19th March, 2018

Monday, March 19

Finance ministers and central bank governors from the world’s twenty largest economies are due to meet in Buenos Aires.

Daily Gold Market Report

Gold breaks the support – Analysis - 19-03-2018
Gold price confirmed breaking 1316.48 level after ending last Friday’s trading below it, which pushes the price to decline in the upcoming sessions, as the price moves inside th bearish channel that appears on the chart, which we believe that it will push trading to visit 50% Fibonacci correction level initially at 1301.20. Therefore, the bearish bias will be suggested for today, supported by the EMA50, noting that breaching 1316.48 followed by 1325.00 levels will stop the expected decline and lead the price to return to the main bullish trend again. Expected trading range for today is between 1290.00 support and 1320.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver heads to decline – Analysis - 19-03-2018
Silver price broke 16.35 level clearly and settled below it, which activates the bearish trend scenario on the intraday basis, targeting visiting 15.49 level mainly. Therefore, we expect witnessing more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 16.56 will stop the current negative pressure and push the price to achieve gains that start at 17.43. Expected trading range for today is between 16.00 support and 16.40 resistance. Expected trend for today: Bearish

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Proposal for Photocard for Hallmarked Jewellery

Silver futures fall 0.21% on overseas cues

Silver prices fell 0.21 per cent to Rs 38,277 a kg in futures trade today as speculators cut positions amid a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 81, or 0.21 per cent, to Rs 38,277 a kg in business turnover of 131 lots. Analysts said cutting down of positions by participants in line with a weak trend overseas led to the fall in futures.

Gold Rate Today: Gold, silver trade weak on global cues

Gold and silver were trading lower in morning trade on Monday following subdued demand of precious metals from jewellers, industries and retailers amid hopes of hike in interest rates by the US Fed this week. MCX Gold futures were down 0.17 per cent at Rs 30,172 per 10 gram at around 10.55 am (IST), while MCX Silver futures were down 0.25 per cent at Rs 38,263 at around the same time.

15th-Century Pot of Gold (and Silver) Found in the Netherlands

While digging in Hoef en Haag, a town in central Netherlands, waterworks employees recently unearthed a remarkable archaeological relic: a centuries-old pot filled with hundreds of gold and silver coins. There were no rainbows or leprechauns in sight, but as Janene Pieters reports for the NL Times, experts are nevertheless excited by the discovery, which they hope will shed light on a little-known period in the area’s history.

Gold futures slip 0.16% on global cues

Amid weak cues from overseas markets, gold prices moved down by 0.16 per cent to Rs 30,175 per 10 grams in futures trade today after participants trimmed positions. At the Multi Commodity Exchange, gold for delivery in April month fell by Rs 49, or 0.16 per cent, to Rs 30,175 per ten grams in business turnover of 66 lots.

PRECIOUS-Gold prices edge lower on firmer dollar ahead of Fed meet

March 19 (Reuters) - Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week's policy meeting.FUNDAMENTALS * Spot gold fell 0.2 percent to $1,310.31 per ounce at 0123 GMT. The price touched $1,309.31, the lowest since March 1, in the previous session. * U.S. gold futures for April delivery fell 0.1 percent to $1,310.4 per ounce. * The dollar index against a basket of currencies was up 0.1 percent at 90.295.

More selling in gold likely on some bounce near 30,300 where traders can short

Gold prices witnessed a volatile session on last Friday as the yellow metal opened in negative territory, though the counter gained during intraday but ended in the red after breaching strong support of 30,250. Prices on the daily charts are forming a symmetric triangle which is a neutral pattern for medium term and could generate either side breakout. For intraday we can expect more selling on some bounce near 30,300 where traders can short for the session.

The Many Uses Of Gold

At U.S. Global Investors we carefully monitor the price of gold. We pay close attention to the macro drivers moving the yellow metal, like government policy and cultural affinity spurring demand globally. We also monitor the micro drivers, like company management and quant factors that make one gold stock superior to the next.

Jet Airways passenger caught with illegal gold bars stashed in rectum

Mangaluru: Four gold bars worth Rs 1.22 crore were recovered from the toilet of an aircraft that arrived from Dubai, Customs sources said on Sunday. The gold bars weighing 1 kilogram (kg) each were recovered from the toilet of a Jet Airways flight that arrived in Mangaluru at 7.55 am. The gold bars were stashed in the toilet and left there to be picked up by a local mule during its domestic run to Mumbai, the sources said.

Gold price in India today: 24 karat yellow metal trades below Rs 32,000-mark

With global gold prices extending losses for fourth consecutive day today, Indian yellow metal gave away its gains, as 24 karat and 22 karat were trading below Rs 32,000-mark and Rs 30,000-level respectively. Global gold prices saw a decline during the trading session, as investors expect the US Federal Reserve to raise interest rates this week. All the grams in 24 karat and 22 karat gold in India, have seen negative trend.

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