29th November, 2017

Daily Market Rates

India A.M. (29-11-17)

999 Gold - Rs. 29,615/-
995 Gold - Rs. 29,465/-
916 Gold - Rs. 27,127/-
750 Gold - Rs. 22,211/-
585 Gold - Rs. 17,325/-
999 Silver - Rs. 38,750/-

India P.M. (28-11-17)

999 Gold - Rs. 29,590/-
995 Gold - Rs. 29,440/-
916 Gold - Rs. 27,104/-
750 Gold - Rs. 22,193/-
585 Gold - Rs. 17,310/-
999 Silver - Rs. 39,100/-

Wednesday, November 29

Germany is to release preliminary data on inflation.
The UK is to publish data on net lending.
The U.S. is to release revised data on third quarter growth.
New York Fed President William Dudley is to speak. Fed Chair Janet Yellen is to testify on the U.S. economic outlook before Joint Economic Committee of Congress, in Washington.
The U.S. is to release data on pending home sales.

Daily Gold Market Report

Gold begins with calm positivity – Analysis - 29-11-2017
Gold price opens today's trading with slight bullish bias to approach the key resistance 1299.20, and as we mentioned in our recent reports, the price needs to breach this level to confirm extending the bullish wave towards our next positive target at 1321.50. In general, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50 and stochastic, reminding you that breaking 1281.17 will stop the suggested rise and push the price to test 1263.15 areas before any new attempt to rise. Expected trading range for today is between 1285.00 support and 1310.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver shows some decline – Analysis - 29-11-2017
Silver price provided some negative trading yesterday to move below 17.00, while the main bullish trend still suggested as long as the price remains stable above 16.56, as breaking this level will push the price to target 15.49 areas before any new attempt to rise. Our first target is represented by breaching 17.43 to confirm opening the way to head towards 18.30 as a next main station. Expected trading range for today is between 16.75 support and 17.05 resistance. Expected trend for today: Bullish

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Silver Will Be The New Bitcoin, Only A Matter Of Time - Keith Neumeyer

Focus Silver Will Be The New Bitcoin, Only A Matter Of Time - Keith Neumeyer Neils Christensen Neils Christensen Tuesday November 28, 2017 13:46 Kitco NewsShare this article: (Kitco News) - The future belongs to silver, according to one silver mining executive who sees prices rising more than 600% within the next three to five years. In an interview with Kitco News on the sidelines of the Silver and Gold Summit in San Francisco, Keith Neumeyer, CEO of First Majestic Silver Corp said that he is bullish on silver because of growing industrial demand, seeing prices rally to $130 an ounce. “To go green, to do all the things we want to do as the human race gets off oil and gas, we need a ton of silver,” he said.

Move over gold: Here's why silver jewellery is your best bet

NEW DELHI: It's more affordable, need not be stored away in a locker and adds a lot of style -- these are some of the reasons why you could go for silver rather than gold jewellery, say experts.Experts at Jaypore.com and Bhavya Chawla, Chief Stylist at Voonik.com have listed why silver is in: - Silver jewellery is more affordable and also, gold jewellery designs can be replicated easily in silver. Customers are moving towards silver jewellery as it has loads of interesting designs and is great to complement your outfit for day to day wear.

Gold Treads Water, Silver Sinks As U.S. Stock Indexes Hit New Highs

(Kitco News) - Gold held its own and finished near steady Tuesday amid a rally in the competing asset class of equities that saw the U.S. stock indexes push to record highs. Silver could not weather the storm and prices sold off, hitting a four-week low. February Comex gold was last down $0.80 an ounce at $1,298.10. March Comex silver was last down $0.219 at $16.90 an ounce. World stock markets were also mostly higher Tuesday. The general strength in world equity markets continues to keep quite a bit of investor monies away from the precious metals markets. When the major bull run in stock markets starts to fizzle (and it most certainly will, at some point), then safe-haven gold and silver markets will benefit significantly.

Examining Silver Manipulation: What Some Analysts Miss

One of the major topics discussed in the precious metals community is the manipulation of the gold and silver prices by the large bullion banks. Many precious metals analysts point to the massive commercial short positions held by JPMorgan and Scotiabank as the root cause for the low silver price. While I agree that the bullion banks' massive short contracts are controlling the silver price to a certain degree, there's another factor that is overlooked by the majority of precious metals analysts.

What is 30-day rule in gold suggesting?

Gold prices are trading in a narrow range. Over the past 25 days, spot gold is trading in a range of $33, which is smallest since 2007. Each time it looks like gold is about to break out, we see correction and disappointment for bulls. While gold bounced slightly last week, it has given no indication that it is ready to break the two-month trading range. We don’t expect gold to breakout now, since US Federal Reserve meet on December 12-13 is fast approaching, and an interest-rate hike is nearly a done deal. Therefore, we expect some headwinds till December 12 -13.

PRECIOUS-Gold crawls higher but investors largely unmoved by N.Korea test

Nov 29 (Reuters) - Gold prices edged higher on Wednesday amid a slightly weaker dollar, while North Korea's latest missile test had little impact on the safe-haven metal. Gold traded in a narrow range despite a raft of economic news out of the United States including progress on tax cuts and Fed chair nominee Jerome Powell's confirmation hearing. "Gold has not rallied at all after North Korea's latest missile test ... It further reinforces that the risk-off safe-haven premiums associated with gold are gone for now," said Jeffrey Halley, senior market analyst with OANDA.

Bitcoin: What's behind the gold rush?

There are two key traits of Bitcoin: it is digital and it is seen as an alternative currency. Unlike the notes or coins in your pocket, it largely exists online. Although there are some specialist ATMs which issue bitcoins, it may be best to think of them as being more like virtual tokens. And secondly, Bitcoin is not printed by governments or traditional banks.

Billionaire Sawiris To Expand His $1.5 Billion Gold Mining Reach

(Kitco News) - Egyptian billionaire Naguib Sawiris will be expanding his investment in the gold mining sector and adding to the $1.5 billion assets already owned, Financial Times reported. The new investment venture will be focusing on acquiring operational gold mines without any jurisdictional limitations, reportedly looking at Latin America and Central Asia.

Welsh gold sold at Colwyn Bay auction for £44,000

The 10 lots of Clogau gold, mined under government lease between 1979 and 1981, were expected to fetch about £9,000. But after going under the hammer at Rogers Jones Co in Colwyn Bay, the lots went for £44,000 to one buyer. Auctioneer David Rogers-Jones had been told by experts that Welsh gold was "visibly discernible" from other types and the "Clogau factor" could increase the selling amount.

Gold prices to trade higher: Angel Commodities

On Tuesday, spot gold prices declined marginally by 0.06 percent to close at D1293.6 per ounce as the dollar strengthened after U.S. Federal Reserve chair nominee Jerome Powell told the Senate Banking Committee at his confirmation hearing that the Fed was likely to raise interest rates next month. Powell, who aims to succeed current chair Janet Yellen and her predecessor Ben Bernanke, said the Fed should "respond decisively" to any new economic crisis.

Expect Gold to trade sideways: Sushil Finance

Gold prices rose on Monday, buoyed by a weaker dollar, as investors looked ahead to congressional testimony by the nominee to chair the U.S. Federal Reserve and a meeting between U.S. President Donald Trump and Senate Republicans on tax reform. Last week, U .S. PMI and capital goods data missed expectations, pressuring the dollar which slid to its weakest in two months. A weaker dollar can stimulate demand for gold, making the precious metal cheaper for holders of other currencies. Also weighing on the dollar were the minutes from the latest Federal Reserve meeting, showing policymakers were concerned about low inflation and could be wary of raising interest rates rapidly. Gold is highly sensitive to rising interest rates because they tend to strengthen the dollar and push U.S. bond yields higher, reducing the appeal of non - yielding bullion. Also on Tuesday, Trump will meet with Senate Republicans to discuss tax reform legislation that could accelerate U.S. economic growth. Gold options on the December contract were set to expire on Monday.

2018 Will Be Unprecedented Time For Gold Prices - Edison Investment Research

(Kitco News) - Gold’s sensitivity to official U.S. monetary policy is at the highest point since the late 1970s or 1980s, says Charles Gibson, director and sector head of mining at Edison Investment Research.

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