Gold Silver Reports – Gold Price Report October 26, 2017 – Gold markets were slightly positive during the day, but gave back most of the gains as we continue to consolidate around the $1275 level. I think we break down below the $1270 level, the market should then go down to the $1250 level underneath.
India’s Banks Need More Than a Bailout
Gold Silver Reports – India has long been faced with a slow-motion bank crisis. In particular, the state-controlled institutions that dominate the sector have a bad-loan ratio that’s almost twice as bad as their private counterparts. At last count, non-performing assets made up more than 10 percent of banks’ advances, and were growing ever faster.
Gold Prices Slip Fed Chair Speculation
Gold Silver Reports – Gold prices edged lower on Wednesday, pressured by stronger equities and a firmer dollar amid speculation over who will be the next US Federal Reserve chief. Spot gold was down 0.2% at $1,273.70 an ounce and US gold futures for December delivery were 0.2% lower at $1,275.20 per ounce.
Sensex Falls Below 32000, Nifty Trades Lower, Private Banks Stocks Fall
Gold Silver Reports – Sensex Falls Below 32000, Nifty Trades Lower, Private Banks Stocks Fall – The BSE benchmark fell by over 200 points, pulling back from its record highs, on heavy profit booking in banking, FMCG, oil and gas, pharma and capital goods stocks after a recent rally. Offloading of positions by participants with Thursday being the last trading session of October series contracts in the derivatives segment pulled the index back from record levels, a broker said.
Investors Are Dumping This Silver ETF at the Fastest Pace Since 2011
Gold Silver Reports – Investors Are Dumping This Silver ETF at the Fastest Pace Since 2011 – Silver has tumbled about 7 percent since trading at a four-month high in September as precious metals lose favor amid the record-breaking rally in U.S. equity indexes.
North Korea Calls US Naval Exercise Preparation for Nuclear War
Gold Silver Reports – North Korea Calls US Naval Exercise Preparation for Nuclear War – North Korea’s ambassador called on the U.N. Security Council Wednesday to urgently discuss the recent U.S. joint naval exercise near the Korean peninsula, calling it preparation for a pre-emptive strike and nuclear war against his country.
Global Gold Prices Up, But Stuck in Tight Range
Gold Silver Reports – Gold prices inched up on Tuesday on the back of a slightly weaker dollar, but traded in a tight range amid possibilities of an early announcement on the next US Federal Reserve chair.