23rd November, 2017

Thursday, November 23

Financial markets in Japan will be closed for a holiday.
The euro zone is to release data on manufacturing and service sector activity.
The UK is to produce revised data on third quarter economic growth.
The ECB is to publish the minutes of its latest policy setting meeting.
Financial markets in the U.S. will be closed for the Thanksgiving holiday.
Canada is to report on retail sales.
Swiss National Bank Chairman Thomas Jordan is to speak at an event in Basel.

Daily Gold Market Report

Gold approaches the first target – Analysis - 23-11-2017
Gold price settles near 1290.00 level after the bullish rally yesterday, noticing that stochastic shows clear overbought level, which might force the price to provide some temporary sideways trading until getting enogh positive momentum to push the trading to rise again. In general, bullish trend scenario remains valid if the price settles above 1281.17 and 1274.00 level, pointing that our first target at 1299.20, and breaching it will push the price to extend its gains to 1321.50 directly. Expected trading range for today is between 1280.00 support and 1300.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver continues to fluctuate – Analysis - 23-11-2017
Silver price keeps fluctuating near the EMA50, noticing that stochastic begins to overlap positively on the daily time frame, waiting for motiviating the price to resume the bullish trend in the upcoming period, and its targets begin by testing 17.43 level, pointing that breaching this level will push the price to 18.30 as a next station. Therefore, the bullish trend will remain active unless witnessing clear break and holding with a daily close below 16.56. Expected trading range for today is between 16.90 support and 17.43 resistance. Expected trend for today: Bullish

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Silver futures fall to Rs. 40,160 per kg

NEW DELHI, NOV 23: Silver prices moved down by 0.22 per cent to Rs. 40,160 per kg at the futures trade today as traders cut down their bets in line with a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in far-month March next year fell Rs. 89 or 0.22 per cent to Rs. 40,160 per kg in a business turnover of 48 lots. Likewise, the white metal for delivery in December was trading lower by Rs. 79 or 0.20 per cent at Rs. 39,490 per kg in 389 lots.

Silver: The Darkest Hour Is Just Before Dawn

Not only has the price of silver languished for most of 2017 around the $17 area, volatility has dried up and the divergence with gold (GLD) only gets wider. Clearly, there is a problem. But as the old quote goes, 'the darkest hour is just before dawn'. In this article, I will look at some of the factors weighing on silver prices, and if the subdued prices and volatility offer an opportunity.

Gold Rate Today: Track today gold rate latest trends and news

Gold prices nudged lower early Thursday, after gaining nearly one per cent in the previous session on weaker US economic data and concerns by some Federal Reserve policymakers about lower inflation. Gold prices declined by 0.15 per cent to Rs 29,487 per 10 grams in futures trade today as participants trimmed positions amid a weak trend overseas.

This Gold Fund Is Joining the Bitcoin Frenzy

The Old Mutual Gold & Silver Fund, which manages $220 million of mostly precious metal equities, is jumping on the bitcoin wagon. The fund started buying in April with a mandate to allocate as much as 5 percent to cryptocurrencies, according to its manager, Ned Naylor-Leyland. The idea is to take profits from bitcoin as it advances to reinvest in gold and silver assets, he said in an interview on Nov. 16.

Gold futures weaken by 0.15% on global cues

Gold prices declined by 0.15 per cent to Rs 29,487 per 10 grams in futures trade today as participants trimmed positions amid a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in December fell by Rs 43, or 0.15 per cent to Rs 29,487 per ten grams in business turnover of 345 lots. Similarly, the yellow metal for delivery in far-month February was trading lower by Rs 39, or 0.13 per cent to Rs 29,620 per ten grams in 35 lots.

Gold on an upswing, prices to soon test Rs 30,000 level

Gold prices this month have seen a recovery of more than 2 per cent in domestic as well as international market. From the low of Rs 29,088 per 10 gram, gold has tested the level of Rs 29,700 in the domestic market, while in international market it recovered from the low of $1,269 per troy ounce to $1,296 per troy ounce.

Gold Prices Rally As U.S. Dollar Index Slumps

(Kitco News) - Gold prices ended the U.S. day session with good gains Wednesday. The precious metals markets got buying support come from outside markets that were in a bullish daily posture—a solidly lower U.S. dollar index and higher crude oil prices. December Comex gold was last up $3.00 an ounce at $1,284.80. December Comex silver was last up $0.02 at $16.98 an ounce.

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