19th January, 2018

Friday, January 19

New Zealand is to release a report on manufacturing activity.
The UK is to report on retail sales.
Canada is to publish data on manufacturing sales and foreign securities purchases.
The U.S. is to round up the week with preliminary data on consumer sentiment.

India International Bullion Summit 2018 (IIBS 5) to be held on 15th March, 2018 at Hotel Sahara Star, Mumbai. Registration Form is now live! Click on the link  and get yourself  registered today.

Daily Gold Market Report

Gold begins positively – Analysis - 19-01-2018
Gold price opens today's trading with calm bullish bias after testing the EMA50 yesterday's evening, reinforcing the expectations of continuing the main bullish trend, supported by stochastic positivity that appears on the four hours' time frame, waiting to head towards our next target at 1357.53. Holding above 1321.49 is important to continue the expected rise, as breaking it will push the price to visit 1299.20 areas initially before any new positive attempt. Expected trading range for today is between 1320.00 support and 1345.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver within tight track – Analysis - 19-01-2018
Silver price continues to fluctuate around 17.00 level, while stochastic attempts to gather the positive momentum on the daily time frame. In general, the bullish trend scenario will remain active for the upcoming period as long as 16.55 level remains intact, reminding you that our positive targets begin at 17.43 and extend to 18.30 after breaching the previous level. Expected trading range for today is between 16.85 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).

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These Factors Will Support Silver Prices In 2018 - Silver Institute

(Kitco News) - While investors can expect to see volatility in silver prices through 2018, the market has plenty of room to move higher due to growing demand and shrinking supply, according to the Silver Institute.

Gold up on weaker dollar, but heads for first weekly loss in six

(Reuters) - Gold prices edged up on Friday, supported by a weaker dollar amid worries about a possible U.S. government shutdown, but the precious metal was still on track for its first weekly drop in six weeks. Spot gold was up 0.3 percent at $1,331.10 an ounce by 0324 GMT. Gold on Thursday touched its weakest level since Jan. 12 at $1,323.70, having fallen from recent four-month highs.

Gold futures down at Rs. 29,571 per 10 gm

Global gold prices tread lower as dollar gains on stronger US data

Gold retailers hopeful of tax relief ahead of Budget

Gold, Silver Prices Pull Back On Profit Taking

(Kitco News) - Gold and silver prices were ending the U.S. day session lower Thursday, on some normal profit-taking pressure after both markets earlier this week hit multi-month highs. February Comex gold was last down $10.10 an ounce at $1,329.10. March Comex silver was last down $0.171 at $16.995 an ounce. The precious metals did not show much reaction to growing concerns in the marketplace regarding a potential U.S. government shutdown starting this weekend. U.S. lawmakers cannot agree on a budget. This worry has limited buying interest in U.S. equities. An actual government shutdown would likely be supportive for the safe-haven gold market.

Bitcoin ABANDONED? Traders rush to sell off cryptocurrencies for GOLD as prices drop

Sharps Pixley, a subsidiary of Europe’s largest precious metal coin and bar outlet, witnessed a large amount of people calling trying to exchange their bitcoin with gold. Ross Norman, director at Sharps Pixley, explained customers as young as 25 come in looking to trade bitcoins – which they accumulated when the price was below $1 – with the tangible metal. The company does not take possession of bitcoin, but instead buys via an intermediary.

Condor Gold hopes to soon kick off construction at Nicaragua project

Nicaragua-focused Condor Gold (LON:CNR) (TSX:COG) expects to gain all the necessary permits for its 100%-owned La India Project in the first half of the year, chief executive Mark Child said. The company, which just this week started trading in the Toronto Stock Exchange, knows that acquiring the pending licences would not only represent a significant milestone, but it would also materially de-risk its promising project.

'Refreshed Gold Bulls' Drive Commodity ETFs - Bloomberg Intelligence

(Kitco News) - Commodity exchange-traded funds (ETFs) inflows point to an excitement in the gold market, according to Bloomberg Intelligence commodity strategist Mike McGlone. “Dominated by precious metals, inflows indicate a gold market that continues to gain favor despite rapidly increasing financial assets,” McGlone said in a note published on Thursday.

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.

Geopacific strikes gold

Geopacific Resources this week announced the discovery of new gold deposits within its Kou Sa project, located in prospect area 181 in Preah Vihear province. The 2,320-metre exploration diamond drilling yielded intercepts of 11.5 metres, graded at 3.14 grams/tonne, for gold, and 14 metres at 109.48 grams/tonne for silver.

BUDGET 2018: Waiting for an announcement of Gold Board, says Gitanjali’s Agarwal

NITI Aayog Committee has made recommendation to the Department of Economic Affairs to bring the import duty on gold to zero from the current 10 percent. The committee has made a very comprehensive report of 250 pages with regards to sector. The committee is also said to have recommended reducing the GST on gold from 3 to 1 percent.

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