04th April, 2018

Wednesday, April 4

Australia is to release data on retail sales and building approvals.
China is to publish its Caixin service sector index.
The UK is to release data on construction activity.
The euro zone is to publish preliminary inflation data.
The U.S. is to release the ADP nonfarm payrolls report and later in the day, the ISM is to publish its non-manufacturing index.

Daily Gold Market Report

Gold breaks the support – Analysis - 04-04-2018
Gold price ended yesterday’s trading below 1335.40 level, to turn the intraday trend to decline, targeting testing 1316.48 level mainly, supported by moving below the EMA50. Therefore, the decline will be expected in the upcoming sessions unless the price managed to breach 1335.40 level and hold above it again, noting that stochastic current positivity might push the price to attempt to recover and stop the negative pressure. Expected trading range for today is between 1320.00 support and 1345.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver continues to fluctuate – Analysis - 04-04-2018
Silver price continues to move inside the sideways range that appears on the chart, which keeps the sideways trading valid on the intraday basis, noting that the contradiction between stochastic positivity and the EMA50 negativity supports the chances of continuing the sideways fluctuation. The lines of the mentioned range are represented by 16.15 support and 16.80 resistance, reminding you that breaking the mentioned support will push the price to visit 15.49 level mainly, while breaching the resistance will lead the price to resume its main bullish track that its main targets begin at 17.43. Expected trading range for today is between 16.20 support and 16.60 resistance. Expected trend for today: Sideways

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Silver Mines raises $2.75 million for world-class silver deposit

Silver Mines Ltd (ASX:SVL) has raised $2.75 million in a share placement to sophisticated and professional investors priced at 4 cents. The company’s Bowdens Silver Project hosts one of the largest undeveloped silver deposits globally. The resource stands at 128 million tonnes grading 67 g/t silver equivalent for 275 million ounces of silver equivalent. A resource upgrade in September 2017 increased the total resource by 51%.

Bearish Betting on Silver Creates 'Short-Term Contrarian Play' as Gold Slips, Trump Whacks Tech Stocks

GOLD PRICES edged lower against a rising US Dollar in London trading on Tuesday morning, erasing one-third of Easter Monday's near-$20 gain as European stock markets caught up with Wall Street's latest fall, dropping 0.5% by lunchtime. With analysts blaming US President Trump's trade war with China and latest Twitter attacks on e-tailing giant Amazon for the drop in world stock markets, major government bond prices held steady, keeping the yield offered by benchmark 10-year US Treasury debt near its lowest level since end-January at 2.74%.

High-grade, low-cost silver options set Americas Silver up for growth

VANCOUVER (miningweekly.com) – Diversified miner Americas Silver is being cautious not to add too much silver to its zinc and lead production profile at a time when prices for the precious metal languish between the $16/oz to $20/oz level.“We are being very disciplined to not add too much new silver production to our portfolio, given the low current price for the precious metal. It does not help to produce more but only make a buck or two per ounce,” president and CEO Darren Blasutti told Mining Weekly Online in an interview.

Price of Silver's Next Move Will Be Determined by These 2 Indicators

Since my last update, the price of silver has given back most of the gains from the previous week. In fact, the price of silver actually finished the month of March in the red. After topping out at $16.50 on March 27, the precious metal dipped below $16.30 just two days later.

Silver falls during trading on Tuesday

Silver markets initially went sideways during trading on Tuesday, as we hovered around the $16.50 level. However, we ended up breaking down below there and reaching towards the $16.35 level, which begins another minor support area. I believe that the market will continue to be very volatile, but that’s nothing new for people who are used to trading silver. I think that the overall risk appetite in the market will continue to be difficult to gauge, because the markets will have a lot to worry about as far as headlines are concerned involving a potential trade war with the US and China. I believe that the market will find plenty of reasons to be skittish, so Silver could get even more volatile than we’ve seen as of late.

Silver futures rise by Rs 26 per kg

Silver prices rose by Rs 26 to Rs 39,009 per kg in futures trade today after investors raised their bets amid positive global trends. At the Multi Commodity Exchange, silver for delivery in far-month July traded higher by Rs 26, or 0.07 per cent, to Rs 39,009 per kg, in a business turnover of 39 lots. The white metal for delivery in May contracts also gained Rs 25, or 0.07 per cent, to quote at Rs 38,442 per kg in a turnover of 662 lots. In the international market, silver up 0.03 per cent to USD 16.40 an ounce in Singapore today. Market analysts attributed the rise in silver prices in futures trade to widening of bets by participants, driven by a firm trend overseas.

Gold imports may shrink as dore shines

Dore gold attracts an import duty of 9.35 per cent and, after adding GST of 3 per cent, the total tax incidence is 12.35 per cent. KOLKATA: India’s import of pure gold is likely to shrink as local refining of dore is picking up. According to MMTCBSE -1.89 % PAMP and other refiners, as much as 195 tonnes of gold were generated through refining of dore — a semi-pure alloy of the metal — in the just ended fiscal year. That was just over a third of country’s duty paid domestic gold consumption of 570 tonnes.

BlackRock's $1.3 Billion Gold Fund Feels Pain of Miners

This year hasn’t been kind to precious-metal stock pickers at the world’s biggest asset manager, but their luck may be about to turn. The $1.3 billion BlackRock Gold and General Fund lost 15 percent last quarter, its worst performance since the third quarter of 2015. Among large materials-focused equity funds, it was the second-worst performer after another BlackRock gold fund domiciled in Japan.

Eldorado Gold Bounces Back After Hitting Cheapest Level Since 1998

A more than 40 percent plunge this year through Monday took the stock to its cheapest level in two decades on a price-to-book basis, which may have flushed out valuation seekers. A more fundamental reason could be speculation surrounding the outcome of arbitration affecting the company’s assets in Greece, according to Kerry Smith, an analyst with Haywood Securities. The 90-day arbitration period is set to end April 6. In September, the company said it would suspend all operations in Greece, citing delays acquiring routine permits.

Gold ends lower as dollar rises, battered stocks bounce

Gold futures finished lower on Tuesday, as equities attempted to bounce back from the previous session’s rout and worries over global trade tensions appeared to take a breather. Although European stocks ended lower, U.S. shares traded higher as stocks attempted to recover at least part of Monday’s technology-driven bloodletting, while a leading dollar index’s DXY, -0.05% slight 0.1% gain produced a sufficient headwind for the yellow metal. The two typically move inversely.

Sberbank to increase gold sales to India and China in 2018

MOSCOW (Reuters) - Sberbank CIB, an arm of Russia’s largest lender, plans to more than double its gold sales to India this year and sell more gold than forecast to China, while keeping gold purchases in Russia flat, its head of global markets said. Purchases for sales to countries such as China and India go through the bank’s Swiss branch, while most of Sberbank CIB’s gold purchases from Russian gold miners stay within the country.

The gold standard for innovation

"Na hoyy!” A harmless expression roughly translated as “it can’t be” is a common reaction a Gujarati is likely to have to any news that comes their way. Throw in some headlines, add in the rhythmic two-word phrase in Gujarati and it makes for the most effortless, laughter-inducing part of Manan Desai’s 30-minute stand-up set that he first performed to a packed house in Ahmedabad last June. Seven years ago, his first stand-up foray in front of a live audience in his hometown, Vadodara, was not half as promising though.

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