4th December, 2017

Monday, December 4

Australia is to report on company profits.
The UK is to publish data on construction sector activity.
The eurogroup of euro zone finance ministers are to hold meetings in Brussels.
The U.S. is to release data on factory orders.

Daily Gold Market Report

Gold below the resistance – Analysis - 04-12-2017
Gold price kept its stability below 1281.17 level after the positive attempts that it provided on last Friday, to keep the bearish trend active for the upcoming sessions, supported by the negative pressure formed by the EMA50, waiting to test 1263.15 level mainly, reminding you that this level represents 61.8% Fibonacci for the rise measured from 1204.81 to 1357.53, which urges caution when reaching it. Note that breaking the targeted level will extend Gold price losses to reach 1240.85 as a next main station, while breaching 1281.17 represents the first positive key to push the price to regain the main bullish trend, to start the positive targets at 1299.20 and extend to 1321.50. Expected trading range for today is between 1263.00 support and 1285.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver crawls downwards – Analysis - 04-12-2017
Silver price still stable below 16.56 level, and the price falls under negative pressure coming by the EMA50, thus, we will continue to suggest the bearish trend in the upcoming sessions, reminding you that our next main target is located at 15.49. Note that breaching 16.56 will stop the current negative pressure and lead the price to start recovery attempts that target 17.43 followed by 18.30 levels as initial main stations. Expected trading range for today is between 16.20 support and 16.50 resistance. Expected trend for today: Bearish

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Gold / Silver / Copper Prices - Weekly Outlook: December 4 - 8

Investing.com - Gold prices ended higher on Friday following reports that former national security adviser Michael Flynn is prepared to testify against President Donald Trump in the ongoing Russia investigation. Gold futures for December delivery settled up 0.51% at $1,279.70 on the Comex division of the New York Mercantile Exchange, paring back gains after rising as high as $1,288.60 earlier.

Silver weakens in futures trade, down Rs 87

New Delhi, Dec 4 Silver prices fell by Rs 87 to Rs 38,359 per kg in futures trade today as speculators booked profits amid a weak trend overseas. Silver for delivery in far-month March was down by Rs 87, or 0.23 per cent, to Rs 38,359 per kg in futures trade at the Multi Commodity Exchange. It clocked a business volume of 426 lots. Market analysts said profit-booking at prevailing levels and fresh losses in the white metal overseas mainly pulled down the prices in futures trade.

PRECIOUS-Gold dips as dollar shines after U.S. Senate clears tax bill

Dec 4 (Reuters) - Gold prices traded lower early on Monday, as the dollar gained after Republicans in the U.S. Senate passed a bill to overhaul the country's tax system, moving the process forward. FUNDAMENTALS * Spot gold was down 0.4 percent at $1,275 an ounce by 0047 GMT. * U.S. gold futures were down 0.3 percent at $1,278.10.

Gold Mining Company’s Shares Jump 1,300% After Switch to Bitcoin

With the exponential growth in bitcoin’s price this year and ‘blockchain technology’ becoming the hottest buzzword in the business world it is not surprising that investors are betting on everything crypto-related. The allure of capitalizing on this attraction is so strong, now even regular mining operators are jumping in – and even succeeding in rebranding themselves as bitcoin companies.

Gold futures fall by Rs 198 on profit-booking, global cues

Gold prices fell by Rs 198 to Rs 29,197 per 10 grams in futures trade today due to profit booking by participants at prevailing high levels amid weak global trends. At the Multi Commodity Exchange, gold for delivery in February 2018 lost Rs 198, or 0.67 per cent, at Rs 29,197 per 10 grams in a business turnover of 330 lots. Similarly, the metal for delivery in December eased Rs 189, or 0.65 per cent, to Rs 29,020 per 10 grams in a modest volume of just five lots.

Gold Rate Today: Gold, silver down in morning trade

Gold and silver were trading in the red in morning trade on Monday. MCX Gold futures were down 0.47 per cent, or Rs 136, at Rs 29,073 per 10 gram, while MCX Silver futures were down 0.01 per cent, or Rs 2, at Rs 37,580 per 1 kg at around 10.50 am (IST). According to Angel Commodities, strong economic data from the US, upbeat sentiment on equities and probable rate hike in US FOMC December meeting are factors weighing on the yellow metal.

Bitcoin investors hoping to make billions may end up with a sack of fool’s gold

Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can be said of the bitcoin miners who dream of striking it rich by getting their hands on some of the extremely lucrative and painfully elusive electronic currency.

How Will Gold End 2017?

2017 is almost over. The last 11 months were not perhaps a spectacular time for gold, but it managed to rise more than 12 percent year-to-date, as one can see in the chart below:November was rather dull for the gold market - the price of the yellow metal increased more than 1 percent, but it remained within the recent tight range. Actually, gold prices have been stuck in one of the narrowest trading ranges for years. How will the golden vehicle finish the final lap of the year? Will it finally jump above $1,300 or will it bottom, just as 2015 and 2016?

Sentiment Speaks: Are We Ready For A Gold And Silver Rally?

Many of you who follow my analysis have learned quite well how I look at the market. And, those of you who have read me in the past know that I do not view fundamentals as being relevant to determining when we can see a major turn in the metals market.

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