19th July, 2018

Thursday, July 19

Australia is to publish its latest employment report.
The UK is to release data on retail sales.
The U.S. is to publish reports on jobless claims and manufacturing activity in the Philadelphia region.

Daily Gold Market Report

Gold price around the support – Analysis - 19-07-2018
Gold price fluctuates around the bearish channel’s support line that appears on the chart, and the EMA50 keeps forming the negative pressure against the intraday and short term trades, to continue suggesting the bearish trend in the upcoming period, depending on the price stability below 1243.00, noting that we are waiting to visit 1204.80 level that represents our next main target. Expected trading range for today is between 1205.00 support and 1240.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver price attempts to confirm the break – Analysis - 19-07-2018
Silver price hovers around 15.49 level, and it needs to get a daily close below this level to confirm the continuation of the bearish trend, reminding you that we are waiting to target 15.15 followed by 14.77 levels as next main stations. In general, we will continue to suggest the bearish trend in the upcoming period unless breaching 15.80 level and holding above it. Expected trading range for today is between 15.20 support and 15.70 resistance. Expected trend for today: Bearish

IBJA announces launch of "Indian Jewellers Week" (IJW) a dream project for manufacturers and wholesalers across India with its first edition at Zaveri Bazaar, Mumbai from 1st to 7th October 2018. IJW ,
the business at your doorstep is organised by Glambox.
Banaye Aasan Jewellery Vyapar

XAUUSD Intraday Analysis

XAUUSD (1228.01): Gold prices were seen falling to a fresh 12-month low on Tuesday. Price action is currently consolidating after slipping to lows of 1226.14. Further declines could push the price of the precious metal down to 1219 level which is another major support level that could be tested. To the upside, any gains are likely to be limited to the 1242 handle.

Gold settles with a slight gain, avoids correction territory

Gold prices settled slightly higher on Wednesday, ending a three-session streak of declines as a benchmark dollar index eased back toward session lows, allowing the yellow metal to avoid a finish in correction territory.

What drives the price of gold

Gold is a very popular asset in India. People consider buying the yellow metal for making jewellery or investment. Gold prices on Wednesday tumbled by Rs250 to trade at over a five-month low of Rs30,800 per 10 gm amid weakening global trends and a considerable fall in demand from local jewellers, PTI reported. A look at some of the factors that impact the gold price.

Gold prices slump, fall to 5-month low

New Delhi: Gold prices today plunged by Rs 250 to trade at an over five-month low of Rs 30,800 per 10 grams amid weak global cues and slow demand from local jewellers, reported PTI. Globally, gold rate extended its downtrend, sinking to the lowest in a year on a buoyant dollar and falling oil prices, but some analysts said bullion is close to bottoming out. Global gold prices have shed over 10% since touching a peak of $1,365.23 an ounce in mid-April, weighed down by a stronger dollar, rising US interest rates and trade tensions.

The case for a gold play as the metal loses its shine

The Dow is trying to make it five up sessions in a row, as it revels in Jay Powell’s dulcet tones and encouraging earnings reports, while shrugging off recent outrages. Gold GCQ8, -0.77% has been heading in the other direction, slumping to fresh one-year lows and dismaying its fans. Buying it now might only make sense if you want to be a loser, says MarketWatch’s Mark Hulbert.

Gold prices to trade sideways today: Angel Commodities

Spot gold prices slipped to six month low in yesterday's session pressurized by a stronger DX citing higher US interest rate prospects. Also, weak Chinese GDP coupled with falling imports from India indicated sluggish demand prospects for the yellow metal. India’s gold imports plunged 25 percent in the first quarter as gold prices increased citing sharp Rupee depreciation.

Gold futures up at Rs 30,040; silver declines by Rs 48 per kg

Gold futures were up by 0.09 per cent at Rs 30,040 per 10 grams as traders raised their bets even as the precious metal weakened overseas. At the Multi Commodity Exchange, gold for delivery in October rose Rs 28 or 0.09 per cent to Rs 30,040 per 10 grams in a business turnover of 12 lots. Similarly, the metal for delivery in August traded higher by Rs 20 or 0.07 per cent to Rs 29,786 per 10 grams in 172 lots.

Gold Continues To Be Pressured By Outside Forces

Although gold futures are trading slightly higher, today’s trading activity is highlighted by the fact that gold traded to a lower low and a lower high than yesterday. Currently, gold futures (August Comex contract) are trading at $1,227.80, which is a net gain of $0.50 on the day. It is the intraday low that is most noteworthy. Traders took the precious yellow metal to $1,220.90, a new low for the year and a price point that traders have not seen since July 2017. Today’s selling pressure was once again dominated by dollar strength. In fact, it was earlier dollar strength which pressured gold pricing to this new low for 2018.

Both equities, gold have risks; focus on capital preservation: Rahul Agarwal

The BSE Sensex hit a new high of 36373.44 on Wednesday before sliding below its previous day’s close, while Gold hit a 5-month low of Rs 30,800 per 10 gram in the domestic market. In the international market, gold prices have been under pressure due to rising global concerns, including issues on Brexit and strengthening dollar.

Gold Investors Taking Advantage of 1-Year Lows As Buying Picks Up

Gold prices may have further room to fall but it appears that physical sellers are currently exhausted, according to sales data from Kitco Metals. Peter Hug, global trading director at Kitco Metals, said that selling in the physical marketplace stopped about two weeks ago and he is now starting to see buyers jump back into the market as gold prices hover near their lowest level in a year

Gold Liquidation Accelerates

Gold Technical Analysis: Gold bulls reversing up from the new 2018 low

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Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
Contact Person: Mr. K.P Singh on 9540230600.

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