03rd August, 2018

Friday, August 3

Australia is to publish data on retail sales.
The UK is to release data on service sector activity.
Canada is to publish trade figures.
The U.S. is to round up the week with the nonfarm payrolls report for July and the ISM report on non-manufacturing activity.

Daily Gold Market Report

Gold price reaches the target – Analysis - 03-08-2018
Gold price settles at the bearish channel’s support line that appears on the chart, moving near our main waited target at 1204.50, noting that the price is negatively affected by the bearish flag pattern formed by the minor bullish channel that appears on the chart, which means that the way is open to achieve more decline in the upcoming period, as the next target reaches 1180.55 areas. Therefore, we will keep our bearish overview in the upcoming period, noting that breaching 1220.00 might push the price to test 1236.50 followed by 1247.00 levels before any new attempt to decline. Expected trading range for today is between 1190.00 support and 1220.00 resistance. Expected trend for today: Bearish

Daily Silver Market Report

Silver price completes the negative pattern – Analysis - 03-08-2018
Silver price succeeded to break the bearish pennant’s support line that appears on the chart and begins the attempts to return to the bearish channel, which supports the expectations of continuing the bearish trend on the intraday and short term basis, reminding you that our next main target is located at 14.77, while holding below 15.50 represents key condition to continue the expected decline. Expected trading range for today is between 15.00 support and 15.50 resistance. Expected trend for today: Bearish

IBJA announces launch of "Indian Jewellers Week" (IJW) a dream project for manufacturers and wholesalers across India with its first edition at Zaveri Bazaar, Mumbai from 1st to 7th October 2018. IJW ,
the business at your doorstep is organised by Glambox.
Banaye Aasan Jewellery Vyapar

XAUUSD Analysis: Approaches dominant support

The resistance of the simple moving averages managed to force gold prices lower. The descent had almost reached the 1,200.00 level by the middle of Friday's trading session. However, the commodity price was still set to face various support levels below it properly touches the psychologically significant 1,200.00 level. The lower trend line of a dominant pattern on Friday was located just above the 1,204.00 mark. In addition, the first monthly support pivot point level is located at the 1,202.25 mark.

Gold hits one-year low, headed for fourth weekly loss

BENGALURU (Reuters) - Gold prices fell to their lowest in over a year on Friday amid a resilient U.S. dollar and were headed for a fourth straight weekly loss. Spot gold was down 0.1 percent at $1,206.05 an ounce at 0644 GMT, after earlier dropping to the lowest since July 2017 at $1,204.91. For the week, the precious metal was down about 1.4 percent.

Gold demand slumps to lowest level since 2009

Global demand for gold fell to its lowest level since 2009 in the first half of this year as an improving US economy drove investors to riskier assets and consumers bought less gold jewellery, particularly in India where an inauspicious period for Hindus led to fewer weddings.Central bank purchases also slowed, although demand for gold used in electronics such as smartphones, games consoles and vehicles hit a three-year high.

Perth Mint thief stole $55,000 in gold coins, bars to fund fiancee's lifestyle demands

Joseph Charles Viola, 29, pleaded guilty in the District Court to six charges of stealing the items, worth a total of $55,000 and including a limited edition Kimberley sunrise coin, between February and April 2016. He was caught after an audit was conducted by the Mint's security, which revealed five gold bars and eight gold coins were missing from a vault. CCTV footage was then reviewed which showed Viola taking a gold coin from a vault, hiding it in a computer tower and then transferring the coin into his trouser pocket, before leaving the Mint at the end of his shift.

Gold falls to lowest in a year

Gold fell to its lowest price in a year following a report that showed the bullion market suffered its weakest start in almost a decade and as the US dollar advanced.

Gold ends at more-than-1-year low as dollar shifts higher for the week

Gold futures fell Thursday, closing at a more-than-one-year low, as trade tensions between the U.S. and China resurfaced a day after the Federal Reserve affirmed its intention to lift rates further in 2018. Both factors have given the U.S. dollar more buoyancy in recent trade, weighing on commodities pegged to the currency. December gold GCZ8, -0.39% fell by $7.50, or 0.6%, to settle at $1,220.10 an ounce. Gold gained in electronic trading in the immediate aftermath of the Fed decision, which came a half-hour after gold futures settled Wednesday, then retreated. Gold, which hasn’t ended a session at level this low since July 2017, has now posted loss in five out the past six sessions.

What The FTC Diamond Ruling Means For Consumers And Diamond Marketers

The Federal Trade Commission recently amended its Jewelry Guides to help prevent deception in jewelry marketing. With new guidance for the jewelry industry, its wide-ranging ruling is a welcome relief to the man-made diamond industry and a migraine-sized headache for the mined-diamond industry. At the end of the day, it’s consumers who will benefit most from the new ruling.

India gold demand to revive in H2 as government supports farmers - WGC

MUMBAI (Reuters) - Indian gold demand is set to improve in the second half of 2018, after falling 6 percent in the first half, as government steps to boost farmers’ incomes are expected to lift rural buying power, the World Gold Council (WGC) said on Thursday.

Gold grinds lower as the dollar strengthens

LONDON (Reuters) - Gold prices edged lower on Thursday after an upbeat assessment of the U.S. economy by the Federal Reserve and new trade tensions between Washington and Beijing boosted the dollar and U.S. bond yields. Gold has slumped 11 percent since April to its lowest in a year as rising U.S. interest rates and the perception that trade wars will damage the United States less than other nations pushed the dollar higher. The stronger dollar hurts gold because it makes bullion more expensive for buyers with other currencies. Higher bond yields meanwhile make non-yielding gold less attractive to investors.

Mumbai: Four flee with gold worth Rs 2.4 crore, arrested

Gold Prices Plunge Today, Silver Also Falls: 10 Things To Know

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