17th January, 2018

Wednesday, January 17

The euro zone is to produce revised inflation data.
The U.S. is to report on industrial production.
The Bank of Canada to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.
Cleveland Fed President Loretta Mester is to speak at an event in New Jersey.

Daily Gold Market Report

Gold tests the recent high – Analysis - 17-01-2018
Gold price apoprached this week recorded top at 1344.70 and shows some slight bearish bias from there, noticing that stochastic keeps providing the positive signals on the intraday time frames, while the EMA50 continues to carry the price from below. Therefore, we will keep our bullish overview for the intraday and short term basis, waiting to test 1357.53 level as a next station, reminding you that breaching this level will extend Gold price gains to reach 1375.00 followed by 1404.00, while holding above 1321.49 represents key condition to continue the expected rise. Expected trading range for today is between 1330.00 support and 1357.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver recovers – Analysis - 17-01-2018
Silver price bounced upwards clearly after the decline that it witnessed yesterday, as the EMA50 managed to protect the price from suffering more losses, to move near the key resistance 17.43 again. Therefore, our bullish overview will remain active for the upcoming period, noting that breaching the mentioned level will push the price towards 18.30 as a next target, while holding above 16.55 represents the most important condition to continue the suggested bullish trend. Expected trading range for today is between 17.00 support and 17.40 resistance. Expected trend for today: Bullish

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Gold prices slip as dollar recovers from 3 year low

Gold prices reversed early gains to trade slightly lower on Wednesday as the US dollar recovered from a three-year low against a basket of currencies. Spot gold was down 0.3 per cent at $1,334.86 an ounce by 0641 GMT, after rising to $1,343.91 earlier in the session. It touched its strongest since Sept. 8 at $1,344.44 on Monday. US gold futures were down 0.1 per cent at $1,335.40 an ounce...

Profit-booking pulls gold futures down to Rs. 29,734

Gold prices fell 0.19 per cent to Rs. 29,734 per 10 grams at futures trade due to profit-booking by speculators at the prevailing levels amid a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in April fell Rs. 57 or 0.19 per cent to Rs. 29,734 per 10 grams in a business turnover of 10 lots. Similarly, the metal for delivery in February traded down by Rs. 31 or 0.1 per cent at Rs. 29,791 per 10 grams in 294 lots...

Gold import duty may not be cut

Gold rises to Rs. 31,100 despite weak global cues

Silver futures drop to Rs. 39,337 per kg

Gold Beats Bitcoin As The Preferred Asset In 2018: ETF Securities

Unlike for gold, it has not been a good start to the year for crypto currencies, especially for bitcoin, which lost significant traction as prices trade around $11,000 an ounce. Tuesday has been a particularly disappointing day for bitcoin investors, as the digital currency has dropped almost 20% during the trading session. Kitco.com’s aggregated markets show bitcoin last traded at $11,400 a token. Bitcoin is down 42% from its record highs of above $19,000 seen just one month ago...

Silver to 'Outperform Gold' in 2018 as Gold/Silver Ratio Trades 41% Above 50-Year Average

GOLD PRICES for Euro, UK and Japanese investors fell back near unchanged for 2018 so far on Tuesday and silver fell to a small loss for the New Year as world stock markets pushed up to fresh record highs. Industrial commodities fell but major government bond prices rallied from their sell-off, pulling the yield offered to new buyers down from the recent multi-month highs...

New Risks Could "Spark" Demand For Silver In 2018 - HSBC

Silver remains an overlooked asset, but in 2018 things could change, as prices are projected to rise based on recovering industrial and investor demand, according to HSBC’s latest silver outlook. “We expect silver to move moderately higher in 2018 and 2019 based on strong industrial demand and limited supply,” said James Steel, chief precious metals analyst at HSBC...

Outlook 2018 Global economic trends and their impact on gold

In 2017, investors added gold to their portfolios as incomes increased, uncertainty loomed, and gold’s positive price momentum continued. As 2018 begins we explore four key market trends and their implications for gold: • synchronised global economic growth • shrinking central bank balance sheets and rising rates • frothy asset prices • market transparency, efficiency, and access. We believe that these trends will support demand and maintain gold’s relevance as a strategic asset...

India’s Largest Gold Market at a Risk of Shifting Base

Gold traders in Mumbai's Kalbadevi and Zaveri Bazaar are fiercely opposing the Maharashtra government's decision to move the gold factories out of Mumbai. The decision announced by Maharashtra Chief Minister Devendra Fadnavis comes days after a massive fire ravaged Mumbai’s posh Kamala Mills area. There are about 40,000 small gold-bearing units in this market, operating in narrow streets. The factories have complaints of infringement of fire rules against them...

Silver Prices Keep Rallying, Here's Our Next Target

Just three days ago, the widely followed U.S. Dollar Index (DXY) was trading at 92.5. Today, it's already 200 basis points, or more than 2%, lower. The dollar has now clearly broken down like I've been saying we should expect. That, combined with overly negative sentiment, a strong seasonal bias, and a return to a bull market, have silver trending higher. In the immediate term, silver prices today are down 1.4%, to $17.20, but don't expect this dip to last. However, silver prices are still up roughly 9.2% since mid-December...

SHARPS PIXLEY : Silver Forecast 2018

If silver was a dog it would be a labrador. Quiet, obedient, submissive even ... until its not. That is to say it follows patiently behind gold on a leash ... and then outshines when things kick off. Much loved by the speculator community, silver surprises every now and then - much like a decent fellow with one sherry too many who becomes unexpectedly garrulous, only to suddenly retrace into the shadows to nurse a hangover. If we expect gold to notch up an 8% gain then silver should score 12%. That would give it an average price of $18.08 in 2018...

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