Thursday, October 31, 2019
Wednesday, August 26, 2015
Undertone gold weak
Gold is solidly lower in early U.S. trading
Gold is solidly lower in early U.S. trading Wednesday, pressured by rallies in most major world stock markets today that have pulled investor interest away from the safe-haven metal. An upbeat U.S. durable goods orders report Wednesday morning also put more selling pressure on gold. However, there is an entire U.S. trading session that lies ahead, and no one knows what the end of the day will bring. A weakening in the U.S. stock market as today’s session progresses would likely boost the gold market. December Comex gold was last down $18.30 at $1,117.50 an ounce. September Comex silver hit a six-year low this morning and was last down $0.565 at $13.96 an ounce.
SPOT SILVER UPDATES
September silver futures bears have the solid near-term technical advantage as prices hit a six-year low today. Bulls’ next upside price breakout objective is closing prices above solid technical resistance at $15.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $14.00. First resistance is seen at $14.50 and then at today’s high of $14.705. Next support is seen at today’s contract low of $14.11 and then at $14.00. SPNGOLD Market Rating: 1.0.
Overall the trend seems to be weak.
Gold currently 0.995 purity is rs 26574
per 10 gms.The spot gold price is approx 1126$.May fall to 1111$ soon.Silver too is loosing support.
China effect is seen all throughout.
China effect is seen all throughout.
Saturday, June 6, 2015
Gold Bearish
In the national capital, gold of 99.9 percent and 99.5 percent purity slid Rs 50 each to Rs 26,950 and Rs 26,800 per 10 grams, respectively, its weakest level since April 17. The precioushttp://www.reliancemgp.com/images/price.jpgmetal had lost Rs 340 over the past two days. Sovereign fell Rs 100 to Rs 23,600 per piece of 8 grams.
Gold in New York, which normally sets the price trend on the domestic front, fell 0.6 percent to USD 1,168.10 an ounce and silver by 0.7 percent to USD 15.98 an ounce in yesterday's trade.
Gold in New York, which normally sets the price trend on the domestic front, fell 0.6 percent to USD 1,168.10 an ounce and silver by 0.7 percent to USD 15.98 an ounce in yesterday's trade.
Friday, June 5, 2015
Gold India Bearish
"We expect the gold prices to remain bearish and if the rupee continues to rule at current level the yellow metal may touch Rs 24,500 level by December," Motilal Oswal associate vice president for commodities Kishore Narne said. Echoing similar views, Commtrendz Research director Gnanasekar Thiagarajan said the prices are expected to be around Rs 25,000-25,500 by December if the rupee continues at the current 61 levels.
Weak global prices: In global commodity markets, gold was trading near its lowest since 2010, at $1,168 an ounce. With gold breaking the critical support levels of $1,180, there could be more downside to its prices, said Vikas Vaid, product head of commodity and currency at Prabhudas Lilladher. He expects gold to consolidate at $1,125 levels.
"Gold demand could pick up if prices fall by Rs 1,000 from current levels," said Mr Vaid of Prabhudas Lilladher.
Weak global prices: In global commodity markets, gold was trading near its lowest since 2010, at $1,168 an ounce. With gold breaking the critical support levels of $1,180, there could be more downside to its prices, said Vikas Vaid, product head of commodity and currency at Prabhudas Lilladher. He expects gold to consolidate at $1,125 levels.
"Gold demand could pick up if prices fall by Rs 1,000 from current levels," said Mr Vaid of Prabhudas Lilladher.
Friday, February 13, 2015
gold global
Central banks around the globe continued to gobble up gold to add to their reserves in 2014 purchasing a total of 477 tonnes, which is a 17% jump from 2013, according to the World Gold Council.
It was the second highest year of central bank purchases in 50 years.
Russia was the stand-out buyer in 2014, as the country added 173 tonnes to its reserves. Now, Russia holds over 1,200 tonnes of gold and is the sixth largest holder of gold in the world. "They have been buying 10-25 tonnes per month over the last five to six years. The Russian central bank continues to show they are looking to continue that," said Ashish Bhatia, director of central banks and public policy at the World Gold Council.
It was the second highest year of central bank purchases in 50 years.
Russia was the stand-out buyer in 2014, as the country added 173 tonnes to its reserves. Now, Russia holds over 1,200 tonnes of gold and is the sixth largest holder of gold in the world. "They have been buying 10-25 tonnes per month over the last five to six years. The Russian central bank continues to show they are looking to continue that," said Ashish Bhatia, director of central banks and public policy at the World Gold Council.
Sunday, January 25, 2015
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