7th November, 2017

Daily Market Rates

India A.M. (7-11-17)

999 Gold - Rs. 29,445/-
995 Gold - Rs. 29,295/-
916 Gold - Rs. 26,972/-
750 Gold - Rs. 22,084/-
585 Gold - Rs. 17,225/-
999 Silver - Rs. 39,565/-





India P.M. (6-11-17)

999 Gold - Rs. 29,265/-
995 Gold - Rs. 29,115/-
916 Gold - Rs. 26,807/-
750 Gold - Rs. 21,949/-
585 Gold - Rs. 17,120/-
999 Silver - Rs. 38,995/-

Tuesday, November 7

The Reserve Bank of Australia is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision.
The UK is to publish industry data on house price inflation.
European Central Bank President Mario Draghi is to speak at an event in Frankfurt.
Later in the day, Bank of Canada Governor Stephen Poloz is to deliver remarks in Montreal.

Daily Gold Market Report

Gold tests the resistance – Analysis - 07-11-2017
Gold price tested 1281.17 level and keeps its stability below it, accompanied by witnessing clear overbought signals through stochastic, to support the strength of the mentioned level and keeps the bearish trend scenario active for the upcoming period, waiting to rebound bearishly to test 1263.15 level mainly. Therefore, we will continue to suggest the bearish trend for today, and breaking 1275.00 level will ease the mission of achieving the waited targets, while breaching 1281.17 represents the first key to regain the main bullish trend again. Expected trading range for today is between 1263.00 support and 1290.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver attempts positively – Analysis - 07-11-2017
Silver price provided positive trading yesterday to move above 17.00 barrier again, approaching from our first waited target at 17.43, to keep the bullish trend valid on the intraday and short term basis, waiting to breach the last level to confirm extending the bullish wave towards 18.30. We should note that the continuation of the expected rise depends on holding above 16.56, as breaking it will push the price to visit 15.49 areas before any new attempt to rise. Expected trading range for today is between 17.00 support and 17.43 resistance. Expected trend for today: Overall Bullish

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Proposal for Photocard for Hallmarked Jewellery

Gold, Silver See Solid Rallies On Safe-Haven Demand, Rising Oil

(Kitco News) - Gold and silver prices were ending the U.S. day session with good gains Monday. The metals were supported by a combination of safe-haven demand and surging crude oil prices that have hit a two-year high. December Comex gold was last up $13.30 an ounce at $1,282.50. December Comex silver was up $0.401 at $17.235 an ounce.

Silver futures down Rs 61, hurt by global cues

New Delhi, Nov 7 (PTI) Taking weak cues from overseas markets, silver prices eased by Rs 61 to Rs 40,473 per kg in futures trading today, as participants cut down their bets. At the Multi Commodity Exchange, silver for delivery in far-month March next year dropped by Rs 61, or 0.15 per cent, to Rs 40,473 per kg, in a business turnover of 49 lots.

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

Gold was trading higher in morning trade on Tuesday on account of demand of the precious metal from jewellers and retailers. MCX Gold futures were up 0.18 per cent at Rs 29,397 per 10 gram around 10.55 am (IST).

Demonetisation spoils gold appetite, demand falls

Kolkata: ndia's appetite for gold has dropped by 25% since demonetisation was announced by the Modi government last November.Bullion traders and jewellers said that while unaccounted money stopped coming in the B2B gold trade, it has not completely disappeared from B2C transactions.


Gold dips on profit-taking

Gold inched down on Tuesday after investors sold bullion to lock in profits following the nearly 1 per cent gain in the previous session on safe-haven buying on concerns over corruption arrests that targeted royal family members and ministers in Saudi Arabia. Spot gold was down 0.2 per cent at $1,279.62 per ounce at 0415 GMT. The metal jumped nearly 1 per cent on Monday in its biggest one-day percentage gain since September 25 and also moved above its 100-day moving average then, typically seen as a bullish signal by technical traders.

Expect Gold to trade sideways: Sushil Finance

Gold rose more than 1 percent on Monday, extending gains as geopolitical risks drove investors to safe - haven assets after the metal's third - straight weekly decline. Saudi Arabia's future king, Crown Prince Mohammed bin Salman, tightened his grip on power through an anti - corruption purge by arresting royals, ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom's most prominent businessmen. Gold has drifted lower over recent weeks, pulling back 2.5 percent from its mid - October peak as expectations for a Fed interest rate increase were shored up by upbeat U.S. data. Bullion is highly sensitive to rising U.S. rates, as these increase the opportunity cost of holding non - yielding bullion while boosting the dollar, in which it is priced.

Gold and Treasuries in demand amid geopolitical uncertainties

Geopolitical risk was once again back on investors’ radar, with gold and US government bonds in demand on Monday after Saudi Arabia’s leadership moved over the weekend to consolidate power around its young crown prince. Uncertainty over the geopolitical fallout from the kingdom’s arrests of dozens of princes and business tycoons pushed yields on the benchmark 10-year Treasury down nearly 3 basis points to 2.3127 per cent, its lowest level in over two weeks. Yield moves inversely to price.

PRECIOUS-Gold dips amid firmer Asian stocks

Nov 7 (Reuters) - Gold inched down early Tuesday after gaining nearly one percent in the previous session, easing as firmer Asian stocks marked a 10-year peak.FUNDAMENTALS * Spot gold was down 0.1 percent at $1,280.24 per ounce at 1252 GMT. The metal jumped nearly one percent on Monday on geopolitical risks in its biggest one-day percentage gain since Sept. 25. * U.S. gold futures for December delivery dipped 0.1 percent to $1,280.90. * Asian shares touched their highest in a decade on Tuesday, MSCI's broadest index of Asia-Pacific shares outside Japan edging up 0.3 percent in early trade.

Man held for bid to smuggle gold in powder form

The Customs sleuths at Coimbatore International Airport on Monday detained a passenger who attempted to smuggle around 878.21g of gold in powder form by concealing the same using fake bandages around ankles. Abdul Kareem, 38, from Nilambur in Malappuram district of Kerala, landed in custody of the Customs on arrival here from Sharjah in an Air Arabia flight at 4.30 a.m.

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