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Daily Market Rates
India A.M. (1-11-17)
999 Gold - Rs. 29,285/-
995 Gold - Rs. 29,135/-
916 Gold - Rs. 26,825/-
750 Gold - Rs. 21,964/-
585 Gold - Rs. 17,132/-
999 Silver - Rs. 38,840/- |
India P.M. (31-10-17)
999 Gold - Rs. 29,385/-
995 Gold - Rs. 29,235/-
916 Gold - Rs. 26,917/-
750 Gold - Rs. 22,039/-
585 Gold - Rs. 17,190/-
999 Silver - Rs. 38,925/- | | |
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Wednesday, November 1
The UK is to release a report on manufacturing activity.
The U.S. is to release the ADP nonfarm payrolls report and later in the day the Institute for Supply Management is to publish its manufacturing index.
The Fed is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. | |
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Daily Gold Market Report
Gold resumes the decline – Analysis - 01-11-2017
Gold price settled below the intraday bearish channel's resistance that appears on chart, reinforcing the expectations of continuing the bearish trend, waiting to visit 1263.15 level initially, noting that breaking this level will extend the bearish wave to target 1240.85 areas on the near term basis. In general, we will continue to suggest the bearish trend supported by the EMA50, unless we witnessed clear breach and hold with a daily close above 1281.17. Expected trading range for today is between 1255.00 support and 1280.00 resistance. Expected trend for today: Bearish | |
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Daily Silver Market Report
SilvSilver needs strong positive motive – Analysis - 01-11-2017
Silver price shows sideways and tight trading to fluctuate near 16.56 level again, while stochastic still positive, waiting to motivate the price to resume the bullish trend that targets testing 17.43 level initially. Until now, the bullish trend scenario still valid for the upcoming period conditioned by holding above 16.56, reminding you that breaching 17.43 is required to confirm extending the bullish wave towards 18.30. Expected trading range for today is between 16.65 support and 16.90 resistance. Expected trend for today: Bullish | |
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IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).
For Admissions, contact: Kejal 022 49717444
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Proposal for Photocard for Hallmarked Jewellery
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Gold, silver trade lower in morning trade
Gold was trading lower in morning deals on Wednesday as the dollar strengthened ahead of the US Federal Reserve policy outcome later in the day. MCX Gold futures were down 0.15 per cent, or Rs 45, at Rs 29,108 per 10 gram around 10.45 am (IST), whereas MCX Silver futures were down marginally 0.02 per cent at Rs 38,810 per 1 kg...
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Gold, Silver Pressured By Worries About Tighter U.S. Monetary Policy
Gold and silver prices were ending the U.S. day session moderately down Tuesday. Ideas of tighter U.S. monetary policy coming soon and a rally in U.S. stocks pressured the precious metals today. December Comex gold was last down $7.90 an ounce at $1,269.80. December Comex silver was last down $0.172 at $16.67 an ounce. There was a bevy of U.S. housing, business and consumer sentiment data released earlier Tuesday that was mostly upbeat. The economic data falls into the camp of the U.S. monetary policy hawks...
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Gold edges lower as dollar gains ahead of Fed statement
Gold edged lower early Wednesday as the dollar firmed with investors awaiting hints on the US Federal Reserve's monetary policy stance following the central bank's two-day meeting. The market is also looking forward to the impending naming of the next Fed chair, the Bank of England policy meeting on Thursday and more data, including US payrolls figures on Friday. Spot gold was down 0.1 per cent at $1,269.86 per ounce at 0356 GMT. US gold futures for December delivery were nearly unchanged at $1,270.90...
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BAML Downgrades Gold Outlook; Prices To Average $1,250 In Q1 2018
Higher bond yields and a stronger U.S. dollar will weigh heavily on gold prices in early 2018, according to analysts at Bank of America Merrill Lynch. In a report Monday, the bank pared back its expectations for gold in the first quarter of 2018. The analysts now see gold averaging $1,250 an ounce in the first three months of the new year, down from their previous estimate for prices to average $1,400 an ounce. While the bank sees the first quarter as the low point for the yellow metal...
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Will the 'Lucky $1,300' Gold Barrier Be Broken After Halloween?
Gold recovered well on Friday after falling below $1,264 on the opening. The main reason for the drop was a series of positive economic reports on Wednesday and Thursday and then strong earnings reports by the leading tech stocks after hours on Thursday, driving the tech-heavy NASDAQ index up 100 points (+1.5%) on Friday’s opening. Gold has been in a narrow trading range of $1,265 to $1,285 in the last two weeks of October, but there are some dramatic changes coming soon, which may lift gold above $1,300....
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Is Silver's Underperformance a Positive Sign?
Like gold, silver now appears to be completing an intermediate Head-and-Shoulders top that we can see on its latest chart below, within a much larger and very bullish Head-and-Shoulders bottom pattern. Both these Head-and-Shoulders tops are related to the Head-and-Shoulders bottom that just completed in the dollar index, that we look at in the parallel Gold Market update. With the dollar index having just made a convincing breakout from its Head-and-Shoulders bottom, and looking set to rally to the 97 area, silver looks set to react back, probably to the $15.50-$16.00 area, before reversing to the upside as the dollar turns lower again...
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Gold connect linking Shenzhen and Hong Kong to launch Friday
The Shenzhen-Hong Kong gold connect will be the second cross border trading scheme after the Hong Kong and Shanghai gold markets were linked in 2015, according to Haywood Cheung Tak-hay, president of the Chinese Gold&Silver Exchange Society. The Shenzhen and Hong Kong gold connect has 70 Hong Kong gold trading firms taking part, compared to 30 in the Shanghai-Hong Kong connect. The Shanghai-Hong Kong gold connect only allows Hong Kong investors to trade the Shanghai gold exchange, while the Shenzhen leg only allows mainlanders to trade gold in Hong Kong...
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The world is running out of gold — here's how to play it
My good friend Pierre Lassonde, cofounder and chairman of Franco-Nevada, doesn’t know how we’ll replace the massive gold deposits of the past 130 years or so. Speaking with the German financial newspaper Finanz und Wirtschaft this month, Pierre says we’re seeing a significant slowdown in the number of large deposits being discovered. Legendary goldfields such as South Africa’s Witwatersrand Basin, Nevada’s Carlin Trend and Australia’s Super Pit—all nearing the end of their life cycles—could very well be a thing of the past. Over the medium and long-term, this could lead to a supply-demand imbalance and ultimately put strong upward pressure on the price of gold...
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Gold traders find another route to offset duty
New Delhi may have recently plugged the loophole that had allowed star exporters to import gold articles from South Korea and Indonesia at zero duty and make windfall gains by selling them locally, baking in the 10 per cent levy on the metal...
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IBJA’s Free Privileged Gold Membership
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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.
IBJA members can contact our Gujarat regional office for any queries / suggestions regarding IBJA in the west region.
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
India Bullion and Jewellers Association Ltd.
IBJA House, 2nd Agiary Lane, Zaveri Bazar, Mumbai - 400002.
Tel: +91-22 49098950 / 49098960
Fax:+91-22 23427459
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