5th July, 2018

Daily Market Rates

India A.M. (05-07-18)

999 Gold - Rs. 30,620/-
995 Gold - Rs. 30,470/-
916 Gold - Rs. 28,048/-
750 Gold - Rs. 22,965/-
585 Gold - Rs. 17,913/-
999 Silver - Rs. 39,295/-





India P.M. (04-07-18)

999 Gold - Rs. 30,660/-
995 Gold - Rs. 30,510/-
916 Gold - Rs. 28,085/-
750 Gold - Rs. 22,995/-
585 Gold - Rs. 17,936/-
999 Silver - Rs. 39,280/-

Thursday, July 5

Bank of England Governor Mark Carney is to speak.
The U.S. is to release the ADP nonfarm payrolls report as well as the weekly report on initial jobless claims and the ISM is to publish its non-manufacturing index.
Later in the day, the Federal Reserve is to publish the minutes of its June meeting.

Daily Gold Market Report

Gold price around the moving average – Analysis - 05-07-2018
Gold price fluctuates around the EMA50 that forms negative obstacle against the price attempts to rise, while stochastic shows negative signals on the four hours’ time frame. As long as the price is below 1267.00, our bearish overview will remain active, as breaching this level is considered as the first positive key to regain the main bullish trend, while our next 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 loses momentum – Analysis - 05-07-2018
Silver price keeps its stability below 16.15 level, while stochastic loses its positive momentum gradually to head towards the overbought areas. Therefore, we will continue to suggest the bearish trend in the upcoming sessions, depending on the price stability below 16.15, reminding you that our main 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

Gold Analysis: Breaks patterns and reaches above 1,250.00

The bullion broke the upper trend line of the long term descending channel, which had pierced a dominant support level. The most notable aspect about the move is that the bullion did not even stop at the 55 and 100–hour simple moving averages, which were providing resistance. Moreover, the upper trend line of the descending pattern was also ignored. Only the 200-hour SMA provided some sort of significance, as it forced a short lived retreat of the metal.

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 surge today after 4-day fall

New Delhi: Gold prices jumped by Rs 210 to Rs 31,570 per 10 grams on Wednesday, mainly supported by a strong global sentiment amid a pick-up in demand by local jewellers, reported PTI. Globally, gold prices hit a one-week high, rebounding from this week’s seven-month low, helped by a softer dollar and smouldering trade tensions, though the move was limited ahead of US jobs data. In Delhi, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 210 each to Rs 31,570 and Rs 31,420 per 10 grams, respectively. It had lost Rs 290 in the previous four days.

Gold prices jump Rs 210 to Rs 31,570 per 10 grams on local demand, global cues

If you were planning to make most of the falling gold prices and indulge in some retail therapy, you've unfortunately missed your window of opportunity. Gold prices surged by Rs 210 to Rs 31,570 per 10 grams at the bullion market on Wednesday. According to traders, sentiment bolstered at home after gold prices rose to a one-week high in global markets, rebounding from a seven-month low touched in the previous session. Globally, gold is currently up 0.45 per cent at 1,257.31 an ounce, after reportedly touching a one-week high of $1,261.10 earlier in the day.

Gold seized since 2016 remains unclaimed at Chandigarh airport, say officials

In around 30 cases of gold seizures from persons acting as “couriers” at Chandigarh International Airport since it started international flight operations in September 2016, no one has come forward to claim the yellow metal so far, Customs department and Directorate of Revenue Intelligence (DRI) officials have said. According to the DRI more than 15 kilograms of gold have been seized this year alone.

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.

Gold Prices Surge After 4-Day Fall: 5 Things To Know

New Delhi: Gold prices surged by Rs. 210 to Rs. 31,570 per ten grams at the bullion market on Wednesday, largely driven by a firm trend overseas amid pick-up in buying by local jewellers, reported news agency Press Trust of India. However, silver remained under selling pressure and slipped below the Rs. 40,000-mark by plunging Rs. 390 to Rs. 39,910 per kg. Traders said sentiment bolstered after gold prices rose to a one-week high in global markets, rebounding from a seven-month low touched in the previous session, as a softer US dollar stoked demand for the yellow metal.

Gold making attempts to recover but dollar likely to play spoilsport

Gold on comex has tumbled to $1,250. The bulls are making a feeble attempt to recoup their losses, but gold’s major nemesis, the dollarNSE -0.25 %, refuses to lie low. The yellow metal right now is one of the commodities that can’t catch a break. It’s not getting benefits from the ongoing trade war, and even the recent pullback from DXY (the dollar Index) has not propelled gold prices up.

Stocks Down, Gold Up 98% of the Time

Over the past half-century, gold has risen very nearly every time that the US stock market fell over a 5-year period. Such protracted losses in stocks are no small risk. Or so history says. On a weekly basis, data show the S&P500 price index trading below its level of 5 years earlier 23.3% of the time since 1968. On those occasions, the stock market's average 5-year loss was 11.6%.

Gold Prices Steady On Softer Dollar Ahead Of Fed Minutes

BENGALURU, July 5 (Reuters) - Gold prices were little changed early on Thursday, after hitting a one-week high in the previous session, as the dollar eased and the markets awaited minutes from the U.S. Federal Reserve's June policy meeting later in day. FUNDAMENTALS * Spot gold XAU= held steady at $1,256.02 an ounce as of0047 GMT. The metal touched a one-week high at $1,261.10 in the prior session and gained over $20 from Tuesday's low of$1,237.32 an ounce, which was its weakest since Dec. 12. * The dollar index .DXY= , which measures the greenback against a basket of six major currencies, was 0.1 percent lower at 94.565. USD/ * Investors are awaiting the outcome of a two-day U.S.Federal Reserve policy meeting to be announced at 2 p.m. EDT(1800 GMT) FED/DIARY

Gold Is Not Benefiting From Trade Wars Because Of This One Factor - CME Group

UBS Is Looking Past Gold’s Short-Term Weakness

IBJA’s Free Privileged Gold Membership

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