21st November, 2017

Tuesday, November 21

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.
The UK is to release data on public sector borrowing.
Later in the day, Bank of England Governor Mark Carney is to appear before the Treasury Select Committee, in London.
Canada is to release data on wholesale sales.
The U.S. is to publish a report on existing home sales.
Fed Chair Janet Yellen is to deliver remarks at a panel discussion in New York.

Daily Gold Market Report

Gold suffers strong losses – Analysis - 21-11-2017
Gold price settles around 1280.00 after the decline that it witnessed yesterday's evening, but we notice that the price still within the minor bullish channel that appears on the chart, while stochastic provides clear positive overlapping signal on the four hours' time frame, which forms positive motive that we expect to push the price to resume the bullish trend in the upcoming sessions, targeting testing 1299.20 level again. Therefore, we will continue to suggest the overall bullish trend, and the price needs to breach 1281.17 to ease the mission of extending the bullish wave towards the above mentioned target, noting that breaking 1272.00 will push the price to test the most important support to the short term trades at 1263.15 before detecting the next trend destiny clearly. Expected trading range for today is between 1272.00 support and 1295.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver returns to fluctuate – Analysis - 21-11-2017
Silver price returns to fluctuate around the EMA50, after testing 17.43 level in the previous sessions, and it needs to get strong positive motive that supports the chances of breaching the mentioned level to confirm extending the bullish wave towards 18.30 that represents our next main target. In general, we will keep our positive overview for the upcoming period unless breaking 16.56 level and holding below it, as breaking this level will push the price to visit 15.49 areas before any new attempt to rise. Expected trading range for today is between 16.75 support and 17.20 resistance. Expected trend for today: Bullish

IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).

For Admissions, contact: Kejal 022 49717444

Proposal for Photocard for Hallmarked Jewellery

Gold, Silver Prices Hammered By Bearish Outside Market Forces

(Kitco News) - Gold and silver prices ended the U.S. day session sharply lower Monday. Friday’s good gains in both metals that pushed their prices to four-week highs were all taken back and then some today. The pounding was mainly due to bearish outside markets that saw a higher U.S. dollar index, a firmer U.S. stock market and lower crude oil prices. December Comex gold was last down $20.70 an ounce at $1,274.80. December Comex silver was last down $0.513 at $16.86 an ounce. 

Gold Rate Today: Gold, silver edge up in morning trade

Gold and silver were trading higher in morning trade on Tuesday ahead of the release of minutes of the US Federal Reserve's previous meeting that could give hint on the pace of the central bank’s interest rate hikes. Demand of precious metals from jewellers, industries and retailers further lifted gold and silver in the domestic markets.

Gold becomes shoppers' new digital way to pay after app launch

Gold joins bitcoin in the digital payment space Gold joins bitcoin in digital payment space 6 Hours Ago | 01:01 An electronic payment app that allows people to pay for goods and services in gold has been launched by fintech firm Glint. Released Monday, the app — also called Glint — allows users to link a Mastercard debit card to their phone, which then lets them buy physical gold bullion that is stored in a Swiss vault.

Jewellers hail revision of GST rule for gold savings schemes

KOLKATA: Jewellers have hailed the GST Council’s decision to allow customers to pay 3% goods and services tax (GST) on monthly gold savings deposit schemes only when they redeem their investments instead of paying the levy on each instalment. The chairman of the All India Gems & Jewellery Trade Federation, Nitin Khandelwal, told ET that jewellers were finding it difficult to convince their customers in small towns and villages in particular that the advance amount paid by them was subject to 3% GST.

Gold futures rise to Rs. 29,560 on firm global cues

NEW DELHI, NOV 21: Gold prices were up by Rs. 48 to Rs. 29,560 per 10 grams at the futures trade as speculators raised their bets due to a firm global trend. At the Multi Commodity Exchange, gold for delivery in far-month February was trading higher by Rs. 48 or 0.16 per cent to Rs. 29,560 per 10 grams in a business turnover of five lots. The yellow metal for delivery in December gained Rs. 42 or 0.14 per cent to Rs. 29,412 per 10 grams in 145 lots.

PRECIOUS-Gold slips on stronger dollar, but still near one-month high

Nov 20 (Reuters) - Gold slipped on Monday as the dollar rose, but prices still held near one-month highs hit last week as political and economic uncertainty in the United States dominated sentiment. Spot gold was down 0.2 percent at $1,292.1 an ounce at 1241 GMT off Friday's peak of $1,297, its strongest since Oct. 16. U.S. gold futures were down 0.3 percent to $1,292.20 an ounce.

'New normal' of geopolitical risk likely to boost gold prices in coming years, Citi forecasts

Jeffrey Coolidge | Getty Images Gold prices are likely to be buoyed by the "new normal" of elevated geopolitical tensions over the coming years, Citi analysts said Monday. The geopolitical case for gold investment has been emboldened in recent months and it seems as strong today than at any point over the last four decades, Citi analysts said. As a result, gold prices were forecast to "push north of $1,400 per ounce for sustained periods" through to 2020.

IBJA members can contact our Delhi regional office for any queries / suggestions regarding IBJA in the North region.
Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
Contact Person: Mr. K.P Singh on 9540230600.

IBJA members can contact our Gujarat regional office for any queries / suggestions regarding IBJA in the west region.
Address : Gems & Jewellery Trade Council of India "GJTCI" Gem Place, 3rd Floor, Deepkala House, C. G. Road, Ahemdabad - 380 009, Gujarat.
Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

India Bullion and Jewellers Association Ltd.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.

Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459

©2015 Company name. All rights reserved.

www.ibja.co | www.iibsummit.in | www.ibjawards.in | www.ibjafashionshow.in | info@ibja.in