18th January, 2018

Daily Market Rates

India A.M. (18-01-18)

999 Gold - Rs. 30,040/-
995 Gold - Rs. 29,890/-
916 Gold - Rs. 27,517/-
750 Gold - Rs. 22,530/-
585 Gold - Rs. 17,573/-
999 Silver - Rs. 38,770/-

 

 

 

 



India P.M. (17-01-18)

999 Gold - Rs. 30,225/-
995 Gold - Rs. 30,075/-
916 Gold - Rs. 27,686/-
750 Gold - Rs. 22,669/-
585 Gold - Rs. 17,682/-
999 Silver - Rs. 39,220/-

Thursday, January 18

Australia is to publish its latest jobs report.
China is to release a string of data including data on fourth quarter economic growth, industrial production and fixed asset investment.
The U.S. is also to publish a flurry of data, including reports on building permits, housing starts, jobless claims and manufacturing activity in the Philadelphia region

Daily Gold Market Report

Gold faces negative pressure – Analysis - 18-01-2018
Gold price shows clear negative trades to approach testing the key support 1321.49, accompanied by stochastic entering the oversold areas again, while the EMA50 attempts to support the price and protect it from suffering more losses. Therefore, we believe that the chances are valid to rebound bullishly and resume the main bullish trend that its next target located at 1357.53, noting that breaking 1321.49 will push the price to visit 1299.20 areas initially before any new attempt to rise. Expected trading range for today is between 1315.00 support and 1345.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver faces solid resistance – Analysis - 18-01-2018
Silver price returns to fluctuate around 17.00 barrier after facing solid resistance at 17.43, and as we mentioned in our recent reports, the price needs to breach the mentioned resistance to open the way to extend the bullish wave towards 18.30. Until now, the bullish trend scenario still valid for the upcoming period as long as the price remains stable above 16.55, noting that the EMA50 keeps supporting the suggested bullish wave. Expected trading range for today is between 16.85 support and 17.30 resistance. Expected trend for today: Bullish

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Gold slips 0.58% on weak global cues

Gold prices fell 0.58 per cent to Rs. 29,570 per 10 grams in futures trade today as participants trimmed positions to book profits amid a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in April was trading Rs. 172, or 0.58 per cent, lower at Rs. 29,570 per 10 grams, in a business turnover of 71 lots.

Gold rally has legs on voracious China demand, bullish options

Madrid/London: Gold’s breakneck rally eased this week, but tailwinds in both physical and paper markets suggest it’s got room to run. Chinese New Year buying and option prices suggest the stars are aligning for the metal to extend its 6% gain over the past month.

Gold hits 1-week low as dollar picks up

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

PRECIOUS-Gold flat, holds near 4-month highs as dollar slips

Cryptocurrency Crash Sparks Bitcoin's Nouveau Riche to Run to Gold

Amid the wild Bitcoin ride that’s wiped more than 40 percent off the cryptocurrency’s price in a month, a pattern may be emerging: sellers are switching out of digital gold and into the real thing. Bullion dealer Sharps Pixley, a subsidiary of Europe’s largest precious metal coin and bar outlet, regularly sees trades north of a million pounds, while sales of gold coins at Frankfurt-based CoinInvest jumped fivefold as the largest digital asset collapsed after surging 1,400 percent last year, according to Director Daniel Marburger.

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.

India's gold imports up 53% to 846 tonne

India's gold imports rose 53 per cent to 846 tonnes last year on strong domestic demand and lower global prices, according to MMTC-PAMP India. The world's second largest gold consumer had imported 550 tonnes of the metal in 2016. "There has been a significant jump in the gold imports in 2017. Imports touched 846 tonnes," MMTC-PAMP India President (Marketing) Vipin Raina told PTI.

Gold Continues Its Climb to Higher Pricing

Gold pricing continues its historic climb to higher prices, gaining yet more value in today’s trading. As of 4:30 PM Eastern standard time, gold futures are trading $4.10 (+0.31%) higher at $1339. Gold continues to ride the tailwinds created from a tumbling U.S. dollar, which is currently off by over a half percent today as it broke below the major support level of 91 on the dollar index. Our technical studies indicate that there is a clear path for gold prices to challenge last year’s high at $1363 per ounce.

FED Actions Should Pressure Gold

Once again, the master manipulators, better known as the Federal Reserve, are manipulating dollars to try and keep interest rates low. They are scared to death that rates will get away from them, as they have every time. They have tried to control and keep them artificially low.

Gold keeps upmove intact, hits Rs 31,100

NEW DELHI: Gold prices made some headway advancing Rs 50 to Rs 31,100 per 10 grams today as the dollar lost some strength. Any reduced appeal of the dollar triggers investment in other asset classes, including gold. Local jewellers stayed with their buying pattern, giving weak global cues a cold shoulder. However, silver met with resistance at prevailing levels and slumped by Rs 230 to Rs 40,070 per kg. Traders said continued buying by local jewellers, driven by the ongoing wedding season, mainly kept gold prices elevated, but a weak trend overseas limited the gains. Globally, gold fell 0.34 per cent to USD 1,333.50 an ounce and silver by 0.35 per cent to USD 17.12 an ounce in Singapore.

Gold prices maintain rising streak on jewellers’ buying

New Delhi: Gold prices advanced by Rs50 to Rs31,100 per 10 grams at the bullion market on Wednesday on sustained buying by local jewellers shrugging off weak global cues. However, silver prices slipped by Rs230 to Rs40,070 per kg. Traders said continued buying by local jewellers, driven by ongoing wedding season, mainly kept gold prices higher but a weak trend overseas limited the gains. Globally, gold rate fell 0.34% to $1,333.50 an ounce and silver by 0.35% to $17.12 an ounce in Singapore.

Silver Volume Extreme as in April 2013

During yesterday’s session silver moved back and forth in a volatile manner on volume that was the highest since April 2013. There were a few volume spikes in the meantime, but none as big as what we saw yesterday. The silver market is being very loud. But are you listening? It may be hard to notice silver’s signs with all that’s happening in the USD Index and given the rally in gold stocks, but it’s definitely worth it. Let’s investigate (charts courtesy of http://stockcharts.com).


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