17th August, 2017

Thursday, August 17

New Zealand is to release data on producer prices.
Australia is to publish its monthly employment report.
The UK is to produce retail sales data.
The euro zone is to release revised inflation data and the European Central Bank is to publish the minutes of its latest monetary policy meeting.
Canada is to report on manufacturing sales.
The U.S. is to release data on jobless claims, industrial production manufacturing activity in the Philadelphia region.
Dallas Fed President Robert Kaplan is also to speak.

Daily Gold Market Report

Gold approaches from the first target – Analysis - 17-08-2017
Gold price rallied upward strongly by the end of yesterday's trading, starting today with more positivity to approach from our first waited target at 1295.37, to keep the bullish trend scenario valid and active on the intraday and short term basis, as the price is affected by the previously completed inverted head and shoulders' pattern, which its full target located at 1312.00. Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that breaching the last level will extend gold price gains to reach 1347.00 as a next main station, while the bullish trend will remain valid unless breaking 1254.56 level and holding below it. Expected trading range for today is between 1275.00 support and 1300.00 resistance. Expected trend for today: Bullish

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Proposal for Photocard for Hallmarked Jewellery

Gold Was Chemically Destined To Be Money All Along

I think most of you reading this right now are aware that gold is unlike any other metal, certainly any other element. It doesn’t play by the same rules as iron or tin or aluminum, and its value has nothing to do with its utility—or lack thereof. People valued the yellow metal for its beauty and malleability eons before they knew of its usefulness in conducting electricity or its chemical inertness.

This Key Gold Producer Sees Its Production Slump

The gold price has been showing strength this past week. Once again pushing toward $1,300 per ounce. And news from one of the world’s key producing countries may help support that drive. That’s Ghana. Where government officials said over the weekend that recent regulatory changes are about to have a major impact on gold production. Those comments came from Ghana’s deputy minister of land and mines, Barbara Oteng-Gyasi — speaking to Reuters at a gold industry conference in India. With the deputy minister revealing that recent attempts to curb artisanal mining in Ghana are likely to cause a big fall in production this year.

In The Age Of Cyber-Terrorism, Every Investor Must Own Gold

Blockchain Targets the $27 Billion Daily Gold Market

Gold prices drop below Rs30,000, silver plunges Rs800

New Delhi: Gold moved on a slippery track on Wednesday, settling below the Rs 30,000-mark by plunging Rs 300 to Rs 29,750 per 10 grams, in a sign of subdued overseas trend as well as local demand. The plunge was sharper in silver, which cracked below the Rs 40,000 level at Rs 39,300 per kg, a loss of Rs 800, weighed down by a drop in offtake.

Gold Prices: Why We Could See A Decline

Last month, I expressed my sentiment that in light of Brexit and expectations of delays in rate hikes in the United States, we could be set to see gold prices spike up to peaks of 1375 as seen in 2016. Since July, we have seen gold prices appreciate from a level of 1210 to just under 1300.

Gold Weaker Amid Risk-On Attitudes; FOMC Minutes On Deck

(Kitco News) - Gold prices are modestly lower again in early U.S. trading Wednesday. Significantly improved investor risk appetite has pressured the safe-haven metal every day this week. However, no serious near-term technical damage has been inflicted and the gold bulls still possess the near-term chart advantage. December Comex gold was last down $4.00 an ounce at $1,275.70. September Comex silver was last down $0.049 at $16.665 an ounce.

Gold, silver soar after US Fed minutes; palladium hits over 16-year high

Gold and silver were trading higher in early trade on Thursday following softness in dollar after minutes from the US Federal Reserve’s July meeting hinted at a delay in further rate hikes. MCX Gold was trading 0.65 per cent, or Rs 189, up at Rs 29,141 per 10 gram, while MCX Silver was up 1.04 per cent, or Rs 403, at Rs 39,266 per 1 kg.

Silver to trade in 38036-39402: Achiievers Equities

Silver trading range for the day is 38036-39402. Silver ended with losses but prices trimmed some of its losses after the release of downbeat U.S. housing sector data dampened demand for the greenback. The minutes from Fed’s last policy meeting showed policymakers were increasingly wary of recent softness in inflation and could delay a rate hike. U.S. central bank is roughly at the mid-point on its current path to normalize interest rates as the economy has shown further improvement even without fiscal stimulus.

Government bans export of gold items above 22-carat purity

NEW DELHI: The government has banned exports of gold jewellery, medallions and other articles above 22- carat purity in a bid to check round tripping of the precious metal. In a notification, the Directorate General of Foreign Trade (DGFT) has said certain provisions of the foreign trade policy (2015-20) are "amended to allow export of gold jewellery (plain or studded) and articles containing gold of 8 carats and above up to a maximum limit of 22 carats only from domestic tariff are ..

Gold rate: Check out latest Gold price, trends and market outlook

Gold edged up early Thursday, extending gains from the previous session, as the dollar remained subdued after minutes from the Federal Reserve's July meeting hinted at a delay in further rate hikes. Gold and silver were trading higher in early trade on Thursday following softness in the dollar after minutes from the US Federal Reserve’s July meeting hinted at a delay in further rate hikes.

Smuggling of small quantities of gold remains a big mystery

Some days ago, officials with the Air Intelligence Unit of the Air Customs at Cochin International Airport Limited (CIAL) seized two gold wires cleverly concealed inside the central frame of a trolley bag. The gold, weighing about 716.400 grams, was seized while examining a passenger who landed here from Dubai. Thinking that the passenger should be carrying more gold, officials subjected him to a thorough search, but to no avail.

Gold unwinds as Korea tensions ease

August 16, 2017: As expected, gold prices have begun winding down from their recent high of $1,291 an ounce, with the waning of the tensions between the US and North Korea. The precious metal is giving up its safe-haven status and much of the value gained in recent days. History tells us that often geopolitical risks fade as fast as they rise. Prices tend to rise in an uncertain environment in anticipation of a conflict. When the risk of conflict abates even partially, markets begin to correct rapidly.

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