4th July, 2018

Daily Market Rates

India A.M. (04-07-18)

999 Gold - Rs. 30,645/-
995 Gold - Rs. 30,495/-
916 Gold - Rs. 28,071/-
750 Gold - Rs. 22,984/-
585 Gold - Rs. 17,927/-
999 Silver - Rs. 39,295/-





India P.M. (03-07-18)

999 Gold - Rs. 30,415/-
995 Gold - Rs. 30,265/-
916 Gold - Rs. 27,860/-
750 Gold - Rs. 22,811/-
585 Gold - Rs. 17,793/-
999 Silver - Rs. 39,040/-

Wednesday, July 4

Australia is to produce data on retail sales and trade.
China is to release data on the Caixin services index.
The UK is to release data on service sector activity.
Financial markets in the U.S. will be closed for a holiday.

Daily Gold Market Report

Gold price achieves good gains – Analysis - 04-07-2018
Gold price keeps providing the positive trading to surpass the EMA50, on its way for a potential test to the key resistance 1267.00, noticing that stochastic loses its positive momentum to form negative factor that we are expecting to motivate the price to rebound bearishly and resume the bearish trend again. Therefore, we will keep our overall bearish overview unless breaching 1267.00 level and holding above it, reminding you that our main waited target is located at 1236.41. Expected trading range for today is between 1240.00 support and 1267.00 resistance. Expected trend for today: Overall bearish

Daily Silver Market Report

Silver retests again – Analysis - 04-07-2018
Silver price returns to retest 16.15 level now, and as long as the price is below this leve, our bearish overview will remain active, as breaching this level will push the price back to the sideways range again, while our waited negative target is located at 15.49. Expected trading range for today is between 15.80 support and 16.30 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 Technical Outlook: Gold Prices Meltdown into Q2 Close

Gold prices has made fresh yearly lows three of the last five trading days with the decline now approaching our secondary support target. While prices may see a near-term reprieve from the recent selling-pressure, the broader risk remains weighted to the downside for bullion. Here are the levels that matter for XAU/USD heading into the close of the week/month.Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold prices touch one-week high on softer U.S. dollar

BENGALURU (Reuters) - Gold prices rose to a one-week high on Wednesday, rebounding from a seven-month low touched in the previous session, as a softer U.S. dollar stoked demand for the yellow metal.

Gold firms in rebound session ahead of holiday break

Gold futures finished sharply higher Tuesday, clawing back from a steady decline that had pushed the commodity early this week to its lowest finish since December, as a brawny dollar paused its advance.Industrial metals, meanwhile, remained in focus, amid trade friction and questions about China’s economic expansion. Platinum prices posted a Tuesday rebound after marking their lowest settlement since late 2008. Copper prices extended losses to a fifth straight session.

De Beers to launch synthetic diamond jewellery in United States to shake up gemstone market

The move will dramatically slash the cost of lab grown diamond jewellery, which is currently around one third to half the price of natural diamonds. De Beers created the slogan of the century, A Diamond is Forever, which represented a diamond ring as a symbol of eternal love. But now the allure of natural diamonds is being challenged by the rising quality of synthetics.

Gold prices fall for third day in a row, silver declines

New Delhi: Gold prices fell further Rs 20 to Rs 31,400 per 10 grams on Monday following weak global cues and slowing demand from local jewellers, reported PTI. In global markets, gold prices edged lower as the US dollar firmed after US inflation data supported the US Federal Reserve’s outlook for future interest rate increases. In Delhi, gold rate of 99.9% and 99.5% purity declined by Rs 20 each to Rs 31,400 and Rs 31,250 per 10 grams, respectively. The precious metal had lost Rs 230 in the previous two sessions.

Gold and copper futures sink to 2018 lows

Gold futures settled sharply lower Monday as the dollar gained to start a new quarter of trading, keeping precious metals prices pinned at 2018 lows. Meanwhile, platinum futures marked their lowest settlement since late 2008 and copper prices finished at their lowest since September against a backdrop of global trade concerns.

PNB fraud case: Jewellery seized from Mehul Choksi firm is just 3 per cent of book value

An independent valuation of the gems and jewellery seized from Mehul Choksi-owned Hyderabad Gems SEZ Ltd has pegged its value at about Rs 103 crore, which is less than 3 per cent of the value of Rs 3,840 crore declared in the firm’s books, sources told The Indian Express.The government-approved valuer has also valued the gems and jewellery seized by the Enforcement Directorate (ED) from 130 shops, factories and warehouses of Choksi-promoted Gitanjali Group at Rs 597 crore, down 53 per cent from its book value of about Rs 1,280 crore declared in the books of Gitanjali Group firms.

Gold bounces from seven-month low as dollar softens

NEW YORK/LONDON (Reuters) - Gold prices recovered from a near seven-month low and platinum bounced from close to a 10-year low on Tuesday as the dollar eased. Spot gold gained 0.9 percent to $1,252.96 an ounce at 1:42 p.m. EDT (1742 GMT). Earlier, bullion prices dropped to $1,237.32, their lowest since Dec. 12, 2017. U.S. gold futures for August delivery settled up $11.80, or 1 percent, at $1,253.50 per ounce.

Gold Prices Dip For Fourth Straight Day: 5 Points

Gold prices declined by Rs. 40 to Rs. 31,360 per 10 grams on Tuesday, driven by a weak trend overseas amid fall in demand from local jewellers, reported news agency Press Trust of India (PTI). Silver followed suit and shed Rs. 50 to Rs. 40,300 per kg due to reduced offtake by industrial units and coin makers, according to the agency. Marketmen said that apart from a weak trend overseas, a fall in demand from local jewellers and retailers at the domestic spot market mainly kept gold prices lower.

Gold Rate Today: Gold, silver trade mixed in morning deals

Holdings of SPDR Gold Trust said its holdings fell 1.19 per cent to 809.31 tonnes on Monday. NEW DELHI: Precious metals gold and silver were trading mixed in the late morning deals on Tuesday. MCX Gold futures were trading 0.08 per cent, or Rs 25 lower at Rs 30,264 per 10 grams at 11:41 am (IST), while MCX Silver futures were up 0.29 per cent, or Rs 113, at Rs 38,750 per 1 kg at the same time.

Gold, silver futures rise on positive global cues

Silver futures rise 0.30 pc on global cues

IBJA’s Free Privileged Gold Membership

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.

IBJA members can contact our Gujarat regional office for any queries / suggestions regarding IBJA in the west region.
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

India Bullion and Jewellers Association Ltd.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.

Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459

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