27th March, 2018

Daily Gold Market Report

Gold returns to continue rising – Analysis - 27-03-2018
Gold price traded positively yesterday to settle above 1350.00 barrier, reinforcing the expectations of achieving more rise on the intraday and short term basis, waiting to test 1365.97 level that represents our next main target, noting that breaching this level will extend Gold price gains to reach 1400.00 as a next station. The EMA50 keeps supporting the suggested bullish wave, which its continuation conditions holding above 1335.40. Expected trading range for today is between 1340.00 support and 1370.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver breaches the resistance – Analysis - 27-03-2018
Silver price confirmed breaching 16.56 level after closing the daily candlestick above it, to activate the bullish trend scenario on the intraday and short term basis, targeting heading towards 17.43 as a next main station. Therefore, the bullish trend will be suggested in the upcoming sessions supported by moving above the EMA50, taking into consideration that the continuation of the expected rise depends on holding above 16.56 and 16.45 levels. Expected trading range for today is between 16.56 support and 16.90 resistance. Expected trend for today: Bullish

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Gold and Silver Jump, Burning Comex Shorts as Dollar Falls, Stocks Bounce Amid US-China 'Trade War' Detente

GOLD PRICES rose and silver jumped against a falling US Dollar on Monday in London, trading near 5-week and 3-week highs respectively as global stock markets bounced amid negotiations between the US and China to avert a 'trade war' between the world's two largest economies, writes Steffen Grosshauser at BullionVault.

What Drove Gold and Silver Upward?

The two most critical precious metals, gold and silver, rose on March 23, rising 1.4% and 1% in spot markets. Platinum ended the day flat, and palladium was down by 0.4%, as it mostly follows industries. Donald Trump’s step towards anti-China tariffs brought some unrest to markets, which likely led to haven bids for gold and silver rising. On March 23, China also unveiled plans to impose tariffs on up to $3 billion in US imports, likely in retaliation to US tariffs on Chinese steel and aluminum.

Gold Rate Today: Gold, silver trade flat amid easing trade war worries

NEW DELHI: Precious metals gold and silver were trading flat in the morning deals on Tuesday amid reports of trade negotiations between the United States and China, which eased fears of a trade war and improved investors' appetite for riskier assets. MCX Gold futures were trading 0.21 per cent, or Rs 65, down at Rs 30,837 per 10 grams at 11 am (IST), while MCX Silver futures were up 0.05 per cent, or Rs 19, at Rs 38,974 per 1 kg at the same time.

Silver Price Forecast March 27, 2018, Technical Analysis

Silver markets dipped a bit at the open on Monday but turned around and rallied towards the $16.70 level. If you can break above there, the market should continue to go towards the $17 level again. We have been grinding sideways in general, as the world worries about trade wars and potential headlines to move the markets. Silver of course will have its typical influence by the US dollar, as if it falls, Silver will typically rise. The $17 level getting broken above would be a very bullish sign, perhaps sending the market towards the $17.50 level.

Gold, silver fall on weak global cues, muted demand

A weak global trend and easing demand from local jewellers pulled down gold prices by Rs 35 to Rs 31,800 per ten gram at the bullion market today. Silver also drifted lower by Rs 100 to Rs 39,500 per kg due to reduced offtake by industrial units and coin makers.Traders said apart from a weak overseas trend, fading demand from local jewellers and retailers at existing levels at the domestic spot market, weighed on gold prices.

Gold's supply chain is coming to the blockchain

Physical gold is coming to the digital gold rush known as blockchain technology — and one company is working to ensure that it's responsibly sourced. That's according to a U.S.-based financial technology company, Emergent Technology Holdings, that is hoping to digitally encode the gold supply chain using blockchain tech in the first half of this year.The company is creating a digital token that it says will be backed fully by gold in the hopes of offering a way to trade the metal with greater liquidity, says Emergent's chief commercial officer, Mitchell Davis.

Cut gold import duty, form jewellery parks: Niti Aayog Panel

NEW DELHI: A Niti Aayog committee suggested lowering of the import duty on gold, setting up of jewellery parks to encourage local manufacturing, making mining viable and “financialisation” of the metal’s holding among steps to transform India’s gold market. The committee, headed by Aayog principal adviser Ratan P Watal, also highlighted the need for a regulatory body for the gold industry, as it made 84 recommendations clubbed under 20 heads, with a three month to one-year timeline for implementation.

Gold up on weaker dollar, Russian tensions

Spot gold edged up 0.1 percent to $1,354.51 per ounce at 0446 GMT, just off Monday’s $1,355.97, the metal’s highest level since Feb. 16. U.S. gold futures for April delivery were flat at $1,354.60 per ounce. “Gold prices continue to ratchet higher as the U.S. dollar weakens despite equity markets rebounding on easing concerns about the likelihood of a trade war between China and USA,” Stephen Innes, APAC trading head at OANDA, said in a note.

Tradewind Launches Blockchain Platform for Gold Trading

Tradewind, which is backed by stock trading firm IEX, has launched a blockchain-powered gold trading platform. The firm, whose president and co-founder was a subject of the best-selling book "Flash Boys," kicked off its VaultChain platform last week. As previously reported, the company is working with major companies like the Royal Canadian Mint and gold giant Sprott Inc. The effort is the latest to bridge the technological underpinnings of cryptocurrencies in a gold-trading environment.

Goldman Sachs expects gold to 'outperform'amid growing fears of a stock market correction

Goldman Sachs is expecting gold to "outperform" over the coming months. For the first time in more than five years, commodity analysts at the U.S. investment bank are bullish on yellow metal prices. Goldman's analysts said signs of an uptick in inflation and the "increased risk" of a stock market correction should both prove to be price supportive for bullion.

Gold marks longest streak of session gains since January

Gold futures rose for a fourth straight session Monday, marking their highest settlement in just over five weeks as investors eyed trade tensions between the U.S. and China and their impact on the U.S. dollar and stock market. Prices for the metal found support as the dollar declined, but a rebound in U.S. stocks on the back of easing trade tensions between the U.S. and China kept a cap on the metal’s gains.

Gold falls to Rs 31,800 on weak global cues, muted demand

A weak global trend and easing demand from local jewellers pulled down gold prices by Rs 35 to Rs 31,800 per ten gram at the bullion market today. Silver also drifted lower by Rs 100 to Rs 39,500 per kg due to reduced offtake by industrial units and coin makers.

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