfolio manager. Economists are carefully watching the actions of the U.S. Federal Reserve, which is reducing its balance sheet and is widely expected to raise rates again in December. Also on their radar, is the European Central Bank, which wants to start tapering its bond purchases.

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