16th April, 2018

Monday, April 16

The week long spring meetings of the IMF and World Bank Group are due to get underway in Washington.
Switzerland is to publish data on producer price inflation.
The U.S. is to release data on retail sales and manufacturing activity in the New York region.
Meanwhile, Atlanta Fed President Raphael Bostic is to speak at an event in Alabama.

Daily Gold Market Report

Gold resumes rising – Analysis - 16-04-2018
Gold price begins today’s trading with calm bullish bias that hints the attempt to resume the main bullish trend, after the price tested the key support 1335.40 in the previous sessions, and the price needs to get enough positive momentum to rally towards our first target at 1365.97. Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1335.40, noting that breaching the first target will push the price towards 1400.00 as a next main station. Expected trading range for today is between 1335.00 support and 1370.00 resistance. Expected trend for today: Bullish

Daily Silver Market Report

Silver rises calmly – Analysis - 16-04-2018
Silver price shows slight bullish bias on its way to test 16.80 level, which represents the sideways range’s resistance line that its support line located at 16.15, and as long as the price is between these levels, the sideways move scenario will remain valid on the intraday basis, waiting to breach one of these levels to detect the next targets clearly. We remind you that breaching 16.80 resistance will push the price to achieve positive gains that reach 17.43 as a next station, while breaking 16.15 support will push the price to visit 15.49 level before any new attempt to rise. Expected trading range for today is between 16.40 support and 16.85 resistance. Expected trend for today: Sideways

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Gold / Silver / Copper Prices - Weekly Outlook: April 16 - 20

Investing.com - Concerns over geopolitical tensions and an ongoing trade spat between China and the U.S. may support safe haven demand for gold this week but the precious metal will remain vulnerable to any gains in the dollar in the face of expectations for higher U.S. interest rates. Gold futures for June delivery settled up 0.44% at $1,347.80 on the Comex division of the New York Mercantile Exchange. For the week, prices were up 0.88%.

Gold past Rs 32,000 mark: Brace for priciest Akshaya Tritiya ever!

AHMEDABAD: Planning to go for some gold shopping on Akshaya Tritiya next week? You may have to shell out more than you have splurged on this auspicious day in the past. This year’s Akshaya Tritiya, on April 18, is expected to be the costliest ever as gold prices are likely to remain firm amid escalating tension between Syria and the US.

Gold Prices Drop As Markets Focus On Russia’s Possible Syria Strike Retaliation

(Kitco News) - Gold began to decline as soon as Asian markets opened early on Monday, with traders waiting for possible retaliatory moves from Russia after U.S., France, and Britain launched air strikes on Syria over the weekend. Spot gold on Kitco.com was last trading at $1,340.20, down 0.38% on the day, while Comex June gold futures were at $1.343.40, down 0.33% on the day. One hundred and five missiles targeted alleged chemical weapons facilities in Syria.

Oil, gold open lower despite Syria strikes; Russian retaliation in focus

“The news flow is actually better than what it looked like at one point during last week, as the strike was surgical, followed by a pullback. Reports show a lot of care was taken not to hit Russian targets, which is a good sign and the market should take heart from that,” said Salman Ahmed, chief investment strategist at Lombard Odier investment managers in London, speaking before trading resumed.

Akshaya Tritiya: Despite gold at Rs 32k, jewellers see 20% growth in sales

Jewellers are expecting 15-20 per cent increase in sales this Akshaya Tritiya, mainly on the back of positive market sentiment, stable prices and ongoing wedding season. "Things are looking positive this year and the prices are also stable, ruling at around Rs 30,820 per 10 grams. There is also a lot of traction for wedding jewellery due to ongoing marriage season.

Queen&'s 'heart of gold' stolen from French museum

It narrowly escaped being melted down after the French Revolution, but a 16th century gold case containing the heart of the only woman to have twice been crowned queen of France has now been stolen. The theft of the reliquary containing the heart of Anne of Brittany, who was briefly betrothed to the Prince of Wales, has provoked outrage over the loss of an object of enormous historical value.

Is Gold Building A Launchpad?

After finding a bottom in December of 2015, gold has continued its upward ascent. Gold has traded in a relatively small range for all of 2018 after rallying in late 2017.Some of the factors that we track suggest that gold is building a launch pad to finally overtake the $1,400/oz level, where it will hopefully get some interest from momentum long traders.

Why Gold Does Not Belong in Your Portfolio

What should investors do when it comes to gold? SPDR Gold Shares (NYSE:GLD) is the vehicle under which most investors are able to hold gold. The GLD ETF represents fractional, undivided beneficial ownership interests in a trust whose sole assets are gold bullion on and, from time to time, cash. So the GLD ETF is one step removed from actually holding gold in your own vault. The question is whether or not you should own the GLD ETF and, if so, under what parameters?

What’s Sucking the Air Out of Gold’s Rallies?

Gold prices are locked in a tug of war, with investors piling in during periods of political stress only to pull out when interest rates look poised to rise. Bullion has stayed between $1,303 and $1,362 a troy ounce this year, based on front-month futures prices. And while the S&P 500 entered correction territory in February and is down 7.5% from its Jan. 26 all-time high, gold is down 0.5% during that time.

With investors nervous over Syria and Russia, 'emotional' gold could get a big boost, metal expert says

Gold is in a holding pattern until investors find a fresh reason to get edgy, according to a veteran trader. Ambrosino Brothers' Todd Colvin told CNBC "Futures Now" last week that "$1330 to $1350 [an ounce] has really been a very comfortable range for gold. The next catalyst is probably going to come from the Fed and the U.S. economy."

Should you buy gold this Akshaya Tritiya?

Akshaya Tritiya is on 18 April. Gold bought on this auspicious day 10-20 years ago has earned double-digit returns.But returns have diminished in recent years and the metal is no longer a hedge against inflation. However, rising oil prices and geopolitical tensions could push up gold in 2018.

PRECIOUS-Gold edges up after Syria strikes

BENGALURU, April 16 (Reuters) - Gold prices edged higher early on Monday, even as the dollar and equity markets firmed on relief that weekend missile strikes against Syria by the United States, France and Britain may be a one-off event. FUNDAMENTALS * Spot gold was up 0.1 percent at $1,346.1 an ounce as of 0115 GMT after an initial dip, and U.S. gold futures rose 0.1 percent to $1,349.2 an ounce.

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