6th September, 2017

Daily Market Rates

India A.M. (06-09-17)

999 Gold - Rs. 30,395/-
995 Gold - Rs. 30,245/-
916 Gold - Rs. 27,842/-
750 Gold - Rs. 22,796/-
583 Gold - Rs. 17,781/-
999 Silver - Rs. 40,880/-

 

 

 

 



India P.M. (05-09-17)

999 Gold - Rs.30,225/-
995 Gold - Rs. 30,070/-
916 Gold - Rs. 27,686/-
750 Gold - Rs. 22,669/-
585 Gold - Rs. 17,565/-
999 Silver - Rs. 40,740/-

Wednesday, September 6

Australia is to release data on second quarter economic growth.
Canada is to release reports on the trade balance and labor productivity.
Later in the day, the Bank of Canada is to announce its benchmark interest rate and publish a rate statement. The U.S. is to publish figures on the trade balance and the Institute for Supply Management is to publish its manufacturing index.

Daily Gold Market Report

Gold resumes rising – Analysis - 06-09-2017
Gold price provided positive trading yesterday's evening in attempt to move away from the previously breached resistance of the bullish channel that appears on chart, reinforcing the expectations of achieving more gains in the upcoming period, waiting to touch the main bullish channel's resistance at 1353.00. The EMA50 continues to carry the price from below, to support our expetations of continuing the bullish trend in the upcoming period, taking into consideration that breaking 1335.00 and holding below it might push the price to test 1295.37 areas before any new attempt to rise. Expected trading range for today is between 1330.00 support and 1353.00 resistance. Expected trend for today: Bullish

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Proposal for Photocard for Hallmarked Jewellery

Gold, silver lackluster in early trade

Gold and silver were trading on a flat note in morning deals on Wednesday on account of lacklustre demand in precious metals from jewellers and industries. MCX Gold futures was up 0.02 per cent at 30,229 per 10 gram around 10.25 am (IST), while MCX Silver futures was up 0.08 per cent at Rs 41,455 per 1 kg at around the same time.

Seventy-eight billion reasons why Bitcoin's the new gold

The idea has a lot of intuitive appeal. Gold bugs and bitcoin fetishists tend to share a deep distrust of fiat currency and the nation state, an impregnable bullishness about their favored asset class, and an obsessive attention to details of market movements combined with a blithe disinterest in bigger-picture issues.

Gold rises on positive global cues

Commentary: I’m not buying gold until this happens

Gold jumps to one-year high as geopolitical risks grow

NEW YORK/JOHANNESBURG (Reuters) - Gold prices climbed to a one-year high on Tuesday as the U.S. dollar eased and safe-haven buying demand remained robust due to continued concerns over North Korea’s nuclear tests. Wall Street stocks fell as U.S. trading reopened for the first time since North Korea’s biggest nuclear bomb test yet, and the U.S. dollar and Treasury yields fell. [MKTS/GLOB]

12 Reasons Gold Is Better Than Bitcoin

The world has gone wild for the cryptocurrency known as Bitcoin. One Bitcoin would set you back $4,425 at the time of writing. That's up from less than $600 a year ago, according to CoinBase. But a word of caution: Gold is still a better bet for anyone who wants to own a time-tested asset.

Australian gold index climbs as yellow metal reaches 12-month high

The index for Australian gold miners was near a five month high on Wednesday as the price of the precious metal hovered at a its highest point in a year. The S&P/ASX All Ordinaries Gold Index was up as much as 1.6 per cent, the highest since April 13. Among the gainers was Evolution Mining, up 3.12 per cent.

Gold up for fifth straight day as geopolitical concerns persist

Gold was up for a fifth day on Wednesday as geopolitical risks over North Korea remained elevated, and as low U.S. inflation concerns left some Federal Reserve officials backing delays in further interest rate hikes. FUNDAMENTALS * Spot gold was up 0.1 percent at $1,339.87 per ounce by 0101 GMT, after touching its highest level since early September at $1,344.21 in the previous session.

Gold Hits 11-Mo. High On Geopolitics, Bullish Charts

(Kitco News) - Gold prices are higher and hit another 11-month high in early U.S. trading Tuesday. Rising tensions between the U.S. and North Korea are fueling safe-haven demand for gold. Strong buying interest from the technically based traders is also pushing gold and silver prices north. December Comex gold was last up $5.90 an ounce at $1,336.30. December Comex silver prices hit a four-month high overnight and were last up $0.164 at $17.98 an ounce.

Gold, silver rise on global cues

Gold prices were higher by Rs 103 to Rs 30,208 per 10 grams in futures trade today as speculators widened their positions on positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 103, or 0.34 per cent, at Rs 30,208 per 10 grams, in a business turnover of 426 lots.

Gold Heads For The 2016 Highs

Gold is a metal, a commodity, but it is much more. Gold is the oldest currency in the world as it predates all of the foreign exchange instruments in circulation today. Gold’s long and storied history as a means of exchange, store of value, and symbol of wealth places the yellow metal in a class by itself. While they tend not to discuss the role of gold in the modern global economic environment, most governments, central banks, monetary authorities, and supranational institutions hold gold as an integral part of their foreign exchange reserves.

Silver, the Bargain of the Century, sure to Explode after Gold Breakout

Gold recently cracked through the $1,300 resistance level. Geopolitical instability continues to push the yellow metal higher as investors seek safe haven. But as the spotlight shines on gold, it’s important not to forget about silver. Analysis shows it may well be the bargain of the century.As Peter Schiff said in his most recent Gold Videocast highlighting the gold breakout, “$1,310 is still a low price for gold relative to where it is going. And of course, silver is an even better buy.”

Dubai gold prices soar further: Time to sell?

Dubai: Gold’s winning streak continued on Tuesday as safe-haven demand further increased on global tensions. The price of 24K gold in Dubai climbed higher to hit Dh161.75 per gram, and fresh buyers in the UAE have found themselves spending nearly Dh23 more per gram than they would have in the beginning of the year.

Gold Prices Ease at 2-Year Yen High as Japan Plans Evacuation, N.Korea Prepares for Foundation Day

Gold Has Shattered a 10-Year Chart Formation


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