7th June, 2018

Daily Market Rates

India A.M. (07-06-18)

999 Gold - Rs. 30,930/-
995 Gold - Rs. 30,780/-
916 Gold - Rs. 28,332/-
750 Gold - Rs. 23,198/-
585 Gold - Rs. 18,094/-
999 Silver - Rs. 39,850/-





India P.M. (06-06-18)

999 Gold - Rs. 30,815/-
995 Gold - Rs. 30,665/-
916 Gold - Rs. 28,227/-
750 Gold - Rs. 23,111/-
585 Gold - Rs. 18,027/-
999 Silver - Rs. 39,545/-

Thursday, June 7

The U.S. is to publish weekly data on jobless claims.

Daily Gold Market Report

Gold price keeps its negative stability – Analysis - 07-06-2018
Gold price kept its stability below 1301.20 level after the positive attempt that it showed yesterday, and begins to provide negative trades on its way to visit our first waited target at 1285.90, to keep the bearish trend scenario active for the upcoming period, supported by stochastic negative signal. Therefore, we are waiting for more decline today, reminding you that breaking the targeted level will push the price towards 1267.00 on the near term basis. Expected trading range for today is between 1280.00 support and 1310.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver tests the resistance – Analysis - 07-06-2018
Silver price traded positively yesterday to reach the sideways range’s resistance at 16.80, and the price still confined inside this range that its support line located at 16.15, and it might witness bearish bias in the upcoming sessions, affected by stochastic reach to the overbought areas. In general, we will continue to suggest the sideways move until the price manages to surpass one of the above mentioned levels, reminding you that breaching the resistance will push the price towards 17.43 initially, while breaking the support will press the price to visit 15.49 before any new attempt to rise. Expected trading range for today is between 16.45 support and 16.90 resistance. Expected trend for today: Sideways

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Gold inches up on weaker dollar

Gold prices edged higher on Thursday, supported by a weaker dollar amid ongoing concerns about a trade war between the United States and its allies. FUNDAMENTALS * Spot gold was 0.1 percent higher at $1,296.91 per ounce by 0124 GMT. * U.S. gold futures for August delivery were nearly unchanged at $1,301.30 per ounce.

Gold Price Falls On Lower Demand, Silver Gains

Mumbai: Gold prices slipped marginally by Rs. 5 per 10 grams to finish at Rs. 30,665 at the bullion market here today following lower demand from stockists and retailers even as the metal strengthened overseas. Silver strengthened by Rs. 250 per kg to Rs. 39,545 on sustained offtake from industrial units. Standard gold (99.5 per cent purity) moved down by Rs. 5 to close at Rs. 30,665 per 10 grams from Tuesday's closing level of Rs. 30,670.

Gold, Silver Prices Hit Daily Highs As U.S. Dollar Index Under Pressure

(Kitco News) -Gold and silver prices are up and have touched new daily highs in late-morning trading Wednesday. Both precious metals rallied at the same time the U.S. dollar index dropped to its session low. The gold and silver bulls have gained a bit of upside technical momentum at mid-week. August gold was last up $2.60 an ounce at $1,304.90 and July silver was up $0.217 at $16.76 an ounce.

Silver Market Could Still Hit $21 An Ounce – Sprott Asset Management

(Kitco News) - Although silver has struggled to gain momentum so far this year, one major precious metals firm is not giving up on the metal as it sees growth potential coming from industrial demand. In a report released Tuesday, Maria Smirnova, a senior portfolio manager at Sprott Asset Management, said she remains optimistic that silver can eventually regain its luster, rising to $21 an ounce. From current prices, Smirnova’s forecast target represents a gain of 26%. July silver futures settled Wednesday’s session at $16.694 an ounce, up almost 1% on the day.

Competition In Gold ETFs Heating Up As BAR Sees $145M Growth In Three Days

(Kitco News) - Competition in the gold space is heating up as the newest exchange-traded product saw inflows of $145 million in less than a week. Last Friday GranitShares Gold Trust (NYSE: BAR) gold holdings were valued at $15 million, explained Will Rhind, CEO of the ETF firm, in an interview with Kitco News. By Monday, he said that BAR’s assets under management increased by $145 million, totaling $160 million.

Risk On, Risk Off

There are opposing and opposite forces currently at play affecting gold prices. U.S. equities continue to rage to the upside, with the NASDAQ closing at a new all-time high for the third consecutive day and the Dow back above 25,000. This risk-on market sentiment coupled with recent dollar strength has put significant pressure on the precious metals complex including gold.

Gold Rush Or Gold Collapse?

All markets leave a footprint; whether traders and investors want to believe them is another story. The money flow and direction of markets has more to do with money flow than it does the news and fundamentals. The problem is simple -- traders and investors can’t keep their emotions or opinions out of the equation.

Gold & Silver Charts – Something Has to Give, Breakout Levels to Watch

Last week, when we were discussing precious metals, the questions we asked – when will trading gold and silver get better? It’s been a difficult market, but perhaps soon, at the least, we will get a little one-way follow-through. Back in mid-May, when gold broke out of the brutal range dating back to January it looked as though we might see decent one-way trade, but there was still an obstacle sitting in shorts’ way – the December 2016 trend-line. That line held up then and again yesterday.

Gold To Rise 6% In The Coming Months - Analyst

(Kitco News) - Gold has been resilient in light of strong U.S. jobs data and is now ready to climb to $1,375 an ounce on the macroeconomic backdrop set-up, according to one gold bull. “I expect a 6% rise in gold prices in the coming months. I see gold at $1,375 per oz and BAR [GraniteShares Gold Trust ETF] at $137 per share,” Boris Mikanikrezai, precious metals analyst at Metal Bulletin, wrote in a Seeking Alpha post on Tuesday. “I am a long BAR to express my long-term bullish gold view.”

Gold could see a quick drop to $1,250 if it breaks below these levels, technician Louise Yamada says

Gold is holding the $1,300 level but any deterioration would likely be the beginning of an even bigger slide, says one veteran technician. "If we can't hold here and we break the uptrend, there's a possibility that the price could slide toward $1,250," Louise Yamada, managing director of Louise Yamada Technical Research Advisors, told CNBC's "Futures Now" on Tuesday.

Latest UAE gold prices: Why bargains still await

Dubai: The price of gold inched up slightly on Wednesday as the US dollar weakened, but that doesn’t mean today’s the worse time to hit the jewellery shops. The latest gold jewellery rates in Dubai are still lower compared to the previous weeks, and shoppers can expect some declines over the next few days, just before a committee of the US Federal Reserve meets again next week. Analysts said the bullion isn’t at its strongest at the moment and that prices tend to decline ahead of the Federal Reserve meeting and go back up afterwards.

Gold Prices Pressured Lower, Crude Oil May Fall Before G7 Summit

Gold prices stalled, torn between the competing influences of a falling US Dollar and rising Treasury bond yields. The markets continue to unwind last week’s Italy-inspired moves, with the exit of haven-inspired capital flows weighing on the greenback and bonds alike. That has put the yellow metal’s roles as anti-fiat alternative and non-interest-bearing asset benchmark in conflict.

Gold rebounds to Rs 31,860 on firm global cues

Gold Prices Stabilize; Silver Hits 3-Week High

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