Gold Silver Reports — Technically market is under short covering as market has witnessed drop in open interest by 1.39% to settled at 13655 while prices up 311 rupees.
Gold Silver Reports — Technically now Crude oil is getting support at 3150 and below same could see a test of 3182 level, And resistance is now likely to be seen at 3222, a move above could see prices testing 3250.
Gold Silver Reports — The FCI has fixed a procurement target of 33 million tonnes for the 2017-18 fiscal starting April, against the 22.96 million tonnes purchased in the previous year, when production was low at 92.29 million tonnes.
Gold Silver Reports — It’s hard to keep 1.1 billion gold-loving people from buying the metal they trust most. A poll by the World Gold Council last year found that 63% of respondents in India agreed with the statement “I trust gold more than the currencies of countries.” More importantly, 73% agreed with the statement “gold makes me feel secure for the long-term.” Compare that with the small minority of citizens in the United States that own gold or follow the gold market closely. India is clearly dedicated to owning more gold.
Gold Silver Reports — A sharp recovery was noted in Gold following the slightly dovish stance of US Fed. COMEX Gold futures soared around a two week high as continued weakness in the dollar following the Federal Reserves cautionary stance on the pace of interest-rate increases this year boosted the sentiments.
Gold Silver Reports — Silver futures witnessed a mild recovery from lows under $17 per ounce a rebound in Gold futures and a strong undercurrent in Copper prices kept the metal supported.
