24th November, 2017

Friday, November 24

New Zealand is to release data on the trade balance.
The Ifo Institute is to report on German business climate.

Daily Gold Market Report

Gold attempts positively – Analysis - 24-11-2017
Gold price begins today's trading with calm positivity after the slight decline that it witnessed yesterday, waiting to test 1299.20 level initially, reminding you that breaching this level will confirm extending the bullish wave towards 1321.50 direct. In general, we will keep our bullish trend expectations on the intraday basis conditioned by settling above 1281.17, noting that the EMA50 keeps supporting the suggested bullish wave by carrying the price from below. Expected trading range for today is between 1280.00 support and 1305.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver awaits the activation of the positive signal – Analysis - 24-11-2017
Silver price shows more sideways and tight trades, waiting to activate the positive signal provided by stochastic now, to motivate the price to continue the main bullish trend that its targets begin by breaching 17.43 to confirm opening the way to extend Silver price gains to reach 18.30. Therefore, our positive overview will remain active in the upcoming period conditioned by holding above 16.56. Expected trading range for today is between 17.00 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.

Gold prices edge higher on weaker dollar

BENGALURU, NOV 24: Gold prices inched up on Friday as the dollar remained under pressure after minutes of the US Federal Reserve's meeting revealed that some policymakers were concerned over lower inflation. Spot gold was up 0.1 per cent at $1,292.18 per ounce, as of 0134 GMT. Bullion was down about 0.2 per cent for the week. US gold futures for December delivery were unchanged at $1,291.80. The dollar index, which tracks the US unit against a basket of six major rival currencies was down 0.1 per cent.

Student held with 900 gm of gold

The State Goods and Services Tax (GST) officers on Thursday apprehended a college student from Thrissur with 900 grams of gold ornaments in his possession. N. Gopakumar, Intelligence wing head at the Attingal GST office, said the youth was found under suspicious circumstances on the Varkala railway station premises and the examination of his bag led to the discovery of ornaments to the tune of ₹30 lakh which did not have proper documents.

Geopolitics ‘Often Trump’ Monetary Policy When It Comes To Gold - Capital Economics

(Kitco News) - More often than not, the effects of tighter monetary policy on gold are overrated, with drivers like geopolitics able to erase any impact of a rate hike, Capital Economics said in a report. “Tighter monetary policy in developed markets is likely to put some downward pressure on commodity prices, especially gold. But even with gold, other factors, such as geopolitical risks, can often trump the impact of monetary policy,” Thomas Pugh, commodities economist at Capital Economics, wrote in his latest Commodity Update published on Wednesday.

Gold, tobacco lead growth in export receipts

Zimbabwe’s export revenues will post positive growth over the short-term outlook to 2019 on the back of firming gold prices and tobacco production, a leading research firm has said. According to BMI Research, a subsidiary of Fitch Group, although this would help narrow the country’s current account deficit, the country’s external position remains highly constrained by the ongoing shortage of hard currency.

Gold prices rise by Rs150 on wedding season buying, global cues

New Delhi: Gold prices recovered by Rs150 to Rs30,550 per 10 grams at the bullion market on Thursday on fresh buying by local jewellers to meet ongoing wedding season demand amid firm global cues. Silver also rebounded by Rs150 to Rs40,500 per kg on increased offtake by industrial units and coin makers.

Using Gold To See Where The Dollar Will Move Next

I've written a lot about how the US dollar is the fulcrum of the global financial system. Commodities are priced in dollars. Global trade is done in dollars. And the majority of international funding is in USD. The dollar is important. Dollar trends impact markets and assets around the world in various ways. Hence why the dollar is the fulcrum.

3 Top Gold Stocks to Consider Buying Now, and 1 to Avoid

There are different ways to invest in gold, and the method you choose to get exposure to this precious metal really depends on the role you want it to play in your portfolio. The big benefit of including gold (and its precious metal companion silver) in your asset mix is that it is a store of wealth and, thus, it can provide material diversification benefits. And, in my opinion, the best way to get that exposure is via Royal Gold, Inc (NASDAQ: RGLD), Wheaton Precious Metals Corp (NYSE: WPM), and Franco-Nevada Corp (NYSE: FNV).

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