4th June, 2018

Monday, June 4

The UK is to release data on construction sector activity.

Daily Gold Market Report

Midday update for Gold 04-06-2018
Gold price shows sideways and tight trades since morning, settling below 1301.20 level, thus, no change to the bearish trend scenario that depends on holding below the mentioned level, supported by the negative pressure formed by the EMA50, reminding you that our waited targets begin at 1285.90 and extend to 1267.00 after breaking the previous level. Expected trading range for today is between 1280.00 support and 1310.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver shows weak trading – Analysis - 04-06-2018
Silver price continues to fluctuate around the EMA50, thus, no change to the sideways move scenario between 16.15 support and 16.80 resistance, waiting to surpass one of these levels to detect the next targets clearly. The details of the expected targets after the breach are explained in our last report, noting that the contradiction that appears between stochastic positivity and the EMA50 negativity provides another reason for the expected sideways move. Expected trading range for today is between 16.20 support and 16.60 resistance. Expected trend for today: Sideways

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Gold prices steady amid rate hike prospects

Gold prices steadied early on Monday, after falling to the lowest in more than a week in the previous session, as expectations of an interest rate hike this month offset support from worries about a trade war. * Spot gold was nearly unchanged at $1,293.06 per ounce by 0111 GMT. It touched the lowest since May 23 at $1,289.12 an ounce in the previous session.

Gold Won't Soar Until...

DESPITE the insistence of some, precious metals have not been in a bull market, writes Jordan Roy-Byrne at TheDailyGold. After a big pop at the start of 2016, the sector has trended lower. Sure, gold has traded up towards a major breakout but silver and the gold stocks have trended lower. When the US Dollar corrected significantly, the stock market outperformed precious metals.

South Korea asks India to relax gold, silver import norms

New Delhi: South Korea has asked India to remove restrictions on gold and silver imports, which were imposed to check abuse of free trade agreement leading to significant surge in the inbound shipments. In August 2017, India restricted imports of gold and silver items from South Korea to check spurt in the inbound shipments of the precious metals from that country. “South Korea is asking for removal of these restrictions but we have asked them to increase value addition norms,” a government official said.

Gold may hit US$1,400 on weak dollar

SINGAPORE: Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens. The precious metal will start to rebound in the final quarter of this year to average $1,375 an ounce in the last three months of next year and could touch a high of $1,400, said Bart Melek, global head of commodity strategy at TD Securities in Toronto. That’s a level last seen in 2013.

Should You Buy Gold Now? Here's What Experts Say

Gold prices have been moving within a range for the past few weeks. Traditionally considered a safe-haven investment, gold prices usually shine in in times of geopolitical uncertainty. For example, investors not confident of capital market investments at a certain time move to gold, and vice versa. Fears of US-China trade war and hopes of a rate hike by Federal Reserve - the US central bank - have kept gold prices in a range. In the domestic market, gold prices have stayed around Rs. 31,000-31,750 since April, data shows. During this period, global gold prices have quoted between $1,350 and $1,310 per ounce.

Gold To Do Better In June As Dollar Rally Stalls — INTL FCStone

(Kitco News) - Gold will have a better month in June following a drop below the key psychological level of $1,300 an ounce in May, said INTL FCStone, adding that the U.S. dollar rally will run out of steam.

U.S. Hedge Fund To Kick Off Investor Alliance To Shake Up Gold Sector — Report

(Kitco News) - In what is being referred to as an “unprecedented” move, a well-known gold bull and the man behind the U.S. hedge fund Paulson & Co, John Paulson, is creating an investor alliance that will work on turning the gold mining sector around, Reuters reported citing sources.

Gold May Hit $1,400 in '19 on `Powerful Fuel' of Weak Dollar

Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens. The precious metal will start to rebound in the final quarter of this year to average $1,375 an ounce in the last three months of next year and could touch a high of $1,400, said Bart Melek, global head of commodity strategy at TD Securities in Toronto. That’s a level last seen in 2013.

Gold will start to rebound in Q4 2018 - TDS

In its latest outlook on both the US dollar and gold, Bart Melek, Global Head of commodity strategy at TD Securities in Toronto, highlighted the following key points: Gold will start to rebound in the final quarter of 2018. Prices to seen average $1,290 in Q3 2018, 1300 in Q4. Prices to average $1,375 an ounce in the last three months of 2019 and could touch $1,400.

Technical Analysis – Gold maintains weak bias in near term; broader trend is neutral

Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 1300 psychological level. It is worth mentioning that the precious metal has been developing within a sideways channel since May 23 with upper boundary the 1307.50 resistance level and lower boundary the 1289 support barrier. The short-term technical indicators are bearish and point to more weakness in the market.

Silver futures fall to Rs 40,892 per kg

Amid weak global cues, silver prices fell 0.41 per cent to Rs 40,892 per kg at the futures trade due to trimming down of positions by speculators. At the Multi Commodity Exchange, silver for delivery in far-month September declined by Rs 167 or 0.41 per cent to Rs 40,892 per kg in a business turnover of 41 lots. Likewise, the white metal for delivery in July was trading lower by Rs 32 or 0.08 per cent at Rs 39,505 per kg in 1,282 lots.

South Korea seeks relaxation from India on gold, silver import norms

Gold Prices Fall Today, Silver Rates Plunge: 5 Things To Know

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