09th August, 2018

Daily Market Rates

India A.M. (09-08-18)

999 Gold - Rs. 29,665/-
995 Gold - Rs. 29,515/-
916 Gold - Rs. 27,173/-
750 Gold - Rs. 22,249/-
585 Gold - Rs. 17,354/-
999 Silver - Rs. 37,855/-





India P.M. (08-08-18)

999 Gold - Rs. 29,590/-
995 Gold - Rs. 29,440/-
916 Gold - Rs. 27,104/-
750 Gold - Rs. 22,193/-
585 Gold - Rs. 17,310/-
999 Silver - Rs. 37,650/-

Thursday, August 9

The Reserve Bank New Zealand is to announce its benchmark interest rate and publish its rate statement. T
he bank will also hold a press conference to discuss the policy decision.
China is to publish data on inflation.
Canada is to release industry data on new house price inflation.
The U.S. is to produce reports on producer price inflation and the weekly report on jobless claims.

Daily Gold Market Report

Gold price tests the moving average – Analysis - 09-08-2018
Gold price continues to fluctuate at the EMA50, accompanied by stochastic reach to the overbought areas, to form negative factor that supports the chances of resuming the recently suggested bearish trend, which depends on holding below 1220.00. Therefore, we will continue to suggest the bearish bias in the upcoming sessions, reminding you that our targets begin at 1204.50 and extend to 1180.55 after breaking the previous level, noting that breaching 1220.00 will push the price to test 1236.20 areas and might extend to 1248.00 before any new attempt to decline. Expected trading range for today is between 1195.00 support and 1225.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver price within sideways track – Analysis - 09-08-2018
Silver price fluctuates within sideways track that appears on the chart, and it shows new test to the key resistance 15.50, and as long as the price is below this level, our bearish overview will remain active, supported by stochastic reach to the overbought areas, reminding you that our waited targets begin at 15.10 followed by 14.77 on the near term basis. Expected trading range for today is between 15.10 support and 15.60 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

XAU/USD Technical Outlook: Gold Prices Digest Recent Losses

Gold is down nearly 7% year-to-date with price registering fresh yearly lows last week. Both price and momentum have been coiling up and the focus is on a breakout in the days ahead of guidance. Here are the updated targets and invalidation levels that matter for Gold. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold steady, dollar headwinds on the radar

LONDON (Reuters) - Gold prices steadied on Wednesday, but expectations of a higher dollar due to rising U.S. interest rates and strong demand for U.S. Treasury bonds seen as a refuge from trade tensions are expected to weigh.

Gold logs back-to-back gain as the dollar and government bond yields pull back

Gold futures booked a second straight finish in positive territory as the U.S. dollar and government bond yields both retreated, providing support for bullion. “Gold trades higher for a second day as trade tensions between the U.S. and China escalate and the recent dollar rally looks tired,” said Ole Hansen, head of commodity strategy with Saxo Bank.

Gold nudges up as dollar hits two-week low vs yen

BENGALURU (Reuters) - Gold prices rose slightly on Thursday, after gaining for two straight sessions, supported by a slightly weaker dollar versus the yen in Asian trade. Spot gold was up 0.1 percent at $1,214.51 an ounce at 0400 GMT, having gained 0.2 percent in the previous session. U.S. gold futures were up 0.15 percent at $1,222.8 an ounce. The Japanese yen rose to two-week high against the dollar on Thursday ahead of trade talks between the United States and Japan and amid speculation over when the Japanese central bank will exit its ultra-easy monetary policy.

Gold Prices Edge Lower, Silver Slips Below Rs. 39,000: 5 Things To Know

Gold prices softened by Rs. 20 to Rs. 30,565 per 10 grams at the local market today owing to a slackened demand from local jewellers despite a firm trend in overseas markets, according to news agency Press Trust of India. Silver followed suit and cracked below the Rs. 39,000-mark by falling Rs. 85 to Rs. 38,915 per kg due to reduced offtake by industrial units and coin makers. Marketmen attributed the slide in gold prices to easing demand from local jewellers and retailers at current levels in the domestic spot market but a firm trend overseas capped the fall.

Gold Prices Remain Flat, Silver Slips Today. Key Things To Know

Gold prices ruled flat at Rs. 30,585 per 10 gram in limited deals at the bullion market today, reported Press Trust of India (PTI). Gold remained steady today despite a better trend overseas. However, silver prices fell by Rs. 200 to Rs. 39,000 per kg at the bullion market owing to reduced offtake by consuming industries. Traders attributed the slide in silver prices to easing demand from industrial units and coin makers at the local spot market. Silver coins remained steady at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.

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

GOLD SILVER NEW DELHI: Precious metals gold and silver were trading in the green in morning trade on Thursday. MCX Gold futures were trading 0.12 per cent, or Rs 37 higher at Rs 29,647 per 10 grams at 10:41 am (IST), while MCX Silver futures were up 0.28 per cent, or Rs 108, at Rs 38,055 per 1 kg at the same time. According to SMC Global Securities, gold (October) may find support near Rs 29,500 and face resistance near Rs 29,750 on MCX while silver can take support near Rs 37,700 and it has resistance near Rs 38,200.

Silver losing charm as foreign buyers keep off

SILVER Kolkata: India’s silver jewellery is fast losing its charm in the global markets as exports have fallen sharply by 93.04 per cent in the first quarter of current fiscal, compared with Q1 of FY18, with buyers from the Middle East, the US and other nations staying away. Analysts said the price of silver has been range bound in the first six months, which has affected its demand in the overseas markets.

Silver futures harden by 0.33% on overseas cues

New Delhi, Aug 9 (PTI) Silver prices went up by 0.33 per cent to Rs 38,909 per kg in futures market today as speculators enlarged positions amid positive global cues. At the Multi Commodity Exchange, silver for delivery in December rose by Rs 127, or 0.33 per cent to Rs 38,909 per kg in business turnover of 15 lots. Likewise, the white metal for September gained Rs 111, or 0.29 per cent to Rs 38,058 per kg in 396 lots.

Modest Buying And A Weaker Dollar Support Gold

Gold is trading modestly higher today, with the most active December’s futures contract currently trading up $3.20 and fixed at $1221.50. Today’s net gain is a direct result of fractional buying as well as a modestly lower U.S. dollar. This can be best illustrated when looking at physical gold, which is currently fixed at $1213.20. Today’s net gain of $2.70 can be divided with almost equal parts of traders bidding up the precious yellow metal as well as a fractionally weaker U.S. dollar. Of the $2.70 gain, dollar weakness accounts for $1.10, with the remaining gain of $1.60 directly attributable to buying.

Gold Bug Or Gold Dud?

Don’t Rule Out Gold At $1,300 By Year-End, Says ICBC

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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Address : Gems & Jewellery Trade Council of India "GJTCI" Gem Place, 3rd Floor, Deepkala House, C. G. Road, Ahemdabad - 380 009, Gujarat.
Contact Person : Mr. Shantibhai R. Patel  on 9327000093 / 079-26402573

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