18th August, 2017

Friday, August 18

Canada is to report on inflation and retail sales.
The U.S. is to round up the week with data on consumer sentiment.

Daily Gold Market Report

Gold needs the positive momentum – Analysis - 18-08-2017
Gold price shows sideways trading to settle near our first waited target at 1295.37, and the price still organized inside the intraday bullish channel that appears on chart, as the EMA50 keeps providing the positive support to the price to protect trading inside the mentioned channel, while stochastic begins the attempts to get rid of the negative momentum. Therefore, these factors encourage us to keep our bullish overview on the intraday and short term basis, waiting to breach 1295.37 level to confirm opening the way to head towards 1312.00 followed by 1347.00 levels, taking into consideration that holding above 1254.56 represents the most important condition to achieve the suggested targets. Expected trading range for today is between 1275.00 support and 1300.00 resistance. Expected trend for today: Bullish

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Gold steady, buoyed by geopolitical worries

BENGALURU: Gold was mostly steady early on Friday amid weaker Asian stocks, with some investors gravitating towards safe-haven assets on political uncertainty in the United States and after a van mowed through crowds in Barcelona, killing at least 13 people.

Duty-free imports put pressure on gold prices

Gold is being sold in the local markets at a discount of $10 per troy ounce as rising duty-free imports of gold coins and medallions from South Korea under the free trade agreement have put pressure on prices. Bullion movement has slowed amid confusion in the market on whether the government will impose a safeguard duty on gold imports from South Korea.

Gold rises in morning trade, silver down

Cochin Customs unearths gold export fraud

Gold surges to 30,050; silver surpasses 40K-level again

NEW DELHI, AUG 17: A strong global trend and intensifying local demand turned out to be a potent mix for gold prices that surged Rs. 300 to Rs. 30,050 per 10 grams today. Silver surpassed the Rs. 40,000 level again with a sharp jump of Rs. 900 to Rs. 40,200 per kg, with industrial units and coin makers stepping up demand. Minutes from the Federal Reserve’s July meeting showed that policymakers voted unanimously to keep the US interest rates unchanged. This made investors pump in more money into gold asset class that is considered as a safe bet for hedging offering greater returns.

Surge in Gold imports: Government notifies rules for safeguard probes against South Korea

NEW DELHI: The government has come out with a set of procedures to start investigations aimed at imposing safeguard duty against import from South Korea, with which India has a free trade agreement in place. The move comes against the backdrop of surge in gold imports from South Korea. India and South Korea implemented a comprehensive free trade agreement (FTA) in January 2010.

Expect Gold to trade sideways: Sushil Finance

Gold rose for a second day on Thursday after Federal Reserve officials hinted that U. S. interest rates could rise more slowly than expected, while palladium was lifted to a fresh 16 - year high by strong industrial metals markets. A cautious Dallas Fed President Robert Kaplan said on Thursday he would need to see evidence that prices will rise to a 2 - percent target in the medium term to support another interest - rate hike.

Buy Comex gold at $1,270/oz

August 17, 2017: Comex gold futures rose for a second consecutive day on Thursday after Federal Reserve officials hinted that US interest rates may rise more slowly than expected, while palladium hit a new 16-year high, supported by strong industrial metals markets. The minutes of the Fed's July 25-26 policy meeting showed some policymakers wished to halt further rate increases until it is clear that the trend of soft inflation is transitory.

Gold Up In Wake Of Dovish Fed, ECB Minutes

(Kitco News) - Gold prices are posting good gains in early U.S. trading Thursday. The yellow metal bulls are encouraged by the recent releases of minutes from the two major central banks of the world (Federal Reserve and European Central Bank) that suggest their monetary policies will remain very accommodative. December Comex gold was last up $8.60 an ounce at $1,291.50. September Comex silver was last up $0.145 at $17.09 an ounce.

Gold prices rebound on buying frenzy, silver zooms

Mumbai: Gold staged an impressive rebound after a two-day sell-off at the domestic bullion hub in Mumbai on the back of heavy demand from jewellery traders and investment buying amid bullish overseas undertone. This is the near one-week closing high for the shiny metal. Strong global sentiment driven by weak dollar value along with attractive low level buying interest mainly helped gold prices to recover, a bullion trader said.

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.

Gold tops Rs 30,000 on demand push, silver above Rs 40,000

A strong global trend and intensifying local demand turned out to be a potent mix for gold prices that surged Rs 300 to Rs 30,050 per 10 grams on Thursday. Silver surpassed the Rs 40,000 level again with a sharp jump of Rs 900 at Rs 40,200 per kg, with industrial units and coin makers stepping up demand.

Silver weakens in futures trade, down by Rs 142

New Delhi, Aug 18 Silver prices fell by Rs 142 to Rs 39,580 per kg in futures trade today as speculators cut down their bets to book profits amid weak global cues. Silver for delivery in December was down by Rs 142 or 0.36 per cent to Rs 39,580 per kg in futures trade at the MULTI COMMODITY EXCHANGE. It clocked a business volume of 14 lots. The white metal for delivery in September too fell by Rs 82 to trade at Rs 39,016 per kg in a business turnover of 14 lots. Market analysts said profit-booking at prevailing levels and fresh losses in the white metal overseas mainly pulled down silver prices at futures trade here. In the international market, silver traded 0.26 per cent lower at USD 16.97 an ounce in singapore.

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