27th June, 2018

Wednesday, June 27

New Zealand is to publish data on trade and a report on business confidence.
Bank of England Governor Mark Carney is to hold a press conference about the latest financial stability report in London.
The U.S. is to release data on durable goods orders.
Fed Governor Randal Quarles is to speak at an event in Idaho.
Bank of Canada Governor Stephen Poloz is to speak.

Daily Gold Market Report

Gold price approaches the first target – Analysis - 27-06-2018
 Gold price begins today’s trading with bearish bias to reach the thresholds of the first waited target at 1250.00, falling under continuous negative pressure coming by the EMA50, reinforcing the chances of extending the bearish wave to reach the recently recorded low at 1236.41. Therefore, we will continue to suggest the bearish trend in the upcoming period unless breaching 1267.00 level and holding above it. Expected trading range for today is between 1240.00 support and 1267.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver tests the support – Analysis - 27-06-2018
Silver price tests the sideways range support line at 16.15, and the sideways bias still dominating the intraday trading until breaching one of the mentioned range’s lines represented by 16.15 support and 16.80 resistance to detect the next targets clearly. We remind you that breaking the mentioned support will push the price to visit 15.49 level direct, while breaching the resistance will lead the price to achieve gains that start at 17.43. Expected trading range for today is between 16.00 support and 16.40 resistance. Expected trend for today: Sideways

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Proposal for Photocard for Hallmarked Jewellery

Gold / Silver / Copper Prices - Weekly Outlook: June 25 - 29

Gold looks likely to remain vulnerable amid worries over higher U.S. interest rates boosting Treasury yields, after the yellow metal registered a second weekly decline last week, ending close to its lowest levels since December. Gold futures for August delivery tacked on 60 cents to settle at $1,271.10 on the Comex division of the New York Mercantile Exchange late Friday. For the week, prices were down 0.56%. Its close on Thursday at $1,267.20 was the lowest since December. Prices of the precious metal have been pressured lower against a backdrop of rising U.S. interest rates and a stronger dollar. Expectations for higher rates tend to be bearish for gold, which struggles to compete with yield-bearing assets when rates rise, while a stronger U.S. currency makes gold and other dollar-denominated commodities more expensive for foreign investors...

Gold prices to trade lower today: Angel Commodities

Spot gold prices declined 0.28 percent to close at $1265 per ounce. Gold prices plunged to six month lows in yesterday session despite rising global trade tensions. Gold prices fell despite a report said the United States plans to bar Chinese companies from investing in its Technology firms, as investors ignored the safe haven metal...

Gold prices hover near six-month low as dollar firms

Gold prices sat near a more than six-month high low hit in the previous session, as the dollar firmed amid easing risk aversion and expectations of further interest rate hikes by the US Federal Reserve. Spot gold dipped 0.1 per cent to $1,257.81 an ounce, as of 0045 GMT. It touched its lowest since mid-December at $1,254.16 in the prior session. US gold futures for August delivery were nearly unchanged at $1,259.70 per ounce...

Gold flat, silver falls in morning deals

Precious metals gold and silver were trading mixed in the late morning deals on Wednesday. MCX Gold futures were trading 0.04 per cent, or Rs 11 higher at Rs 30,565 per 10 grams at 11:22 am (IST), while MCX Silver futures were down 0.19 per cent, or Rs 75, at Rs 39,565 per 1 kg at the same time. SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings stood at 824.63 up 4.42 tonnes, from the previous business day...

Gold, Silver Prices Down, But Off Daily Lows On Surging Oil

Gold and silver prices are weaker in early-afternoon U.S. trading Tuesday. However, prices have moved well up from their daily lows that saw gold hit a six-month low and silver hit a seven-week low. A surge in Nymex crude oil prices above $70.00 did helped to lift gold and silver markets up from their session lows just before midday. August gold futures were last down $6.90 an ounce at $1,262.00. July Comex silver was last down $0.053 at $16.275 an ounce...

Gold Seen Fighting Back as Dollar Rebound Is Poised to Fade

Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1,320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1,256 on Wednesday. While trade tensions haven’t yet provided much support, an escalation combined with a slide in the dollar could lift prices, Geneva-based Luyet said on Monday...

Gold Looks ‘Ready For Takeoff’, Says One Analyst

The summer dip in gold prices might be a sign of a reversal for the yellow metal, according to one gold bull, who is expecting to see a “takeoff” amid a “friendlier” macro environment. “A short-term bottom in gold seems to be very likely at this juncture, thanks to a slightly friendlier macro backdrop,” Boris Mikanikrezai, precious metals analyst at Metal Bulletin, wrote in a Seeking Alpha post on Tuesday...

Summer Rally? Gold & Silver To ‘Prosper’ After Yet Another Fed Rate Hike — Eric Sprott

Despite another Federal Reserve rate hike already priced in for Wednesday, the U.S. central bank has “lots of reason” to be concerned, said billionaire precious metals investor and founder of Sprott Inc Eric Sprott, adding that gold and silver will “prosper” following the very likely hike. We could possibly be looking at a summer rally here, according to Sprott, who told the Fed “to bring on” the likely rate hike. “Let’s have that rate increase. Let’s get it over with, here. Because, typically, I don’t think the Fed really could possibly read things as bullish as they might have started the year off thinking. Because it’s really not quite coming together,” he said in a Sprott Money’s Weekly Wrap-Up on Friday. “Housing’s weak, auto’s week, retail sales are nothing special, you’ve got inflation affecting lots of areas… We have lots of reason for the Fed to be expressing concern.”...

Gold hits fresh 2018 low, RSI at lowest since December 2016

The yellow metal fell to $1,253 in Asia - the lowest level since December 18 despite the rising odds of a full-blown trade war between the US and the rest of the world. Gold is also a currency with limited supply and cannot be printed out of thin air. So, its decline is likely an indication that other paper currencies have little room to rally against the greenback. As of writing, gold is trading at $1,255 - down 8.1 percent from the April high of $1,365. The sharp sell-off has pushed the 14-day relative strength index (RSI) below 30.00 (into oversold territory)...

Gold, silver prices turn weak on global cues, subdued demand

Gold prices fell by Rs 120 per ten grams at the bullion market here today, tracking a weak trend overseas amid slackened demand from local jewellers. Silver prices also dipped and lost Rs 330 to Rs 39,490 per kg due to reduced offtake by industrial units. Standard gold (99.5 purity) fell by Rs 120 to conclude at Rs 30,440 per 10 grams from Monday's closing level of Rs 30,560...

Gold And Bitcoin In The Next Financial Crisis

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