21st March, 2018

Wednesday, March 21

Financial markets in Japan will be closed for a holiday.
The UK is to publish its latest employment report.
The U.S. is to report on existing home sales.
The Federal Reserve is to announce its latest monetary policy decision and publish its rate statement, which outlines economic conditions and the factors affecting the decision.

Daily Gold Market Report

Gold tests the resistance – Analysis - 21-03-2018
Gold price shows some bullish bias to test the first initial resistance at 1316.48, as the price is affected by stochastic positivity, noticing that the EMA50 meets the mentioned resistance to add more strength to it, which keeps the bearish trend scenario valid until now. Therefore, we will keep our bearish overview unless breaching 1316.48 followed by 1322.00 levels and hold above them, reminding you that our next main target is located at 1301.20. Expected trading range for today is between 1290.00 support and 1325.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver declines calmly – Analysis - 21-03-2018
Silver price provides calm negative trades in attempt to move away from the broken support, and the price falls under the negative pressure formed by the EMA50, which keeps the bearish trend scenario valid until now, reminding you that we are waiting to test 15.49 level mainly, while breaching 16.56 represents the first key to regain the main bullish trend again. Expected trading range for today is between 16.00 support and 16.40 resistance. Expected trend for today: Bearish

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Gold, Silver Prices Sink On Rally in Greenback, Bearish Technicals

(Kitco News) - Gold and silver prices were moderately lower in early afternoon U.S. trading Tuesday, pressured by a stronger U.S. dollar index on this day and some chart-based selling. Gold hit a three-week low, while silver prices notched a three-month low. April Comex gold futures were last down $7.10 an ounce at $1,310.70. May Comex silver was last down $0.165 at $16.16 an ounce.The marketplace is awaiting the major economic data point of the week, on Wednesday afternoon. The Federal Reserve’s Open Market Committee meeting (FOMC) that began Tuesday morning ends Wednesday afternoon with a statement. Federal Reserve Chairman Jerome Powell also holds his first press conference after the meeting. Most expect the Fed to slightly raise U.S. interest rates at this week’s meeting.

GLD and SLV Grow, Coin Dealers 'Awash' with Metal as Gold and Silver Fall Ahead of the Fed

GOLD PRICES rallied for the second time in two sessions from a dip below $1310 per ounce in London on Tuesday, holding onto a slight gain for 2018 to date against the Dollar ahead of tomorrow's US Federal Reserve decision on interest rates, widely expected to bring the first of four quarter-point hikes this year. World stock markets steadied as Facebook (Nasda:FB) held onto yesterday's 12% plunge as founder and CEO Mark Zuckerberg was summoned by the UK Parliament's inquiry into 'Fake News' in relation to data consultants Cambridge Analytica's apparent abuse of FB's user privacy.

Silver futures up at Rs 38,297 per kg

Silver prices rose Rs 81 to Rs 38,297 per kg at the futures trade as speculators built up positions owing to a firm global trend. At the Multi Commodity Exchange, silver for delivery in May was trading higher by Rs 81 or 0.21 per cent at Rs 38,297 per kg in a business turnover of 556 lots. Also, the white metal for delivery in July was up Rs 69 or 0.18 per cent at Rs 38,809 per kg in five lots.

Silver Underperforms Gold in 2018: Can It Correct Its Course?

Year-to-date (or YTD), silver has underperformed gold. As of March 16, 2018, the SPDR Gold Shares ETF (GLD), which tracks gold prices, had risen 0.8% YTD. During the same period, the iShares Silver Trust ETF (SLV), which tracks silver prices, had fallen 3.8%.

Silver Price Forecast March 21, 2018, Technical Analysis

Silver markets rolled over during trading on Tuesday, reaching down towards the $16.10 level. I believe that there is significant support at the $16 level underneath, which is an area that has been important more than once. I suspect that there will be value hunters in this general vicinity, and therefore I look at this as a potential buying opportunity, but I also recognize there are a lot of variables.

Is Pan American Silver Corp (TSE:PAAS) Undervalued?

Pan American Silver Corp (TSX:PAAS), a metals and mining company based in Canada, saw significant share price volatility over the past couple of months on the TSX, rising to the highs of CA$21.41 and falling to the lows of CA$19.1. This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price. A question to answer is whether Pan American Silver’s current trading price of CA$20.12 reflective of the actual value of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Pan American Silver’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.

Gold edges up as dollar dips, investors await rate hike outlook

Gold prices inched up on Wednesday as the dollar crept lower, while investors awaited the conclusion of US Federal Reserve's two-day meet for clues on faster monetary tightening, expecting the first rate increase of the year later in the day. FUNDAMENTALS Spot gold was up 0.1 per cent at $1,311.72 per ounce, as of 0118 GMT. Prices hit a nearly three-week low in the previous session at $1,306.91. US gold futures for April delivery was flat at $1,311.60 per ounce.

PRECIOUS-Gold gains on dollar decline as market awaits Fed rate outlook

March 21 (Reuters) - Gold prices rose on Wednesday as the dollar fell as investors await the outcome of the U.S. Federal Reserve's meeting this week for signs of the pace of monetary tightening, which could limit the demand for bullion going forward. Spot gold rose 0.2 percent to $1,313.96 per ounce at 0336 GMT. Prices fell to a nearly three-week low in the previous session of $1,306.91. U.S. gold futures for April delivery fell 0.1 percent to $1,313.80 per ounce. The dollar index , which measures the greenback against a basket of six major currencies, slipped down 0.1 percent to 90.256 after climbing to 90.445 on Tuesday, its highest in almost three weeks.

Gold prices hover near the support level

Gold prices are currently struggling near the important support level of 30,240 levels. MACD line has also moved lower below the signal line on hourly chart indicating weakness in prices. If prices breach 30,240 level, then we can expect gold prices to move lower towards 30,115 levels.

Gold prices to trade higher today: Angel Commodities

Spot gold prices recovered yesterday and gained 0.3 percent ahead of FOMC meeting wherein the new Fed chief Jerome Powell could raise interest rates and signal three more increases this year. Last week, spot gold prices declined by 0.42 percent to trade at $1318 per ounce while MCX gold prices traded lower by same margin to trade at Rs.30270 mark.

U.S. Dollar Continues To Be Largest Contributor To Gold Pricing

Gold is trading under pressure today, currently trading off by $7.80 and fixed at $1,310. As of 4:51 PM Eastern standard time, gold prices have given up all of yesterday’s gains and closed at below yesterday’s open. However, yesterday’s gains, as well as today’s selloff, have been a direct result of dollar strength and dollar weakness.

Gold Lacks Energy

On Monday, the equity markets were under heavy pressure early, as was the dollar. And where were the metals? They were only slightly higher. Metals continue to be asleep with no energy. With Monday’s fear in equities and a weak dollar, gold could only muster a small rally. With equities down almost 500 points and the euro currency up big and gold on support, the rally was disappointing.

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