Gold Silver Reports (GSR) — Analysts will likely look out for comments from Draghi on the ECB’s outlook for economic growth and inflation, as well as details on the central bank’s reinvestment plans for maturing bonds.
Diwali Gold Silver Tips 08 November 2018 By Neal Bhai (Gold Silver Target 2000 Points)
Neal Bhai Reports – 9899900589 & 9582247600
In global markets, gold prices however advanced as US mid-term elections delivered a split Congress and pressured the dollar. Market participants will now keep a close eye on a two-day Fed meeting starting later in the day for clues on future interest rate hikes. Spot gold was up 0.5% to $1,232.86 per ounce at 1203 GMT, while US gold futures climbed 0.7% to $1,234.30 an ounce.
The dollar index, which measures the price of greenback against a basket of other currencies, fell more than half a percent, making bullion more attractive for holders of other currencies
Democrats won control of the US House of Representatives, giving them the opportunity to block President Donald Trump’s push for a further round of tax cuts and deregulation – measures that have turbo-charged the US economy, stock markets and the dollar, and have kept the Fed on a policy-tightening path.
“This will presumably put paid to any further tax cuts, which means in the longer term that the Fed will need to implement fewer rate hikes, which per se will have a negative impact on the U.S. dollar,” Commerzbank analysts said in a note.
“President Trump may instead focus more on foreign policy, which is likely to generate additional uncertainty. Gold would profit long-term from both factors.”
Federal Reserve Open Board Meeting
Infosys Q2 Earnings Today : Five Things to Watch out For — The second largest IT player by revenue, will report its second quarter results on Tuesday. All eyes will be on any revision in revenue growth guidance for FY19, outlook on BFSI space, performance of digital vertical and upward estimate in margins, if any, in the wake of rupee depreciation.
Live Gold Silver Reports And Update 27 August 2018 – Neal Bhai Reports
Gold prices today hit a one-month high, buoyed by buying by local jewellers amid festive buzz. In Delhi, gold prices hit the Rs 31,000 mark today by gaining Rs 100, according to PTI. Gold prices had gained Rs 280 in previous two days. Silver prices also advanced by Rs 50 to Rs 38,300 per kg due to increased offtake by industrial units and coin makers. Gold of 99.9 and 99.5 per cent purity in Delhi climbed Rs 100 each to Rs 31,000 and Rs 30,750 per 10 gram, respectively.