25th September, 2017

Daily Gold Market Report

Gold keeps its negative stability – Analysis - 25-09-2017
Gold price begins to rebound bearishly after retesting 1299.20 level, supported by the negative signal provided by stochastic, besides the negative pressure coming by the EMA50, to reinforce the chances of continuing the correctional bearish trend that its next target located at 1281.17. Therefore, the bearish bias will be dominant in the upcoming sessions unless breaching 1299.20 level and holding above it, as breaching this level will push the price to start recovery attempts that target 1321.49 areas initially. Expected trading range for today is between 1281.17 support and 1300.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver declines calmly – Analysis - 25-09-2017
Silver price continues to fluctuate within tight track with slight bearish bias to move below 17.00 barrier, which makes us keep our bearish overview on the intraday basis, which targets testing 16.56 level mainly. Therefore, we will be waiting for more decline in the upcoming sessions supported by the EMA50, reminding you that holding below 17.43 represents key condition to continue the suggested decline. Expected trading range for today is between 16.70 support and 17.00 resistance. Expected trend for today: Bearish

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Gold / Silver / Copper Futures - Weekly Outlook: September 25 - 29

Gold prices pushed higher on Friday, pulling away from the previous session’s four-week low as risk aversion escalated and the U.S. dollar fell amid heightened tensions on the Korean peninsula. Gold futures for December delivery settled up 0.51% at $1,301.45 on the Comex division of the New York Mercantile Exchange. The precious metal was boosted after North Korea said on Friday it could test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump threatened to “totally destroy” the country if the U.S. was forced to defend itself or its allies...

Gold falls as dollar firms up, N. Korea worries ease

Gold prices dropped on Monday, and hovered around one-month lows hit last week, weighed down by a firm US dollar and as concerns over the Korean peninsula eased over the weekend. Spot gold fell 0.3 per cent to $1,293.35 per ounce at 0418 GMT, not far from last week's near one-month low of $1,287.61. Prices for the yellow metal dropped about 1.7 per cent last week...

Global cues drag down silver futures by 0.26%

Tracking a weak global trend, silver prices moved down by 0.26 per cent to Rs 39,623 per kg in futures trading today as speculators trimmed their bets. At Multi Commodity Exchange, silver for delivery in far- month December fell Rs 104, or 0.26 per cent, to Rs 39,623 per kg in a business turnover of 426 lots...
 

Gold futures slide 0.22% on weak global pointers

Gold prices fell 0.22 per cent to Rs 29,520 per 10 grams in futures trade today as participants cut down their bets amid a weak global trend. At Multi Commodity Exchange, gold prices for delivery in October declined Rs 65, or 0.22 per cent, to Rs 29,520 per 10 grams in a business turnover of 444 lots. Similarly, the metal for delivery in far-month November was trading lower by Rs 62, or 0.21 per cent, to Rs 29,368 per 10 grams in 8 lots...

Gold’s Bearish Reversal Marks A Triple Top … For Now

Silver Speculators Decreased Bullish Bets For 1st Time In 9 Weeks

Here's why gold will not glitter this Diwali

With Goods and Services Tax (GST), demonetisation and Anti-Money Laundering (AML) regulations coming into effect, gold will not glitter much this Diwali, feels Somasundaram P.R., Managing Director - India of the World Gold Council (WGC). "Diwali this time has its own challenges. But I am optimistic now, as everything has settled down. It is the AML part which is probably hurting people at the moment. Wedding purchases will be more affected than Dhanteras buying,"...

Two Countries Are Driving the Demand for Silver - India and China 

India and China are known as major gold-consuming countries. But we are seeing them build a strong appetite for silver too. If that demand continues, it could lead to soaring silver prices. In August alone, India imported $269.5 million worth of silver, which is almost 107% more than India imported in August 2016, when only $130.3 million worth of silver was imported into India. (Source: “Quick Estimates For Selected Major Commodities For August 2017,” Government of India Ministry of Commerce and Industry, last accessed September 18, 2017.) Assuming silver prices of about $16.50 an ounce in August, India imported roughly 16.3 million troy ounces of the metal, equivalent to almost 508 tonnes. That’s a lot of silver...

No customs duty on gold in the GCC?

A consultative body formed by GCC official entities has finalised a study on exempting all kinds of gold from customs tariff in GCC states. The study has been forwarded to member countries to get their views on the matter in a primary step to include their proposal to the Trade Cooperation Committee of the Secretariat General of GCC countries in Riyadh. The Saudi Economist news site, quoting a senior GCC official, said the study was prepared based on an assignment from the ministers of trade and industry in GCC countries...

Dennis Gartman sees gold surging to $1400 within months

He called this year's gold rally, and Dennis Gartman isn't letting ominous signs change his forecast. Gartman, often known as the commodities king, predicts the yellow metal's run has a lot more gas in it. "A year from now, gold will be demonstrably higher than it is right now," The Gartman Letter's founder told "Futures Now" in a recent interview. "I would certainly think we could see $1400 [an ounce] in dollar terms...

Swiss August Gold exports hit lowest level since 2014

Swiss customs data show the country, a key conduit for the movement of gold globally, posted its fewest gold exports in three years during August at 71 tons. According to Commerzbank, this was the smallest gold export volume in one month since at least early 2014. Only 15.9 tons were exported to India last month, 27% less than last August and the lowest amount in 13 months. Exports to China and Hong Kong totaled 20.7 tons, which was down 53% year-on-year figure and the smallest quantity in three years...

Bitcoin “Is A Bubble”…But Gold Is Money Says World’s Biggest Hedge Fund Manager

– Bitcoin “is a bubble” but gold is money says world’s biggest hedge fund manager
– Gold is a better “store of value,” Ray Dalio of $160 billion Bridgewater tells CNBC
– Bitcoin has climbed over 300% this year on speculation and expectation that it will continue to climb
– Bitcoin is not a valid currency due to volatility and lack of spending ability says Dalio
– Bitcoin is ‘worse than tulip bulbs’ says JP Morgan’s CEO Dimon
– Crypto buyers need to be concerned with government regulations

ICE delays takeover of London's silver benchmark to Oct. 2

ICE Benchmark Administration, a unit of Intercontinental Exchange (ICE), will take over as operator of London’s silver benchmark on Oct. 2, a week later than planned, the exchange said on Thursday. Two current participants in the benchmark, Swiss bank UBS and China Construction Bank (CCB), are not featured in the line-up of entities taking part in the new benchmark process...

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