7th September, 2017

Thursday, September 7

Australia is to release data on retail sales and the trade balance.
The UK is to publish industry data on house price inflation.
The ECB is to announce its latest monetary policy decision and President Mario Drahi is to hold a press conference.
The U.S. is to report on initial jobless claims.

Daily Gold Market Report

Gold gets a positive signal – Analysis - 07-09-2017
Gold price fluctuates around the bullish channel's resistance that appears on chart, witnessing signs of intraday bullish channel that its support line located at 1327.80, as the price needs to hold above this level to keep the chances of continuing the bullish trend in the upcoming period. Stochastic begins to provide positive overlapping signal on the four hours' time frame, thus, we believe that the way is open to resume the bullish trend in the upcoming sessions, which its next main target located at 1353.00, noting that breaking 1327.80 will push the price to test 1305.15 level before any new attempt to rise. Expected trading range for today is between 1325.00 support and 1353.00 resistance. Expected trend for today: Bullish

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Proposal for Photocard for Hallmarked Jewellery

Gold breaks above $1,300; should we take contrarian call?

Gold prices have hit 100-month high as North Korea has confirmed to have tested a new, more powerful, nuclear weapon. One of the contributing factors that have pushed gold above its resistance of $1,300 is the heightening tension between North Korea and US. In 2017, Gold had failed to push above $1300 thrice and now it has comfortably broken and is trading above that level.

Gold options trading to kick off before Diwali; technical glitch sorted: MCX

NEW DELHI: MCX on Wednesday said it would launch trading in gold options between October 5 and October 15 (before Diwali). The commodity exchange, which witnessed a trading glitch for almost an hour on Monday, said that the issue has been identified, isolated and taken care of.

Gold halts 3-day rise, sheds Rs 50 on weak demand

Gold holds steady amid softer dollar

Gold Pauses But Fundamentals, Charts Remain Bullish

(Kitco News) - Gold prices are hovering right around unchanged on the day, in early U.S. dealings Wednesday. The bulls are taking a breather after recent solid gains that saw prices hit an 11-month high Tuesday. There are still bullish technical and fundamental elements in place that will likely continue to boost the gold market for at least the near term. December Comex gold was last down $0.20 an ounce at $1,344.50. December Comex silver prices were last up $0.094 at $18.035 an ounce.

Lalbaugcha Raja gets 1kg gold brick, Rs 5 crore

MUMBAI: The coffers of Labaugcha Raja Ganeshotsav Mandal got filled to capacity despite the interruption caused by rain. Devotees, who were unable to visit during the first six days of Ganeshotsav, thronged the pandal on the final weekend, boosting footfall and collections.

Gold making a comeback! Don’t let North Korea missile hit your portfolio, invest in gold via ETFs

An insight into the causes for the rise and fall in gold prices and the ETF options for retail investors. For decades, gold is considered as an alternate asset class to traditional forms of investment, in addition to being a store of value, hedge against rising inflation, safe haven asset and for some an asset that can convert to cash anytime.

From Gold Statue to Suitcase Cash, Police Find Bizarre Hauls

From a gold statue of the late Chinese leader Mao Zedong, to cash worth $131 million in a Moscow apartment—these are just two among colorful hauls of banknotes and other gains across the world. Here’s a look at some notable seizures in recent years. Brazilian police found suitcases and cardboard boxes bursting with bills this week in the country’s largest-ever cash seizure. The $16.4 million haul was dubbed the “Lost Treasure” and was unearthed in an apartment allegedly used by Geddel Vieira Lima, a cabinet minister until last year.

Gold prices recover on renewed buying, silver surges

Mumbai: Gold prices recovered by Rs120 per ten grams at the bullion market on Wednesday in sync with a firm global trend amid persistent buying by local jewellers. Silver also advanced by Rs145 per kg backed by increased offtake by industrial units.

Gold recovers on renewed buying, silver surges

Mumbai: Gold prices recovered by Rs 120 per ten grams at the bullion market here today in sync with a firm global trend amid persistent buying by local jewellers. Silver also advanced by Rs 145 per kg backed by increased offtake by industrial units. Standard gold (99.5 purity) moved up by Rs 120 to close at Rs 30,190 per 10 grams from Tuesday’s closing level of Rs 30,070.

Drilling Expands Silver Company's Resource Area

In an Aug. 30 research report, BMO Capital Markets analyst Andrew Kaip explained the impact of Endeavour Silver Corp.'s (EDR:TSX; EXK:NYSE; EJD:FSE) results from "nine drill holes from the Santa Cruz vein at Guanaceví," one of its three mines in Mexico. He wrote that "these holes extend the boundaries of the current resource area with the highlight hole grading 786 g/ton silver and 0.71 g/ton gold over 3.4m."

Gold is Headed to $1,500 by Year End

A confluence of factors has been pushing the price of gold higher over the past few weeks and I believe it is headed for $1,500 by the close of 2017. After hitting a low around $1,200 in July, the price of gold has since advanced by more than 10% or $140 to $1,340. The chart shows a significant breakout through both the 100 and 200-day moving averages over the past month. More importantly, gold pierced trend-line resistance that had been in place for over a year.

BRICS for gold: a dollar-smashing monetary revolution

The summer-long border dispute between India and China in Doklam/Donglang threatened to upstage the BRICS summit, with some even speculating that Indian Prime Minister Narendra Modi would back out of the summit at the last minute. Instead, the dispute thawed at the last minute, with both sides making vague but hopeful pledges to engage in direct dialogue in order to avoid such flare-ups in the future. It is anyone’s guess how long this placidity will last, but the epic divide between Modi and Chinese President Xi Jinping that many had expected – and that those who wish failure upon the BRICS hoped for – didn’t amount to a ton of bricks.

Update: TSX Declines 30 Points as Gold Prices Fall; Loonie Surges as BoC Surprises with Rate Hike

Gold in exchange-traded funds backed by physical metal up, but still shy of high

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