30th July, 2018

Monday, July 30

Germany is to release preliminary data on inflation.
 The UK is to produce data on net lending.

Daily Gold Market Report

Gold price gets a negative signal – Analysis - 30-07-2018
Gold price begins today’s trading with bearish bias that hints resuming the main bearish trend, motivated by the negative overlapping signal provided by stochastic, besides the pressure formed by the EMA50. Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, which targets 1204.50 level as a next main station, noting that the continuation of the bearish trend depends on holding below 1246.00 level. Expected trading range for today is between 1204.00 support and 1230.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver price tests the resistance – Analysis - 30-07-2018
Silver price tests the key resistance 15.50 and keeps its stability below it, accompanied by witnessing clear negative signals through stochastic, which supports the expectations of continuing the bearish trend in the upcoming period, which its next main target located at 14.77. Therefore, the bearish bias will remain dominant unless breaching 15.50 level and holding with a daily close above it. Expected trading range for today is between 15.10 support and 15.60 resistance. Expected trend for today: Bearish

IBJA announces launch of "Indian Jewellers Week" (IJW) a dream project for manufacturers and wholesalers across India with its first edition at Zaveri Bazaar, Mumbai from 1st to 7th October 2018. IJW ,
the business at your doorstep is organised by Glambox.
Banaye Aasan Jewellery Vyapar

XAU/USD Price Analysis: Gold Bounces from Fibonacci Support

Gold prices are down nearly 2% month-to-date but the recent rebound off long-term support may yet offer some further upside for the battered metal near-term. Here are the levels that matter for XAU/USD heading into the close of July trade.Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold steadies near 1-year low as dollar slips

LONDON (Reuters) - Gold steadied near one-year lows on Wednesday as the dollar slipped, while lack of clarity over where a trade dispute between the United States and Europe is heading kept most markets range-bound.

New carriers for smuggling gold: Women facing financial crisis and from slums

Women of families facing financial strife and from slums in Mumbai have emerged as the new carriers for smuggling gold from Dubai and the Middle East. The Directorate of Revenue Intelligence (DRI) has arrested Sajia Shaikh (37), who allegedly recruited at least 100 women from slums in Trombay, Mankhurd and nearby areas in suburban Mumbai, between February and June 2018, as carriers for smuggling the yellow metal into the country from Dubai and other Gulf countries through air. The agency has also arrested a carrier, Tabassum Khan (27), for allegedly carrying over 65 gold bars — weighing about 8 kg and worth Rs 2 crore — from Abu Dhabi to Pune on June 26.

Russia’s gold reserves approaching Stalin-era record, cutting dependence on US dollar

“Some countries in the world want to depend as little as possible on US policy, they dump the dollar in trade and American assets as reserves. Russia’s gold purchases increased during the US presidential race and did not stop despite Donald Trump's victory even though he seemed as a more preferable candidate for the Kremlin,” Anton Makhnovsky, CEO of ICBF told RT. The analyst says he thinks Russia will continue ramping up its reserves.

Gold prices recover on positive global cues, jewellers’ buying

New Delhi: Gold prices recovered by ₹40 to ₹30,780 per 10 grams at the Delhi bullion market on Saturday, taking positive leads from global market amid fresh buying by local jewellers, reported PTI Marketmen said firm global cues where gold inched up as the US dollar slid lower after strong US economic growth data while concerns remain about trade tensions between the US and Europe, attributed the recovery in gold prices, the agency reported.

Gold, silver add more losses on global cues

Gold extended its slide for the third straight week and prices drifted lower by Rs 190 to end at Rs 30,780 per 10 grams at the bullion market taking weak cues from overseas markets and fall in demand from local jewellers at the domestic spot market. Silver, in range-bound movements, eased by Rs 30 to Rs 39,225 per kg due to reduced offtake by industrial units and coin makers.

Gold prices steady; central bank meetings, US data loom

GOLD Gold prices were little changed in early trade on Monday, with major currencies including the dollar in a holding pattern ahead of key central bank meetings and US data this week. Fundamentals Spot gold was nearly unchanged at $1,222.68 an ounce at 0107 GMT. US gold futures were about 0.1 per cent lower at $1,222 an ounce. The dollar trod water against its peers on Monday, as market participants awaited key central bank meetings this week, which could set the near-term course for currencies. Central banks in focus include the Bank of Japan, which ends a two-day meeting on Tuesday, and the Federal Reserve, which concludes its policy meeting on Wednesday. The Bank of England also makes a policy decision on Thursday.

August’s Gold Market Looks ‘Ready For The Up Cycle’ — Sprott Money

Kitco News) - As August doldrums are rolling in, the gold market might surprise investors on the upside, according to Eric Sprott, billionaire precious metals investor and founder of Sprott Inc. Gold might have finally found its price bottom after seeing three weeks of consecutive losses, said Sprott during Sprott Money’s Weekly Wrap-Up on Friday

Gold 'buyers' loot shop

Jamshedpur: A group of five armed men, who had cleaned out jewellery from a shop at Uliyan in Kadma after shooting at its owner on Saturday, had entered the store posing as customers. Partha Nayak (40), admitted to Tata Main Hospital, is out of danger but the gang members are still at large.

Gold council to aid exports on the anvil

The Centre has decided to set up a Domestic Council for Gold to aid exports of jewellery and to create an ecosystem to harness the true potential for jewellery-making in the country. Commerce Minister Suresh Prabhu said the council would work towards industry development, job creation, building of regional clusters and strengthening of value chains. He was speaking at the 44th India Gem & Jewellery Awards 2017 organised by the Gem and Jewellery Export Promotion Council (GJEPC), in Mumbai on Saturday.

India’s state-owned miner to start digging for local gold

Gold / Silver / Copper Prices - Weekly Outlook: July 30 - Aug. 3

IBJA members can contact our Delhi regional office for any queries / suggestions regarding IBJA in the North region.
Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
Contact Person: Mr. K.P Singh on 9540230600.

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Address : Gems & Jewellery Trade Council of India "GJTCI" Gem Place, 3rd Floor, Deepkala House, C. G. Road, Ahemdabad - 380 009, Gujarat.
Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

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