16th November, 2017

Thursday, November 16

Australia is to release its latest jobs report.
The UK is to report on retail sales.
The euro zone is to release revised inflation data.
Canada is to report on manufacturing sales and foreign securities purchases.
The U.S. is to release reports on jobless claims, industrial production, import prices and manufacturing activity in the Philadelphia region.
BoE Governor Mark Carney is to speak at an event in Liverpool.

Daily Gold Market Report

Gold faces negative pressure – Analysis - 16-11-2017
Gold price bounced downwards clearly yesterday after testing 1290.00 barrier, to fluctuate around the EMA50 again, noticing that the price moves within minor bullish channel that supports the chances of continuing the positive attempts in the upcoming period, especially that stochastic reaches the oversold areas now. Therefore, we suggest witnessing positive trading today, and the price needs to confirm breaching 1281.17 to reinforce the chances of heading towards 1299.20 level as a first main station, noting that breaking 1271.00 will stop the positive scenario and push the price to test 1263.15 level initially. Expected trading range for today is between 1270.00 support and 1295.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

No news for Silver – Analysis - 16-11-2017
Silver price did not show any strong move in the previous sessions, to continue fluctuating around the EMA50, thus, no change to the overall bullish trend scenario that depends on stability above 16.56, waiting to breach 17.43 to confirm opening the way to head towards 18.30 on the near term basis. 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 is stuck in a range of 2%

Silver is stuck in a range of 2% from last 7 days; resistance can be seen near 39950 levels, while support can be seen near 39250 levels. Currently it is trading near 39950 levels. On the hourly chart, RSI is above 60 levels, indicating high momentum in prices. If we see a daily close above the mentioned level then prices can touch 40600/40800 levels, else it will continue to trade in the mentioned range.

Global Silver Production will take a Big Hit this Year – Silver Bulls to Rejoice

It has been a rough year for many primary silver miners as two-thirds have suffered declines in production. Also, many high ranking silver producing countries are also experiencing a pronounced reduction in their domestic silver mine supply. According to the data put out by World Metal Statistics, Chile’s silver production is down 20% in the first eight months of the year, while Australia is down 19%, Mexico declined 2% and Peru lower by 1%.

'You can’t compare gold with diamonds&apos'

Mumbai: The Diamond Producers Association (DPA), an alliance of leading diamond miners like Alrosa, DeBeers, Rio Tinto, etc., has come to India to promote diamonds primarily among upper socio-economic class couples a few years into their marriage.

Why Base Your Money On Gold? A Simple Answer For First-Timers

The United States embraced the principle of a gold standard – a dollar whose value was linked to a defined quantity of gold – from 1789 to 1971, a stretch of 182 years. During this time, the U.S. was the most successful of any major country, expanding from thirteen war-ravaged states along the Atlantic seaboard to a world economic superpower, with the broadest and wealthiest middle class the world had ever seen. The U.S. dollar was the premier international currency, and New York was the world's financial capital.

Gold Rate Today: Gold, silver down in morning trade

Gold and silver were trading marginally lower in morning deals on Thursday on account of subdued demand of precious metals from jewellers, industries and retailers.MCX Gold futures were down 0.10 per cent, or Rs 30, at Rs 29,495 per 10 gram, while MCX Silver futures were down 0.13 per cent, or Rs 52, at Rs 39,659 per 1 kg at around the same time.

71 sovereigns of gold recovered

Madurai Rural police have arrested 15 persons in connection with several burglary cases reported in the district and recovered 71 sovereigns of gold and two cars from them. In a statement issued here on Wednesday, Superintendent of Police N. Manivannan appreciated the special teams that nabbed the accused and recovered properties worth over ₹22 lakh.

Gold bars seized, one held

Bhubaneswar: Air Intelligence Unit of the customs department recovered gold bars weighing 661.5gms worth Rs 19.46 lakh from a passenger at the Biju Patnaik International Airport here, an official said on Wednesday.A customs official said Tamil Nadu native Ahmed Kabir, 46, reached the airport from Kuala Lumpur by an AirAsia flight on Monday.

IBJA members can contact our Delhi regional office for any queries / suggestions regarding IBJA in the North region.
Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
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IBJA members can contact our Gujarat regional office for any queries / suggestions regarding IBJA in the west region.
Address : Gems & Jewellery Trade Council of India "GJTCI" Gem Place, 3rd Floor, Deepkala House, C. G. Road, Ahemdabad - 380 009, Gujarat.
Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

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