17th November, 2017

Friday, November 17

ECB President Mario Draghi is to speak in Frankfurt.
Canada is to report on inflation.
The U.S. is to wrap up the week with data on building permits and housing starts.

Daily Gold Market Report

Gold surpasses the resistance – Analysis - 17-11-2017
Gold price opens today's trading positively to breach 1281.17 level and closes the last four hours' candlestick above it, which supports the expectations of continuing the bullish trend in the upcoming period, paving the way to head towards 1299.20 as a next main station, noting that breaching this level will push the price towards 1321.50. Therefore, the bullish trend will remain valid for today supported by the EMA50, conditioned by the price stability above 1271.30. Expected trading range for today is between 1270.00 support and 1295.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver needs positive momentum – Analysis - 17-11-2017
The tight range keeps dominating Silver price trading, which keeps its stability above the key support 16.56, to keep the bullish trend scenario valid as it is without any change, and the price needs strong positive motive to support the chances of breaching 17.43 to push trades towards 18.30 that represents our next main target. Expected trading range for today is between 17.00 support and 17.30 resistance. Expected trend for today: Bullish

IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).

For Admissions, contact: Kejal 022 49717444

Proposal for Photocard for Hallmarked Jewellery

Mumbai snatches bullion hub tag from Ahmedabad

Kolkata: Mumbai has taken the sheen off Ahmedabad as the preferred centre for bullion trade in the country after the introduction of the goods and services tax (GST) removed the octroi that traders had to pay on gold and silver shipments to the Maharashtra capital. In the pre-GST era, there was 0.1 per cent octroi on gold and 2 per cent octroi on silver in Maharashtra which have now been subsumed in the GST, which was rolled out on July 1.

Gold Rate Today: Gold, silver down in early trade

Gold and silver were trading in the red in morning trade on Friday on account of subdued demand of precious metals from jewellers, industries and retailers amid firm equity markets.MCX Gold futures were down 0.35 per cent, or Rs 104, at Rs 29,399 per 10 gram aroudn 10.35 am (IST), while MCX Silver futures were down 0.48 per cent, or Rs 191, at Rs 39,608 per 1 kg at around the same time.

Two-Thirds Of The Top Primary Silver Miners Suffered Production Decline

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%.

Gold on track for second straight weekly gain

BENGALURU, NOV 17: Gold prices rose on Friday as the dollar weakened after a report that investigators looking into possible Russian interference in the 2016 US presidential election had subpoenaed President Donald Trump's election campaign for documents. Special Counsel Robert Mueller's team had issued the subpoena last month for documents containing specified Russian keywords from more than a dozen officials, the Wall Street Journal reported.

PRECIOUS-Gold prices inch up, head for second weekly gain

Nov 17 (Reuters) - Gold prices stayed on track for a second straight weekly gain early on Friday as they crept up on a weaker dollar, although trading remained in a tight range amid expectations of a U.S. interest rate hike next month. FUNDAMENTALS * Spot gold had climbed 0.1 percent to $1,279.21 per ounce by 0104 GMT. It is up about 0.3 percent for the week. * U.S. gold futures for December delivery edged up 0.1 percent to $1,279.21. * The dollar index , which tracks the U.S. currency against a basket of six major rivals, slipped 0.2 percent.

Gujarat Poll Blues: Muted gold demand this wedding season

Kolkata: Demand for gold is set to remain subdued this wedding season as restrictions on cash movement in Gujarat due to the ensuing assembly election and the impact of GST have slowed down consumption of the yellow metal. Traders and jewellers said they do not expect purchases to surpass last year’s offtake.

Gold Market Is Stuck So These Are The Key Levels To Watch

(Kitco News) - The gold market continues to trade on a knife’s edge as technical analysts see potential for the market to move in either direction, depending on which side can garner the most momentum. Gold prices have been trading in a narrow range between its 100-day and 200-day moving averages for nearly four weeks, which means analysts are keeping a close eye on a few levels. December gold futures last traded at $1,279.70 an ounce, up 0.16% on the day.

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.
Contact Person: Mr. K.P Singh on 9540230600.

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

India Bullion and Jewellers Association Ltd.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.

Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459

©2015 Company name. All rights reserved.

www.ibja.co | www.iibsummit.in | www.ibjawards.in | www.ibjafashionshow.in | info@ibja.in