Spot gold prices were down 0.1 percent at USD 1,186.80 per ounce at 0110 GMT. On Thursday, they fell to their lowest since January 11 at USD 1,184.03 Gold on Friday held near two-week lows as the dollar strengthened on the new US administration's plans to spur growth, leaving the metal on track to end the week lower for the first time since late December. FUNDAMENTALS * Spot gold prices were down 0.1 percent at USD 1,186.80 per ounce at 0110 GMT. On Thursday, they fell to their lowest since January 11 at USD 1,184.03 * US gold futures fell 0.2 percent at USD 1,187 per ounce. * The dollar index, which measures the greenback against a basket of currencies, rose 0.1 percent to 100.500, after touching a seven-week low of 99.793 in the prior session. * New US single-family home sales fell to a 10-month low in December after three straight months of solid gains, but the housing market recovery remains intact as a tightening labor market boosts wage growth. * Fears of a resurgence of euro zone inflation are exaggerated, so winding down from stimulus has not been discussed, a top European Central Bank policymaker said on Thursday, even as the bank's top hawks suggested that the exit may be close. * Physical gold demand fell 20 percent last year to its lowest since 2009, GFMS analysts at Thomson Reuters said in a report on Thursday, as a rebound in prices blunted appetite for the metal. * China's net gold imports via main conduit Hong Kong rose 2.7 percent in December over the previous month, data showed on Thursday. * Lonmin reported weaker than expected output on Thursday, causing analysts to raise doubts over 2017 production targets. * Switzerland's gold exports to China surged to their highest on record in December at 158 tonnes, data from the Swiss customs bureau showed on Thursday, nearly triple the level of the same month a year earlier. * A joint venture between Russia's top gold producer Polyus and state conglomerate Rostec has bought the rights to develop Sukhoi Log, one of the world's largest untapped gold deposits, for 9.4 billion roubles (USD 158 million). * South African gold and platinum producer Sibanye Gold said on Thursday it may have to cut up to 330 jobs in platinum operations it acquired from Anglo American Platinum AMSJ.J and Aquarius Platinum. * Industrial commodities such as oil and metals are set for further price rises this year, while precious metals prices are likely to fall, said World Bank senior economist John Baffes on Thursday. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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The dollar index, which measures the greenback against a basket of currencies, fell 0.1 percent to 100.220. Gold slipped on Wednesday in a technical correction following an 8 percent rally since mid-December that was stoked by fear about US President Donald Trump's protectionist trade policies. Spot gold prices dipped 0.3 percent to USD 1,204.80 per ounce at 0416 GMT. US gold futures slipped 0.5 percent to USD 1,204.80 per ounce. The dollar index, which measures the greenback against a basket of currencies, fell 0.1 percent to 100.220. "Gold prices have moved higher since the beginning of the year and need some technical correction in the very short-term," said Jiang Shu, chief analyst at Shandong Gold Group. "Generally, there would be huge volatality during the Spring Festival in China as the markets are closed for a week. Gold might test the levels of USD 1,185 during the period." Spot gold is due for a deep correction, following its failure to break a strong resistance at USD 1,219 per ounce, Reuters technical analyst Wang tao said. "Gold seems to be stuck in the range of USD 1,210 as the market lacks risk-off stories," a Singapore based trader said. Trump's protectionist statements and a lack of detail on policy have led some investors to opt for gold, which is often seen as an alternative investment in times of geopolitical and financial turmoil. The metal hit a two-month peak of USD 1,219.59 on Tuesday. On Monday, he formally withdrew from the Trans-Pacific Partnership trade deal and told US manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas. Trump signed orders on Tuesday smoothing the path for the controversial Keystone XL and Dakota Access oil pipelines in a move to expand energy infrastructure, boost jobs, and roll back key Obama administration environmental actions, which helped boost stock markets. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.37 percent to 804.11 tonnes on Tuesday from 807.07 tonnes on Monday. Silver dropped 0.4 percent to USD 17.01. Platinum fell 0.2 percent to USD 993.80, after hitting a high of USD 1,004.50 in prior session, its best since Nov. 10. Palladium inched up 0.2 percent to USD 787.25. It hit a more than 1-1/2-year high of USD 796.20 in the previous session. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Spot gold was mostly unchanged at USD 1,217.42 per ounce by 0337 GMT, after hitting their strongest since November 22 at USD 1,219.59 earlier in the session. Gold prices were steady on Tuesday as the dollar remained under pressure on signs that United States President Donald Trump would adopt a protectionist stance on trade. Spot gold was mostly unchanged at USD 1,217.42 per ounce by 0337 GMT, after hitting their strongest since November 22 at USD 1,219.59 earlier in the session. US gold futures inched up 0.2 percent, to USD 1,218. Trump formally withdrew the US from the Trans-Pacific Partnership trade deal on Monday and told US manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas. "We are looking at gold hitting USD 1,250 within weeks. The rationale is very simple. The market was in honeymoon with Trump. With him in power now, the reality starts to bite," said Dominic Schnider of UBS Wealth Management in Hong Kong. "The market starts to realise the euphoria on how he starts to accelerate the growth and is disappointed. Maybe his policies are inflationary rather than growth supportive." Trump's nominee for Treasury Secretary Steven said that an excessively strong dollar was negative in the short term, according to a report by Bloomberg on Monday. That put additional pressure on the dollar. The dollar index, which measures the greenback against a basket of currencies, fell for a third day by 0.2 percent to 99.930. Trump's campaign calls for tax cuts and more infrastructure spending have boosted US shares and the dollar, as well as driving a selloff in US Treasury bills, but his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions. "Regardless of Trump, the main story for gold is negative interest rates in the US We are not expecting the Fed to raise rates in March and it's just going to be two hikes and that's roughly priced in to the market," Schnider said. Spot gold looks exhausted and may again fail to break a strong resistance at USD 1,219 per ounce before retracing towards a support at USD 1,196, according to Reuters technical analyst Wang Tao. Among other precious metals, silver was flat at USD 17.19 per ounce while platinum gained 0.5 percent, to USD 983.35. Palladium dropped by 0.6 percent to USD 771.80 an ounce, after hitting USD 795.60, its highest since May 2015, in the previous session. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold imports shrink 32% to $ 17.7 bn in Apr-Dec 2016 and other top economy news of the day1/23/2017 Check out the most important news stories which captured the headlines at the economy level in India and internationally. Gold is at two months' high Amid uncertainty of forthcoming economic policies from new US President, Donald Trump, and as the dollar dropped against most of the major currencies, demand of Gold has soared up in the market. Gold price has soared on Monday to the highest in two months. Amid uncertainty of forthcoming economic policies from new the US President, Donald Trump, and as the dollar dropped against most of the major currencies, demand of Gold has soared up in the market. Gold price has soared on Monday to the highest in two months. As at 10:43 a.m IST on Monday, January 23, 2017, Gold Price per Ounce rose about $ 10.90 to $ 1218.60. It earlier made a high of $ 1219.43 which was highest till November 22, 2016. OCBC analyst, Barnabas Gan said that with the lack of clear policy direction from the new US President, Donald Trump, the market movement is a sign that risk aversion is back on the table. Philadelphia's Federal Reserve President, Patrick Harker said on Friday that he expects three interest rate increases in 2017 if the labour market improves further and inflation moves to the Federal Reserve's 2% goal. Precious metals like silver also rose about 0.8 % to $ 17.20; whereas, platinum rose about 0.2% to $ 982.70. Foreign exchange reserves rose by $ 688 mn to $ 359.8 bn in the week to January 13 helped by increase in the foreign currency assets. (BS) Gold imports witnessed a fall of about 32% to $ 17.7 bn in April-December of the current fiscal, which is expected to keep a lid on the current account deficit. (ET) SEBI plans to further tighten the regulations governing participatory notes amid persisting concerns that this route is being used for illicit fund flows. (BS) Claiming that demonetisation has affected country's growth, a major central revenue body has asked Finance Minister not to implement Goods and Services Tax (GST) in a hurry and threatened to take legal recourse in case their concerns are not addressed. (BS) If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
BSE Sensex closed lower by 274 points, or 1 %, to 27,034.50, while the Nifty 50 fell 87.75 points, or 1.02%, to 8,349.35 The 30-share Sensex index of BSE fell 274.10 points to close at 27,034.50 points while S&P Nifty 50 index fell 1.02%, the steepest decline since 22 December, or 85.75 points, to 8349.35 points. Photo: Hindustan Times The benchmark Sensex Index on Friday fell 1%, its steepest fall in seven weeks, after private lender Axis Bank slumped nearly 7% on reports of its asset quality worsening further. Information technology and pharmaceutical stocks fell ahead of Donald Trump’s inauguration as president of the US on fears of his policies having an impact on these sectors.. The 30-share Sensex index of BSE fell 274.10 points to close at 27,034.50 points while S&P Nifty 50 index fell 1.02%, the steepest decline since 22 December, or 85.75 points, to 8349.35 points. “The fall in market was due to weak earnings by the financials and ahead of the Trump’s inauguration” said Sundar Sanmukhani head of fundamental research, Choice Broking. Axis Bank Ltd, India’s third largest private sector lender in terms of assets, fell 6.9%, its biggest fall in three month after its profit plunged 73% in December quarter. The bank’s slippages totalled Rs4,560 crore, of which 36% or Rs1,631 crore was outside the so-called watch-list. “This clearly was a negative surprise, especially given the fact that 70% of the slippages came from stressed sectors like iron and steel, infra,construction and textiles. This clearly reduces the faith on the watch-list that the bank had disclosed, as the same sectors are contributing towards slippages outside of watch-list as well”, brokerage firm Nomura said in a note to its investors. Adding to the fall, Nifty PSU Index slumped 3.1%, its most fall in a month while Nifty Private Bank Index declined 1.6%, steepest since in six weeks. Canara Bank slipped 5% after it reported 32% decline in its net profit as bad loans continued to surge and provisions soared. Other lenders like Punjab National Bank too fell 3.1%, most in a month. ICICI Bank Ltd and State Bank of India dropped 2.3% and 2.8% respectively. Both the lenders saw their steepest decline in two months. Investors have been closely monitoring Trump’s plans for fiscal stimulus, deregulation of certain sectors and tax reform and a better than expected China’s gross domestic product data and less hawkish comments by Fed chairmen on interest rates have failed to soothe them. China’s gross domestic product grew 6.8%, better than market expectation. Federal Reserve Chair Janet Yellen backed a strategy for gradually raising interest rates, arguing that the central bank was not behind the curve in containing inflation pressures but nevertheless can’t afford to allow the economy to run too hot, Bloomberg reported If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold and copper rebounded in Asia on Friday after China reported solid GDP, retail sales and industrial output and the Fed chief showed caution in remarks about the growth capacity of the economy. Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.43% to $1,206.65 a troy ounce. Copper futures gained 0.27% to $2.618 a pound. China's gross domestic product (GDP) grew 6.8% year-on-year in the fourth quarter, slightly beating expectations by analysts of 6.7% growth for the calendar year, but in line with estimates from the head of China's state planning agency. The figures likely signaled that China's economic growth is starting to stabilize as it transitions from heavy manufacture to domestic-led consumption. For the quarter-on-quarter GDP figure the increase of 1.7% as expected. Industrial production gained 6.0%, a tick below the 6.1% rise seen, while retail sales jumped 10.9%, beating the 10.7% increase expected. Earlier, Federal Reserve Chair Janet Yellen said that running a "hot" economy for an extended period would be a risk. "I think that allowing the economy to run markedly and persistently "hot" would be risky and unwise," Yellen said in remarks prepared for delivery to the Stanford Institute for Economic Policy Research. While there are no signs as yet that the Fed is behind the curve or the economy is in danger of a sudden surge in inflation, she said, "I consider it prudent to adjust the stance of monetary policy gradually over time." Overnight, gold prices remained under pressure during U.S. morning trade on Thursday, holding on to earlier losses as investors awaited more comments from Federal Reserve Chair Janet Yellen for fresh clues about the timing of the next rate hike. In remarks delivered to the Commonwealth Club in San Francisco on Wednesday, Yellen said it would "makes sense" for the U.S. central bank to gradually lift interest rates with the U.S. economy close to full employment and inflation headed toward the Fed's 2% goal. The Fed chief said that she and other Fed policymakers expected the central bank to lift its key benchmark short-term rate "a few times a year" through 2019. That pace could change depending on how the outlook for the economy develops, Yellen cautioned. The Fed indicated last month that at least three rate increases were in the offing for 2017, according to a forecast of interest rates from members of the central bank, known as the dot-plot. However, traders remained unconvinced. Instead, markets are pricing in just two rate hikes during the course of this year, according to Investing.com’s Fed Rate Monitor Tool. Meanwhile, global financial markets will continue to focus on U.S. President-elect Donald Trump as he takes the Oath of Office and offers his inaugural address on Friday. Trump will be speaking at a pre-inauguration event in Washington DC at 11:15AM ET (16:15GMT) on Thursday. Investors will welcome any detail he may give on his promises of tax reform, infrastructure spending and deregulation, as well as insight regarding policies on China and the domestic economy. Trump has been credited with being a major catalyst behind the market's impressive rally since election day, although he has yet to outline his economic policies in detail. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Spot gold was largely flat at USD 1,203 per ounce by 0100 GMT. The bullion hit an eight-week high of USD 1,218.64 on Tuesday, but fell 1 percent in the previous session as dollar strengthened. Gold prices on Thursday held on to their losses from the previous session, when they fell 1 percent on a strong dollar, after Federal Reserve Chair Janet Yellen advocated lifting US interest rates gradually. FUNDAMENTALS:
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Spot gold was firm at USD1,216 per ounce by 0322 GMT. Bullion hit an eight-week high of USD1,218.64 in the previous session. Spot gold was firm at USD1,216 per ounce by 0322 GMT. Bullion hit an eight-week high of USD1,218.64 in the previous session. Gold prices on Wednesday hovered below eight-week highs hit in the previous session as uncertainty over U.S. President-elect Donald Trump's economic plans and his comments on strong greenback caused the dollar to decline. Spot gold was firm at USD1,216 per ounce by 0322 GMT. Bullion hit an eight-week high of USD1,218.64 in the previous session. U.S. gold futures were up 0.2 percent at USD1,215.60 per ounce. In an article in the Wall Street Journal late Monday, Trump said the strength of the U.S. dollar against China's yuan "is killing us". "What's really given an extra boost for gold is Trump's comments...and some risk aversion sentiments due to Brexit moves," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore. "The next resistance level is around USD1,240 and there is a possibility that we can run up to USD1,230 until Friday. But, don't see gold going above that over the next couple of months," he said. Britain will quit the EU single market when it leaves the European Union, Prime Minister Theresa May said on Tuesday in a decisive speech that set a course for a clean break with the world's largest trading bloc. "Once Trump takes office and there is some clarity, the focus will come back to the fact Fed is going to hike rates a number of times this year. That would reduce the appeal of gold as an asset," Halley said. San Francisco Federal Reserve Bank President John Williams on Tuesday called for gradual U.S. interest-rate hikes over the next few years to keep the economy from overheating and ultimately falling into recession. Fed Governor Lael Brainard, a leading Federal Reserve proponent of low interest rates, said on Tuesday the U.S. central bank might hike rates more aggressively if deficit spending under the Trump administration produced a quick economic boost. Fed Chair Janet Yellen will have an opportunity to lay out her thinking with speeches on monetary policy on both Wednesday and Thursday this week. Higher interest rates would reduce demand for non-interest bearing bullion holdings. Trump's campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, as well as driving a selloff in Treasuries, but his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions, instead opting for gold. Gold, considered a safe-haven investment during times of geopolitical and financial uncertainty, has risen over 8 percent since dropping to a more than 10-1/2-month-low in December. Spot silver was little changed at USD17.16 an ounce, after hitting an over one-month high of USD17.20. Platinum rose 0.4 percent to USD977.90 an ounce, while palladium rose 0.5 percent to USD751.30. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
At the Multi Commodity Exchange, gold for delivery in February month rose by Rs 76, or 0.27 percent to Rs 28,605 per ten grams in business turnover of 410 lots. Tracking a firming trend overseas, gold advanced for the second straight day and prices rose further by 0.27 percent to Rs 28,605 per 10 grams in futures trade today as speculators engaged in widening their bets. At the Multi Commodity Exchange, gold for delivery in February month rose by Rs 76, or 0.27 percent to Rs 28,605 per ten grams in business turnover of 410 lots. On similar lines, the metal for delivery in far-month April contracts was trading higher by Rs 59, or 0.21 percent to Rs 28,581 per ten grams in 7 lots. Analysts said a firming trend in precious metals overseas as lingering concern over Donald Trump's policies and the UK's position in the European Union, buoyed sentiment here. Globally, gold rose 0.34 percent to USD 1,206.70 an ounce in Singapore. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
As the US president-elect, Donald Trump's joining day is coming closer, Gold has again started rising high on Monday. As this is considered as a safe haven amid such a sort of uncertainty over US policy changes and concerns over BREXIT. As the US president-elect, Donald Trump's joining day is coming closer, Gold has again started rising high on Monday. As this is considered as a safe haven amid such a sort of uncertainty over US policy changes and concerns over BREXIT. Gold Spot rose 0.5% to $ 1,203.10 per ounce by 02:43 GMT. Whereas, US gold futures was also up about 0.6% at $ 1,203.60 per ounce. Gold Spot is facing strong resistance near $ 1205 - $ 1210 range and it may hover below that or crack towards the support level of $ 1172, according to Reuters' technical analyst, Wang Tao. "Buying shows that people are looking ahead this week to Trump's joining and discussions on Brexit. There is a lot of uncertainty moving forward," Brian Lan, MD of Singapore-based gold dealer, Gold Silver Central, said ."On the physical side, people are expecting good demand from China ahead of the Chinese New Year," he added. It would be interesting to see what Donald Trump comes up with post his joining on Friday. Till then Gold is likely to remain a safe haven for the investors. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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