25th April, 2018

Wednesday, April 25

Financial markets in Australia will remain closed for a holiday.
BoC Governor Stephen Poloz is to testify before the Senate banking committee in Ottawa.

Daily Gold Market Report

Gold gets a negative signal – Analysis - 25-04-2018
Gold price begins today’s trading with slight bearish bias affected by the negative signal provided now by stochastic, which forms a motive to resume the intraday bearish trend, waiting to test 1316.48 level as a next main station. The EMA50 continues to support the suggested bearish wave, noting that breaching 1335.40 will stop the current negative pressure and push the price to regain the main bullish trend that its first main target located at 1365.97. Expected trading range for today is between 1316.00 support and 1335.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver gathers the positive momentum – Analysis - 25-04-2018
Silver price keeps its stability above 16.56 level, noticing that stochastic gets rid of its negative momentum clearly to reach the oversold areas, which forms positive factor that we are waiting to assist to push the price to rise in the upcoming sessions, waiting to visit 17.43 level. Therefore, we are waiting for positive trading today, conditioned by the price stability above 16.56, reminding you that breaching 17.43 will push the price towards 18.30 as a next main station. Expected trading range for today is between 16.50 support and 17.00 resistance. Expected trend for today: Bullish

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Silver price could increase in 2018 on safe-haven demand -CPM

NEW YORK, April 24 (Reuters) - The price of silver will depend heavily on trends in investment demand in 2018, but could get a boost from international political and economic risk purchases, CPM Group said on Tuesday. “The enormous range of economic, financial and political issues facing the world and individual investors seems more likely to lead to a rekindling of silver demand from investors,” New York-based CPM Group said in its Silver Yearbook 2018.

Gold, Silver Bounce Amid Weaker U.S. Dollar, Equities

(Kitco News) - Gold and silver prices were higher in early-afternoon U.S. trading Tuesday, on rebounds following recent selling pressure. A weaker U.S. dollar index on this day and a sell-off in the U.S. stock market worked in favor of the precious metals bulls today. June Comex gold futures were last up $9.70 an ounce at $1,333.30. May Comex silver was last up $0.128 at $16.715 an ounce. The U.S. stock market bulls may have been spooked a bit today as U.S. Treasury 10-year note yields hit a four-year high of 3%. Such hints at rising inflation, but not yet problematic. Still, hard assets (metals, commodities) perform better than paper assets (stocks, bonds) during time of rising inflation that could become worrisome at some point, and possibly sooner than most would reckon.

Silver imports from China soar 270% in 2017

Silver imports from China soared 270 per cent in 2017 with the vault facility becoming fully functional at Sri City Free Trade Warehousing Zone near Chennai. China accounted for 65 per cent of India’s silver imports in the year. In 2017, the country’s silver imports doubled to 5,677 tonnes from 2,794 tonnes in 2016. In 2016, China was the source market for 35 per cent of the imports or 977 tonnes. In 2017, silver originating from China went up to 3,621 tonnes, or 65 per cent of the pure silver imports of 5,572 tonnes. Around 105 tonnes of the total imports had come as concentrates and dore, according to the data from GFMS, the precious metals agency.

Gold falls on dollar's strength, easing N. Korea tensions

Gold prices fell on Wednesday as the dollar advanced towards more than three-month highs and on easing concerns over North Korea and a Sino-US trade war, but found some support from sliding stock markets.Spot gold was down 0.1 per cent at $1,329.04 per ounce at 0335 GMT. The yellow metal rose 0.5 per cent on Tuesday to break a three-session losing streak. US gold futures eased 0.2 per cent to $1,330.60 per ounce.

Gold prices inch up as equities slide

Gold prices edged higher on Wednesday as most global stock markets fell and as the US dollar eased below an over three-month high hit in the previous session. Fundamentals Spot gold was up 0.1 per cent at $1,330.96 per ounce at 0058 GMT. Prices on Tuesday rose 0.5 per cent to break a three-session losing streak. US gold futures were steady at $1,332.60 per ounce. Asian shares were under pressure on Wednesday, with a rise in US bond yields above the 3-per cent threshold and warnings from bellwether US companies of higher costs driving fears that corporate earnings growth may peak soon. The dollar index, which measures the greenback against a basket of currencies, was little changed at 90.800, lower than 91.076 hit in the previous session, its strongest level since Januaury 12.

Gold prices to trade higher today: Angel Commodities

On Tuesday, spot gold prices rose 0. 5 percent to close at $ 1330.3 per ounce, away from its two week low, buoyed by weakness in US equities and easing of DX from three month highs. Gold started the week on a negative note as global political concerns eased while stronger dollar and rising US Treasury yields also exerted downside pressure on the yellow metal. The dollar traded near a two - week high against a basket of major currencies on Monday, bolstered by rising U.S. bond yields and as concerns eased over global political risk s after North Korea said it would suspend nuclear and missile tests, scrap its nuclear test site and pursue economic growth and peace. On the MCX, gold prices gained 0.3 percent to close at Rs. 31538 per 10 gms.

Gold worth Rs 2.59 crore seized from Dubai-Mumbai Jet Airways flight

Gold bars worth over Rs 2.59 crore were seized from Jet Airways flight 9W 579 from Dubai at the Chhatrapati Shivaji International Airport (CSIA) in Mumbai. The Air Intelligence Unit of Customs carried on a routine check-up of the flight once it landed in Mumbai. A Customs official said, "During the course of rummaging, the AIU officials recovered six gold bars, each weighing one kilogram each, with foreign marking, and six gold pieces, each weighing 2,990 grams."

Gold likely to remain volatile in near term; range to be around $1,350/oz: CARE Ratings

Traditionally, gold is viewed as a safe-haven by stakeholders who seek to preserve their purchasing power during rising inflation or as a hedge against market volatility. Gold prices are typically influenced by monetary policy announcements, economic data, strength of the US dollar, supply & demand, inflation, currency movements, activity of ETFs, and jewellery demand.

Everyone Thought This Coin From the California Gold Rush Was Fake, But It's Actually Worth Millions

In 1854, at the height of the California Gold Rush, the San Francisco Mint produced less than 300 special $5 coins. Only three were known to survive into modern times. Until today, that is. Now there are four. The owner of the fourth coin, who wishes to remain anonymous, really was convinced that the coin was fake. Coin dealers thought it was a forgery too, insisting that there’s no way he could have had a rare 1854 piece like that. But he brought it to the Numismatic Guaranty Corporation (NGC), a Florida-based company that does third-party authentication of coins, and its experts confirmed this rare treasure was the real deal.

Are The Pieces In Place For Gold To Push Above $1,360?

Kitco News) - A sharp drop in the The S&P 500 Tuesday is breathing some life into gold as investors continue to wonder if and when the yellow metal will break above key resistance on the back of higher volatility. Some analysts have said that conditions are ripe for gold to rally above $1,360 an ounce, which is a critical resistance level according to many investors

Gold steadies after three-day slide as dollar stabilises

Gold steadied after three days of losses on Tuesday as the dollar stabilised off an earlier three-month peak and a rise in U.S. Treasury yields stalled, with lower prices tempting some buyers back to the market.

Gold’s Next Stop: $1,300

Gold was under siege on Monday along with silver. The big difference between the two patterns is gold failed to hold support and silver sold off to support. The trade being short gold and long silver remains intact, with the ratio 79-1.

Gold - Still More Patience Needed

Although gold has been acting pretty strong over the last three months, it was not able to breakout through the massive resistance zone between 1,350 USD and 1,375 USD so far! Actually, all that did happen since the top in January was a tricky and confusing sideways consolidation. Investors and traders want to avoid such a challenging and trendless period in any market, as it usually creates too many misleading signals.

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