6th November, 2017

Monday, November 6

New Zealand is to publish data on inflation expectations.
Bank of Japan Governor Haruhiko Kuroda is to speak.
Canada is to publish its Ivey PMI.
New York Fed President William Dudley is to speak.

Daily Gold Market Report

Gold approaches from the target – Analysis - 06-11-2017
Gold price settles near our waited target at 1263.15, falling under the negative pressure formed by the EMA50, which supports the chances of breaking the mentioned level to open the way to extend the bearish wave towards the next station at 1240.85. Therefore, we will continue to suggest the bearish trend in the upcoming sessions, taking into consideration that breaching 1281.17 will stop the expeted decline and lead the price to achieve gains that start at 1299.20 followed by 1321.49, noting that surpassing the last level will confirm the price return to its main bullish track again. Expected trading range for today is between 1255.00 support and 1281.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver declines again – Analysis - 06-11-2017
Silver price ended last Friday's trading with clear negativity to move below 17.00 level, and the price is affected by the negative signal provided by stochastic, but we still keep our overall bullish trend expectations as long as 16.56 remains intact, as breaking this level will push the price to turn to decline and target 15.49 areas mainly. The price needs to breach 17.43 level to confirm opening the way to achieve more gains that the next main target reach to 18.30. Expected trading range for today is between 16.60 support and 17.15 resistance. Expected trend for today: Overall Bullish

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Proposal for Photocard for Hallmarked Jewellery

Silver futures surge Rs 97 on firm global cues

Tracking a firming trend in the precious metals overseas, silver prices soared by Rs 97 to Rs 39,145 per kg in futures trade today as speculators widened their positions. In futures trade at the Multi Commodity Exchange, silver for delivery in December surged by Rs 97 Or 0.25 per cent to Rs 39,145 per kg in a business turnover of 159 lots.

Gold rate today: Gold, silver up in morning trade

NEW DELHI: Gold and silver were trading higher in morning trade on Monday on account of buying of precious metals by jewellers, industries and retailers. MCX Gold futures were up 0.21 per cent, or Rs 62, at Rs 29,150 per 10 gram around 10.30 am (IST), while MCX Silver futures were up 0.28 per cent, or Rs 111, at Rs 39,159 per 1 kg at around the same time.

PRECIOUS-Gold inches down as dollar gains after strong U.S. data

Nov 6 (Reuters) - Gold edged lower early Monday as the dollar firmed after upbeat U.S. economic data strengthened the prospect of further interest rate hikes by the Federal Reserve. FUNDAMENTALS * Spot gold was down 0.2 percent at $1,267.01 per ounce at 0107 GMT. On Friday, it fell 0.5 percent and touched a one-week low of $1,265.16.

Top Two Signs Why Gold Prices Are ‘Overvalued’

(Kitco News) - Even though gold prices are already fairly weak compared to just two months ago, this research firm still believes that “most indicators” point to the yellow metal being overvalued. Capital Economics sees gold retreating first to $1,240 per ounce by end-2017 and then falling further down to $1,200. Two main negative triggers for the precious metal are a more aggressive Fed outlook and a lack of real geopolitical risks.

Australia’s Surging Gold Exports Surprise In 2017

(Kitco News) - Australia is having a very positive year for gold exports, with the latest monthly figures revealing a double-digit rise. The Australian Bureau of Statistics (ABS) said that non-monetary gold exports were up by 17% from August to September, representing an increase of $217 million to $1.5 billion. Overall, metal ores and mineral exports were up by 8% or by $584 million during the month. Metal sales, excluding ore, were also up by 5% or $4 million, reaching a total of $936 million.

Here's where gold ranks as an investment option

Broadly, there are four 'asset classes' or 'investment options' which are commonly used to construct a well diversified investment portfolio. These are fixed income or debt, equity, real estate and gold. Out of these four, gold is most misunderstood and least discussed investment option.

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