20th September, 2017

Daily Market Rates

India A.M. (20-09-17)

999 Gold - Rs. 29,955/-
995 Gold - Rs. 29,805/-
916 Gold - Rs. 27,439/-
750 Gold - Rs. 22,466/-
585 Gold - Rs. 17,524/-
999 Silver - Rs. 39,870/-

 

 

 

 



India P.M. (19-09-17)

999 Gold - Rs.29,840/-
995 Gold - Rs. 29,690/-
916 Gold - Rs. 27,333/-
750 Gold - Rs. 22,380/-
585 Gold - Rs. 17,456/-
999 Silver - Rs. 39,455/-

Daily Gold Market Report

Gold loses momentum – Analysis - 20-09-2017
Gold price shows slight positive attempts by today's opening to approach from the correctional bearish channel's resistance, noticing that stochastic loses its positive momentum clearly to enter the overbought areas, while the EMA50 keeps pushing negatively on the price. Therefore, these factors support the continuation of the correctional bearish trend scenario in the upcoming period, which its next target located at 1299.20, reminding you that breaking this level will extend the bearish wave to reach 1281.17 as a next main station, while breaching 1321.49 represents the key to stop the current bearish correction and return to the main bullish trend again. Expected trading range for today is between 1295.00 support and 1321.49 resistance. Expected trend for today: Bearish

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Gold range-bound ahead of Fed policy statement

Gold held to a narrow range on Wednesday, with investors in a wait-and-see mode ahead of the outcome of a two-day US Federal Reserve meeting that began on Tuesday. Spot gold rose 0.1 per cent to $1,312.54 an ounce by 0308 GMT. US gold futures for December delivery were up 0.4 per cent at $1,316 an ounce. “Trump's comments overnight in regards to North Korea have certainly added a bid to the precious complex but all in all very quiet ahead of the (Fed statement),” a Sydney-based trader said, adding that the dollar was providing some support...

Silver futures jump to Rs. 40,820 per kg

Silver prices rose Rs. 199 to trade at Rs. 40,820 per kg at the futures trade due to a firm trend in global markets. Silver for delivery in March next year was up by Rs. 199 or 0.49 per cent at Rs. 40,820 per kg at the Multi Commodity Exchange in a business turnover of 17 lots. The white metal for delivery in December spurted Rs. 183 or 0.46 per cent to Rs. 40,245 per kg in 945 lots...

Diwali, Lord Rama, and the Return of Gold from Exile

Diwali is one of the biggest festivals for Hindus, Sikhs, and Jains. It is a lavish celebration of the victory of light over darkness with its gleaming candles, luxurious works of art, and opulent feasts. Diwali is also characterized by gift giving. Buying and gifting gold is considered auspicious during Diwali. Given the nature of the holiday and the number of people who celebrate it, according to CNBC, the past few years have seen a tendency for the gold price to rise around Diwali. Last year during Diwali, Mihir Kapadia, founder & CEO of Sun Global Investments..

Gold Investment 'Roars' in Japan on N.Korea Tension

Gold Price Outlook 'Hazy' As Fed And Geopolitics Dominate - OCBC

This 'Stealth' Bull Market Could See Triple-Digit Gains

The investing public hasn't been paying attention this year... Most folks have been too enthralled with stories about President Trump and bitcoin to notice what's going on. But gold has entered a "stealth" bull market. The metal is soaring in 2017. And it's now on pace to outperform stocks for the first time since 2011. Our colleague Justin Brill touched on this recently in our Weekend Edition...

Gold: remains subdued below channel support, before possible bearish break to key 38.2% Fibo

Gold is trading at 1,309.18/42 at the time of writing, +0.15%, although rather subdued on the Us session. Gold remains sidelined as a trade-off between stocks and the non-yielding safe haven continues with investors who prefer to park their idle capital in assets that are more likely to return a yield in the absence of renewed geopolitical risk-off events...

Korea objects to curbs on gold imports

South Korea has objected to India’s move to restrict all forms of gold imports from the country, saying it is not compliant with the norms and that India should have discussed the issue first instead of unilaterally taking the decision. The objection comes ahead of a highlevel meeting of the trade ministers of the two countries in Seoul later this week to review the India-South Korea free trade agreement...

Don’t Be Fooled, Central Banks Are Buying Gold - Tocqueville’s Hathaway

Gold’s role in the monetary system should not be questioned, this according to Tocqueville’s John Hathaway, who says even central bankers view it as a currency. ‘You see central banks accumulation, they bought more gold in the last couple of years than they bought U.S. treasuries so they think it's money,’ he told Kitco News at the Precious Metals Summit in Beaver Creek, Colorado...

Turkey To Make Use Of 2,200 Tons Of Gold Stashed 'Under Mattresses'

The Turkish people have reportedly stashed gold "under mattresses" and the government wants a piece. Officials want to make use of the bullion by issuing “gold bonds and the gold-based rent certificates,” the Deputy Prime Minister Mehmet Simsek said on Sunday. The bonds could attract as much as 300 billion Turkish Liras worth of gold, which converts to about US$85.9 billion...

VAT IN UAE: All that glitters is... taxable (will that apply in the UAE?)

The UAE's gems and jewellery sector plays a massive role in the country's economy, with over 20 per cent of the world volume of sales of precious metals accounted for by Dubai alone. Official statistics show that the gold trade through the UAE in particular was valued at $31.6 billion (Dh116.1 billion) at the end of the third quarter of 2016, making it the second-biggest contributor to Dubai's non-oil foreign trade. According to the World Gold Council (WGC), India is one of the largest gold jewellery exporters in the world. In FY 2015-16, Indian gold jewellery shipments came to $8.6 billion, with around half delivered to India's largest jewellery export destination, the UAE...

The Most Crowded Trades Today: Assessing Gold’s Benefit

According to a regular survey of fund managers at Bank of America Merrill Lynch, fund cash levels are above average but at the highest incidence of downside hedging in 14 months. The average cash balance is 4.8%, which is higher than the ten-year average cash level of 4.5%. Cash levels in the economy are higher when investors are skeptical about the outlook for stocks and bonds...

Silver arrives at key support ahead of BoJ, Fed meetings

Gold and silver have been largely out of favour since the end of the first week of September. The dollar selling paused and US equity indices hit repeated new all-time highs despite raised geopolitical tensions stemming from North Korea. But precious metals could be on the verge of a comeback ahead of key central bank decisions from the Bank of Japan and US Federal Reserve, and as they test key technical levels...


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