15th May, 2018

Tuesday, May 15

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.
China is to release data on fixed asset investment and industrial production.
The UK is to publish its latest employment report.
The euro zone is to release preliminary data on first quarter economic growth.
The ZEW Institute is to report on German economic sentiment.
The U.S. is to produce data on retail sales and manufacturing activity in the New York region.

Daily Gold Market Report

Gold breaks the support – Analysis - 15-05-2018
Gold price ended yesterday’s trading below 1316.48 level, to fall under potential negative pressure in the upcoming sessions, targeting testing 1301.20 level mainly. Therefore, the bearish bias will be suggested for today unless the price managed to breach 1316.48 level and hold with a daily close above it again. Expected trading range for today is between 1300.00 support and 1320.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver heads towards the support – Analysis - 15-05-2018
Silver price rebounds bearishly after testing the sideways range resistance that appears on the chart, to head towards potential visit to the support line at 16.15, which keeps the price confined between the mentioned support and 16.80 resistance. Therefore, we will continue to suggest the sideways trading until the price manages to breach one of the mentioned levels, noting that the continuation of the negative pressure and breaking 16.15 support will push the price towards 15.49 as a next station, while breaching 16.80 will lead the price to start attempts to regain the main bullish trend that targets visiting 17.43 level initially. Expected trading range for today is between 16.30 support and 16.70 resistance. Expected trend for today: Sideways

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Proposal for Photocard for Hallmarked Jewellery

Gold, silver slip on reduced demand

Gold prices today slipped by Rs 25 to Rs 31,440 per 10 grams at the bullion market here due to subdued demand from stockists and retailers despite higher global cues. Silver prices too declined by Rs 250 to Rs 40,040 per kg following reduced offtake from industrial units. Traders said fading demand from local jewellers and retailers at current higher levels led to fall in precious metals, though a firm overseas trend capped the losses.

World Bank Thinks Gold and Silver Have Seen Their Best Days In 2018

Kitco News) - The gold market may have put in its best performance of the year as the first quarter came to an end and investors looking for higher silver prices might be disappointed this year, according to the latest report from the World Bank. In its semi-annual report, released last month the international bank for banks, said its Precious Metals Price Index saw a 4% increase in the first quarter, following marginal growth in the first quarter of 2017.

Silver futures drop to Rs 40,128 per kg

Silver prices moved down by 0.55 per cent to Rs 40,128 per kg at the futures trade as participants trimmed down their bets owing to weak global cues. At the Multi Commodity Exchange, silver for delivery in July fell Rs 220, or 0.55 per cent to Rs 40,128 per kg in a business turnover of 945 lots. Likewise, the white metal for delivery in September was trading lower by Rs 209 or 0.51 per cent at Rs 40,690 per kg in 30 lots.

Gold’s Beauty Contest Still Has Legs

After a rally from its lows in mid-December to a peak of $1,358 an ounce Jan. 24, the metal has lost all its vigor. Prices traded sideways before slumping in recent weeks to the low $1,300s. Without some gains soon, the 50-day moving average looks likely soon to slip below the 100-day measure, considered a bearish signal by many traders.

Gold prices to trade lower today: Angel Commodities

Spot gold prices traded lower by 0.4 percent on Monday as firm dollar weighed on the yellow metal. Also, SPDR Gold holdings fell 0.17 percent to 856.17 tonnes on Monday. Gold prices were supported earlier by weaker CPI numbers from the US, suggesting that rate hikes would not be as aggressive .

Bitcoin, Gold, Stocks, Bonds, Or Real Estate: Which Is The Best Investment To Build Wealth?

Building wealth is everybody’s financial goal. Some want to build wealth for the amenities and the trophies it provides: nice houses, luxury cars, elegant yachts, pricey clothes, dining extravaganzas, and exotic traveling. Others want to build wealth for financial freedom, independence, and the security wealth offers.

PRECIOUS-Gold little changed; firm dollar, U.S. rate outlook weighs

BENGALURU, May 15 (Reuters) - Gold traded sideways in Asian hours on Tuesday, buoyed by safe-haven demand with upside potential restricted by a firm dollar and outlook for higher interest rates in the United States. Spot gold was nearly unchanged at $1,311.51 per ounce at 0619 GMT. U.S. gold futures for June delivery were, however, down 0.5 percent at $1,311.30 per ounce. The rising tensions in Gaza had induced some safe-haven buying for gold earlier in the session, ANZ analysts said in a note.

Gold, silver slip on reduced demand

Gold prices today slipped by Rs 25 to Rs 31,440 per 10 grams at the bullion market here due to subdued demand from stockists and retailers despite higher global cues. Silver prices too declined by Rs 250 to Rs 40,040 per kg following reduced offtake from industrial units. Traders said fading demand from local jewellers and retailers at current higher levels led to fall in precious metals, though a firm overseas trend capped the losses.

Investors continue to exit from Gold ETFs in April; prefer equities

Investors remained bearish on gold exchange-traded funds (ETFs) as they pulled out Rs 54 crore from the instrument in April, preferring equities over them. The net outflow meant assets under management (AUM) of gold funds slipped to Rs 4,802 crore from Rs 4,806 crore in the preceding month, according to latest data available with Association of Mutual Funds in India (Amfi). Trading in gold ETF segment has been lukewarm during the last five years. It witnessed an outflow of Rs 835 crore, Rs 775 crore, Rs 903 crore, Rs 1,475 crore and Rs 2,293 crore in 2017-18, 2016-17, 2015-16, 2014-15 and 2013-14, respectively. However, the segment had witnessed an infusion of Rs 1,414 crore in 2012-13.

High Grade Gold Discovered at Classic Minerals’ Forrestania Project

Classic Minerals (ASX:CLZ) this morning announced that its recent RC drilling program has unearthed high grade gold at the Forrestania Gold Project (FGP) in Western Australia. The company drilled a total of 11 holes for 750m, including two holes for 174m at new prospect Van Uden West, five holes for 366m at Lady Lila, and four holes for 210m at Kat Gap. The aim of the program was to uncover a new gold system (at Van Uden West) and improve/increase the known mineralisation at Lady Lila and Kat Gap.

When Interest Rates Go Up, Gold Doesn’t: ‘It’s Totally Fallacious’ — Eric Sprott

(Kitco News) - The argument that when interest rates go up, gold goes down is a “totally fallacious” one, said Eric Sprott, billionaire precious metals investor and founder of Sprott Inc. “I don't believe the argument, but it's an argument that's made … Interest rates go up, gold doesn't go up, it's totally fallacious. But you get it in the markets,” Sprott said during Sprott Money’s Weekly Wrap-Up on Friday.

A Crypto Tycoon, Banking Heir and the Mysterious Fight for Gold

More than a dozen Edmontonians duped by phoney gold jewelry scam

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