28th May, 2018

Daily Market Rates

India A.M. (28-05-18)

999 Gold - Rs. 31,005/-
995 Gold - Rs. 30,855/-
916 Gold - Rs. 28,401/-
750 Gold - Rs. 23,254/-
585 Gold - Rs. 18,138/-
999 Silver - Rs. 39,590/-





India P.M. (25-05-18)

999 Gold - Rs. 31,355/-
995 Gold - Rs. 31,205/-
916 Gold - Rs. 28,721/-
750 Gold - Rs. 23,516/-
585 Gold - Rs. 18,343/-
999 Silver - Rs. 40,305/-

Monday, May 28

Markets in the U.S. will remain closed for Memorial Day.

Daily Gold Market Report

Gold begins negtaively – Analysis - 28-05-2018
Gold price opens this week by clear decline to move below 1301.20, after ending last week below it too, which reactivate the bearish correction scenario on the intraday basis, waiting to target 1285.90 level as a first main station. Therefore, the bearish trend will be expected in the upcoming sessions unless breaching 1301.20 – 1307.00 levels and holding above them. Expected trading range for today is between 1280.00 support and 1307.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver within the sideways track – Analysis - 28-05-2018
Silver price continues to fluctuate around the EMA50, and the sideways range still dominating the intraday trading, thus, no change to the sideways move scenario on the intraday basis until the price exits the mentioned range, which its lines represented by 16.15 support and 16.80 resistance. We remind you that breaching the mentioned resistance will push the price towards 17.43 as a first positive target, while breaking the support will push the price to visit 15.49 level before any new attempt to regain the main bullish trend. Expected trading range for today is between 16.30 support and 16.65 resistance. Expected trend for today: Sideways

IBJA in association with SRDC has launched Skill oriented course for Jewellery Manufacturing Techniques (JMT-1).

For Admissions, contact: Kejal 022 49717444

Proposal for Photocard for Hallmarked Jewellery

Buying Gold At Current Price? Here's What Experts Say

Are you looking to buy gold at current prices? Many wealth planners often advise a small portion of fund allocation to gold in an investor's portfolio. Gold prices have been moving in a range for past few weeks. While some demand from jewellers has provided support to domestic gold prices, in the international market, strength of the dollar along with rising US bond yields has capped the upside.


They concealed the bars in specially designed pouches that were worn under pants. Three flyers were arrested at Chhatrapati Shivaji International Airport on Friday for allegedly smuggling in 6 kg of gold bars worth Rs 1.75 crore from Hong Kong.

Gold Prices Lose Four Day Rising Streak, Decline Rs. 105 On Weak Demand, Global Cues

Gold prices moved lower by Rs. 105 to Rs. 32,370 per 10 grams at the bullion market Saturday, stopping its four-day upward streak. The precious metals had gained Rs. 600 in the previous four sessions. The decline is attributed to the weak global cues amid easing demand from local jewellers at prevailing higher levels. Following gold prices, silver prices also declined and dropped by Rs. 350 to Rs. 41,200 per kg backed on reduced offtake by industrial units and coin makers. Gold had been trading in a range between about $1,310 and $1,360 since hitting a 1-1/2 year high in January but was pushed lower this month by a strengthening dollar and rising U.S. bond yields, which reduce the appeal of non-yielding gold.

Gold falls Rs 105 on global cues, weak demand

Gold prices drifted lower by Rs 105 to Rs 32,370 per 10 grams at the bullion market today, halting its four-day rising streak on the back of weak global cues amid easing demand from local jewellers at prevailing higher levels. Silver followed suit and dropped by Rs 350 to Rs 41,200 per kg backed by reduced offtake by industrial units and coin makers. Traders said besides weak trend overseas, as strength in dollar against other currencies overseas eroded the appeal of the precious metal as a safe-haven investment, fall in demand from local jewellers and retailers at existing higher levels at domestic spot market weighed on the prices.

Profit-booking pulls gold futures down to Rs 30,931 per 10 gm

Gold prices fell 0.83 per cent to Rs 30,931 per 10 grams at the futures trade due to a weak trend overseas and profit-booking by speculators. At the Multi Commodity Exchange, gold for delivery in June declined by Rs 258 or 0.83 per cent to Rs 30,931 per 10 grams in a business turnover of 481 lots. Similarly, the yellow metal for delivery in August was down by Rs 257 or 0.82 per cent at Rs 31,215 per 10 grams in 197 lots.

Gold Rate Today: Gold, silver lose nearly 1% in morning deals

NEW DELHI: Precious metals gold and silver were trading deep in the red in the morning deals on Monday. MCX Gold futures were trading 0.75 per cent, or Rs 233 lower at Rs 30,956 per 10 grams at 10:57 am (IST), while MCX Silver futures were down 0.68 per cent, or Rs 272, at Rs 39,995 per 1 kg at the same time.

Gold dips on revived hopes for US-N. Korea summit

Gold prices fell on Monday on revived hopes for a US-North Korea summit, while a strong dollar also weighed on the market. Spot gold was down 0.3 per cent at $1,297.71 per ounce at 0243 GMT, while US gold futures for June delivery fell 0.5 per cent to $1,297.10 per ounce. “It looks like there is some chance of a meeting between the US and North Korea leaders, that would lower the geopolitical risks and lessen the appeal of gold,” said John Sharma, an economist with National Australia Bank, adding that a strong dollar was also pressuring prices.

Gold futures shed 0.83 per cent on weak global cues

New Delhi: Amid a weakening global trend and profit-booking by speculators, gold prices fell by 0.83 per cent to Rs 30,931 per 10 grams in futures trade on Monday. At the Multi Commodity Exchange, gold for delivery in June declined by Rs 258, or 0.83 per cent, to Rs 30,931 per 10 grams, in a business turnover of 481 lots. Similarly, the yellow metal for delivery in August was down by Rs 257, or 0.82 per cent, to Rs 31,215 per 10 grams in 197 lots. Analysts said besides subdued global trend on easing geopolitical concerns as the US President Donald Trump revived hopes of his summit with North Korean leader Kim Jong-un, after cancelling the meeting last week, led to the fall in gold prices at futures trade.

MD of Kanishk Gold arrested: Five things you need to know

In yet another case of a jewellery major purportedly defrauding banks, Bhoopesh Kumar Jain, the Managing Director of Kanishk Gold Private Limited(KGPL) was arrested on charges of money laundering on Monday. The Chennai-based jeweller has been remanded in judicial custody till June 8.

Gold Prices Today Go Up Further, Silver Retreats: 5 Things To Know

Gold prices today rose from the Rs. 32,000 per 10 grams level in Delhi. Gold maintained its upward trend to climb by Rs. 125 to Rs. 32,125 per 10 gram at the bullion market in the national capital, news agency Press Trust of India reported. Buying by local jewellers along with mild gains in the international gold prices supported domestic rates of the yellow metal, according to traders. Gold prices in the global market edged higher on weakness in the dollar against a basket of currencies.

Nirav Modi's brother fled with 50kg gold jewellery: Enforcement Directorate

Nirav had availed of a letter of undertaking (LoU) facility from PNB to pay foreign clients from whom he purchased gems for import into India, apparently for value addition.

Silver futures weaken to Rs 39,941 per kg

Silver prices drifted lower by 0.81 per cent to Rs 39,941 per kg at the futures trade today due to cutting down of bets by speculators at prevailing levels owing to a weak trend overseas.

Gold Price Forecast: Contagion Fears Important; Small-Scale Losses Likely

Gold / Silver / Copper Prices - Weekly Outlook: May 28 - June 1

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.

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

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