13th April, 2018

Friday, April 13

China is to publish trade figures.
The U.S. is to round up the week with a report on consumer sentiment.

Daily Gold Market Report

Gold begins positively – Analysis - 13-04-2018
Gold price opens today’s trading with bullish bias after 1335.40 level proved its strength against the strong decline that it witnessed yesterday, accompanied by witnessing clear positive signals through stochastic, which forms positive factor that we expect to assist to push the price to achieve more rise today. Therefore, we will keep our overall bullish trend expectations conditioned by the price stability above 1335.40, noting that we are waiting to test 1365.97 level again. Expected trading range for today is between 1330.00 support and 1370.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver heads towards the support – Analysis - 13-04-2018
Silver price provided negative trades yesterday after testing 16.80 level that represents the sideways range’s resistance that appears on the chart, on its way for potential test to this range’s support at 16.15. Therefore, the sideways trading still dominant on the intraday basis, waiting to surpass one of the mentioned levels to detect the next targets clearly, noting that the details of the expected targets after the breach are explained in our previous report. Expected trading range for today is between 16.20 support and 16.70 resistance. Expected trend for today: Sideways

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Silver Industrial Demand Set to Increase in 2018

Global industrial demand for silver rebounded in 2017, rising for the first time since 2013, and according to Johann Wiebe, lead analyst for Thomson Reuters’ GFMS team, this upward trend is likely to continue. Speaking via phone ahead of the April 12 release of the latest World Silver Survey, a collaboration between the GFMS team and the Silver Institute, he explained, “looking forward, there are quite a few things on the horizon … demand will continue to do well with various supporting elements.”

Silver May Be In Short Supply, But All Is Quiet on The Price Front

Silver production declined in 2017 by 4.1% marking the fifth year in a row that the silver market overall posted a deficit. The results are part of the World Silver Report released Thursday by the Silver Institute which includes the GFMS team at Thomson Reuters. Silver prices, however, are still trading range-bound, below $20 an ounce, seemingly ignoring the shortage of supply, but one analyst says that prices are driven by more than what’s simply underground.

Silver futures rise 0.08 pc on overseas cues

Silver prices were trading marginally higher by 0.08 per cent to Rs 39,281 per kg in futures trade today as participants built up fresh positions amid better trend overseas. At the Multi Commodity Exchange, silver for delivery in July was quoting higher by Rs 33, or 0.08 per cent, to Rs 39,281 per kg in a business turnover of 12 lots. Similarly, the white metal for delivery in May was trading up by Rs 23, or 0.06 per cent, to Rs 38,691 per kg in 254 lots. Traders attributed the rise in silver prices at futures trade to a firm trend overseas.

Gold tops Rs 32k-mark on global cues, jeweller buying; silver hits Rs 40k

Gold soared by Rs 300 to trade at Rs 32,150 per ten gram at the bullion market on Thursday on positive global cues amid continued buying by local jewellers Silver also reclaimed the Rs 40,000-level per kg by gaining Rs 240, backed by an increased offtake by industrial units and coin makers. Marketmen said apart from a firm trend overseas, brisk buying by local jewellers to meet retailer demand in the domestic spot market pushed up gold prices.

Global silver output falls 4.1% in 2017, as industrial demand ramps up – GFMS

Prepared by GFMS, the report found that total physical demand of 1.02-billion ounces was 25% lower year-on-year, signalling that the tightening of the supply/demand balance contributed to a physical deficit of 26-million ounces in 2017 – the smallest of five consecutive annual deficits.GFMS said a series of supply disruptions across the Americas, as well as the concerning large drop from the primary silver and gold sectors were to blame for the lower output, where production fell by a combined 29.4-million ounces, the twenty-eighth annual edition of the ‘World Silver Survey’ for The Silver Institute has found.

Gold is taking back its crown from bitcoin as best defensive play, strategist says

Gold soared to two-year highs this week as uncertainty rattled the market. The bull run isn't over yet, says one strategist. "I am a buyer. I really do like it," Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC's "Trading Nation" on Wednesday. It's "retaking its mantle as the key defensive asset against bitcoin, which has certainly suffered a lot over the last couple of months."

Gold turns sideways despite US-China trade dispute

Gold prices ended last week marginally higher with heightened volatility in financial markets and escalating trade spat between two strongest economies. Weak March NFP (non-farm payroll) report caused sudden drop in the dollar last Friday. US 10-year bond yield also tumbled 2 per cent post report. These factors made the gold preferred buying bet for momentum seekers.

Gold Cannot Sustain Recent Highs

The events and market sentiment which moved gold higher yesterday shifted today which resulted in sharply lower gold prices. Gold prices surged to a 21-month high following a tweet made by President Trump, implying an immediate missile response to the chemical weapons attack in Syria.

Gold Gains Most vs. 'Safe Haven' Currencies, GLD Sees No Inflow as 'Hawkish' Fed 'Hammers' Price

GOLD PRICES slipped on Thursday in London, retreating further from yesterday's 2.5-month high against the Dollar after the US Federal Reserve forecast stronger interest-rate rises ahead and US President Donald Trump dialled down his threat to hit Russia's ally Syria with airstrikes.

Rising Gold And Oil Amid Corrections

Hypothesis: Dollar intrinsic or intrinsic analysis of a market, the US Dollar being the dominant currency in the global Fiat system, is a way to view the market through a different lens that represents the true worth by including the value of the dollar. The analysis may provide a shortcut to show the real worth, and sometimes is useful as a leading indicator to warn about the future of a market.

Surprisingly, Higher Gold Prices Aren't Being Driven By Fears of War With Russia

A weaker dollar is the biggest driver of a higher gold price right now, says Frank Holmes, CEO of U.S. Global Investors. Holmes said that there are several fundamental factors behind the recent rally in the yellow metal and it has little to do with President Donald Trump's tweets on Wednesday about the possible military strikes in Syria.

Gold Price Futures (GC) Technical Analysis – April 12, 2018 Forecast

June Comex Gold futures are trading lower on Thursday after posting a strong rally the previous session. The market is being driven down by a stronger U.S. Dollar and increased demand for risky assets. The catalysts behind the rally are the hawkish Fed minutes released on Wednesday and an easing of tensions in the Middle East.

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