9th November, 2017

Daily Market Rates

India A.M. (9-11-17)

999 Gold - Rs. 29,565/-
995 Gold - Rs. 29,415/-
916 Gold - Rs. 27,082/-
750 Gold - Rs. 22,174/-
585 Gold - Rs. 17,296/-
999 Silver - Rs. 39,530/-

 

 

 

 



India P.M. (8-11-17)

999 Gold - Rs. 29,535/-
995 Gold - Rs. 29,385/-
916 Gold - Rs. 27,054/-
750 Gold - Rs. 22,151/-
585 Gold - Rs. 17,278/-
999 Silver - Rs. 39,580/-

Thursday, November 9

China is to release inflation data.
 Canada is to produce data on new house price inflation.
The U.S. is to release the weekly report on initial jobless claims.
Swiss National Bank Chairman Thomas Jordan is to speak at an event in Frankfurt.

Daily Gold Market Report

Gold breaches the resistance – Analysis - 09-11-2017
Gold price closed yesterday's trading above 1281.17 level, which opens the door to stop the correctional bearish pressure that dominated the recent trades and return to the main bullish trend, waiting to head towards 1299.20 level initially, noting that breaching this level will push the price towards 1321.49 as a next main station. Therefore, we expect the price to head to achieve gains in the upcoming sessions, supported by the EMA50 that carries the price from below, taking into consideration that breaking 1281.17 and holding below it again will push the price to decline and test 1263.15 areas again. Expected trading range for today is between 1270.00 support and 1295.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver within the tight range – Analysis - 09-11-2017
Silver price hovers around the EMA50, while stochastic attempts to get rid of its negativity and gain the positive momentum on the daily time frame, waiting to get positive motive that assists to push the price to continue the main rise. Therefore, we will continue to suggest the bullish trend in the upcoming period conditiond by holding above 16.56 level, reminding you that the waited targets begin at 17.43 and extend to 18.30 after breaching the previous level. Expected trading range for today is between 16.90 support and 17.43 resistance. Expected trend for today: Overall Bullish

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Technical Buying Boosts Gold, Silver Prices

(Kitco News) - Gold and silver prices posted good gains Wednesday, with gold scoring a three-week high. The gold market saw a bullish upside "breakout" from a sideways trading range on the daily bar chart, which prompted technically oriented traders to step in on the buy side. Buy stop orders were also triggered in the gold futures market on today's advance. December gold was last up $9.40 at $1,285.20. December silver was up $0.20 at $17.14.

Silver futures succumb to profit-booking, down Rs 120/kg

Silver prices tumbled Rs 120 to Rs 40,502 per kg in futures trade today as speculators cut their holdings to book profits at existing levels. However, a firm trend in precious metals in global market kept losses limited. Silver for delivery in March next year was trading sharply lower by Rs 120, or 0.30 per cent, at Rs 40,502 per kg, in a business turnover of 20 lots in futures trading at the Multi Commodity Exchange (MCX).

Could A Commodity Rally Help Spark Silver?

While it is widely believed that commodities are one of the few "undervalued" sectors, sustained rallies have been hard to find over the past few years. Could all that be finally beginning to change?

Gold Demand In India Seen Falling To Lowest In 8 Years In 2017

Mumbai: India's gold consumption is likely to drop to its lowest in eight years in 2017, hit by government moves to make bullion trading more transparent and by faltering demand from rural areas, the World Gold Council (WGC) said on Thursday. Evidence of weaker appetite in a country where gold is used in everything from investment to wedding gifts could drag on global prices that have been hovering near their highest in three weeks. India is the world's No.2 consumer of gold behind China.

 

Gold little-changed; palladium holds near multi-year peaks

BENGALURU, NOV 9: Gold prices held largely steady on Thursday after marking a near three-week high in the previous session, while palladium remained close to a more than 16-year peak touched on Wednesday. Spot gold was little changed at $1,281.21 per ounce at 0410 GMT, amid a steady dollar. On Wednesday, it rose 0.4 per cent and touched its highest since October 20 at $1,287.13 an ounce. US gold futures for December delivery dipped 0.1 per cent to $1,282.

Gold rate today: Gold, silver trade lower in morning deals

NEW DELHI: Gold and silver were trading lower in early trade on Thursday on a weak appetite for precious metals on Thursday. MCX Gold futures were down by 0.20 per cent, or Rs 60, at Rs 29,475 per 10 gram, while MCX Silver futures were down by 0.35 per cent, or Rs 140, at Rs 39,748 per 1 kg. Consumption of the yellow metal is likely to fall to its lowest level in eight years in 2017, hit by government moves to make bullion trading more transparent and by faltering demand from some rural areas, the World Gold Council (WGC) said on Thursday.

2018 Will Be A Good Year For Gold Prices - Analysts

(Kitco News) - There are doubts that the Federal Reserve will actually hike U.S. interest rates as much as policymakers think, leaving many analysts bullish on gold for 2018. They also cite potential for geopolitical flare-ups, improving physical demand in key buying nations India and China, and investment demand as a hedge against any correction in soaring stocks. Bears, meanwhile, cite a view that the U.S. economy will remain strong enough that Fed policymakers will in fact hike as much as they’ve hinted.

Gold prices to trade flat: Angel Commodities

On Wednesday, spot gold prices rose 0.43 percent to close at $1280.9 per ounce hovering near a three - week high as the dollar retreated on expectations of possible delays in long - awaited U.S. tax reforms, while palladium hit its highest since 2001. U.S. House of Representatives Speaker Paul Ryan left the door open to a possible delay in implementing lower tax rates for corporations, following a media report that his fellow Senate Republicans were exploring the option. On the MCX, gold prices rose by 0.44

The Scouting Party And Gold

For the second time this week, gold has traded and closed above a current level of resistance residing at roughly $1280 per ounce. This follows the last two weeks of market activity in which gold pricing has been stuck in a defined narrow range between $1262 (support) and $1280 (resistance).

Gold Price Expectations After The December Rate Hike

UAE’s VAT on gold jewellery will be on the entire piece


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