9th July, 2018

Daily Market Rates

India A.M. (09-07-18)

999 Gold - Rs. 30,705/-
995 Gold - Rs. 30,555/-
916 Gold - Rs. 28,126/-
750 Gold - Rs. 23,029/-
585 Gold - Rs. 17,962/-
999 Silver - Rs. 39,505/-





India P.M. (06-07-18)

999 Gold - Rs. 30,680/-
995 Gold - Rs. 30,530/-
916 Gold - Rs. 28,103/-
750 Gold - Rs. 23,010/-
585 Gold - Rs. 17,948/-
999 Silver - Rs. 39,295/-

Monday, July 9

Bank of Japan Governor Haruhiko Kuroda is to speak at an event in Tokyo.
Bank of England Deputy Governor Ben Broadbent is to speak at an event in London.
European Central Bank President Mario Draghi is to testify about the economy, monetary policy, and virtual currencies before the European Parliament in Brussels.

Daily Gold Market Report

Midday update for Gold 09-07-2018
Gold price trades positively now to approach the key resistance at 1267.00, accompanied by stochastic reach the overbought areas, to form negative motivate that we expect to assist to push the price to decline again, which keeps the bearish trend valid for the upcoming period, conditioned by the price stability below the mentioned level, noting that 1234.41 level represents our main waited target. Expected trading range for today is between 1240.00 support and 1267.00 resistance. Expected trend for today: Overall bearish

Daily Silver Market Report

Midday update for Silver 09-07-2018
Silver price attempts to breach 16.15 level, which urges caution from the upcoming trading, as breaching this level will stop the recently suggested decline and put the price within the sideways track again. Until now, the bearish trend scenario will remain valid unless the price witnessed a daily close above 16.15, waiting visit 15.49 level as a next main station. 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 prices hit two-week high on short covering, weaker dollar

GOLD BENGALURU: Gold prices hit a near two-week high on Monday as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering US -Sino trade tensions also supported the bullion. Spot gold was up 0.5 per cent at $1,260.41 an ounce, as of 0708 GMT, after touching its highest since June 26 at $1,262.06. US gold futures for August delivery were 0.5 per cent higher at $1,261.70 an ounce.

Gold Price Forecast: Sellers Will Take Advantage of Limited Gains

The dollar has continued to show signs of losing momentum against European currencies, which will limit the scope for gold selling unless there is an extremely strong U.S. CPI release and pressure for the Fed to accelerate monetary tightening. Gains are still likely to attract selling interest quickly with no evidence yet of a sustained recovery.

Why Has Gold Not Lived Up To Its Status As A Safe Haven?

Stock markets in New York, London and Shanghai have been sliding for a month now since President Donald Trump unleashed a trade war on the U.S.'s trading partners in an effort to reset terms seen as unfair by Washington. Normally, as stock markets slide and tensions rise, you would expect to see the gold price rise; the precious metal is considered a safe-haven asset because it retains or increases value during market turbulence.

XAU/USD Technical Outlook: Gold Price Relief or Larger Recovery?

Gold responded to confluence support this week with prices rallying nearly 2% off the lows- so is a more significant low in place? The verdict is still out - but the technicals are clean. Here are the levels that matter for XAU/USD heading deeper into June trade. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold price falls ₹40 on global cues, muted demand

New Delhi: Gold prices went down by ₹40 to ₹31,650 per 10 grams in Delhi bullion market on Saturday, driven by a weak trend overseas amid easing demand from local jewellers, reported PTI. Marketmen said besides weak global cues, a fall in demand from local jewellers and retailers at existing levels in the domestic spot market, mainly weighed on the gold prices, the agency reported.

India's June gold imports drop by a quarter as rupee hits record low

MUMBAI (Reuters) - India’s gold imports fell for a sixth month in June to 44 tonnes as a drop in the rupee to record lows lifted local prices to a near 21-month high, curtailing demand, provisional data from GFMS analysts at Thomson Reuters and bank dealers showed.

Hyderabad: Gold, silver found in bank lockers

Hyderabad: ACB sleuths seized 3.6 kg gold and 4 kg silver from the three lockers owned by accused Irrigation and CAD Chief Engineer K. Suresh Kumar. The government officer was booked and arrested by the ACB on July 6, in a disproportionate assets case. The ACB carried out searches on Friday and unearthed unmovable properties in Hyderabad and Karimnagar.

Silver rises on increased offtake, global cues, gold ends flat

New Delhi, Jul 9 (PTI) Silver prices went up by Rs 250 to Rs 40,750 per kg at the bullion market today following increased offtake by industrial units and coin makers coupled with firm global cues. Gold, on the other hand, held steady at Rs 31,650 per 10 grams in scattered deals. Traders said besides increased offtake by industrial units and coin makers at the local spot market, a firm trend overseas, mainly led to the rise in silver prices.

Silver futures rise 0.34% on global cues

New Delhi, Jul 9 (PTI) Tracking a firm trend overseas, silver prices rose by 0.34 per cent to Rs 39,903 kg in futures market today as speculators created fresh positions. At the Multi Commodity Exchange, silver for delivery in September gained Rs 137, or 0.34 per cent, to Rs 39,903 per kg in a business turnover of 583 lots. Likewise, the white metal for delivery in July contracts was trading higher by Rs 130, or 0.32 per cent, at Rs 40,737 per kg in 7 lots.

Gold futures rise to Rs 30,622 on firm global cues

Gold prices went up by 0.2 per cent to Rs 30,622 per 10 grams at the futures trade as speculators built up fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 62 or 0.20 per cent to Rs 30,622 per ten grams in a business turnover of 167 lots. Similarly, the yellow metal for delivery in October was trading higher by Rs 38, or 0.12 per cent, at Rs 30,900 per ten grams in 5 lots.

Centamin says gold production fell by 25% in Q2

Gold / Silver / Copper Prices - Weekly Outlook: July 9 - 13

IBJA’s Free Privileged Gold Membership

IBJA members can contact our Delhi regional office for any queries / suggestions regarding IBJA in the North region.
Address : B33, Ansal Chamber 2, Bhikaji Cama Place, RK Puram, New Delhi 110066.
Contact Person: Mr. K.P Singh on 9540230600.

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Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

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