Gold Silver Reports (GSR) – Gold prices climbed by Rs350 to Rs 32,475 per 10 gram at the bullion market on Friday, extending its rising streak for the fourth straight day largely on firming trend overseas amid persistent buying by local jewellers.
commodity market news
Gold Prices Zoom on Donald Trump Decided to Terminate the Planned Summit in Singapore on June 12th
I have decided to terminate the planned Summit in Singapore on June 12th. While many things can happen and a great opportunity lies ahead potentially, I believe that this is a tremendous setback for North Korea and indeed a setback for the world… pic.twitter.com/jT0GfxT0Lc
— Donald J. Trump (@realDonaldTrump) May 24, 2018
MCX Silver Tips Below 40100 Only Sell, Silver MCX Trading Zone 39200-40100 – Neal Bhai MFA Technical Analyst
Neal Bhai MFA Technical Analyst – MCX Silver Tips Below 40100 Only Sell, Silver MCX Trading Zone 39200-40100 – U.S. retail sales increased marginally in April as rising gasoline prices cut into discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter. Federal Reserve Chair Jerome Powell’s top deputies are edging toward a clash that could shape the pace of interest-rate hikes in coming months, as well as how the Fed should prepare for and combat the next economic downturn.
Gold Prices Slip on Easing Demand From Jewellers
Gold Silver Reports (GSR) – Gold Prices Slip on Easing Demand From Jewellers — Gold prices on Monday softened by Rs115 to Rs32,285 per 10 gram on sluggish demand from local jewellers even as overseas trend firmed up. Silver prices also eased by Rs100 to Rs41,300 per kg due to reduced offtake by industrial units and coin makers.
China Shunning U.S. Soybeans on Trade Tensions
Gold Silver Reports (GSR) – China Shunning U.S. Soybeans on Trade Tensions — “Whatever they’re buying is non-U.S.,” Bunge Ltd. Chief Executive Officer Soren Schroder said in a telephone interview Wednesday. “They’re buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S.”
China’s Financial Opening Is No Gold Rush
Gold Silver Reports (GSR) – China’s Financial Opening Is No Gold Rush — This week, Beijing granted additional quotas for domestic funds to invest in overseas securities under the QDII plan, the first time it has done so in three years. At the same time, the government boosted permitted outbound institutional investment from Shanghai and Shenzhen. Meanwhile, Wall Street and other international banks are parsing draft rules on increasing stakes in securities joint ventures after China made good on a late 2017 pledge to ease restrictions.
Russia’s Wheat Crop Under Threat From Miserable Start to Spring
Gold Silver Reports (GSR) – Russia’s Wheat Crop Under Threat From Miserable Start to Spring – Cold weather in central areas and the Volga valley delayed the resumption of winter wheat growth by about two to three weeks compared with last year, according to the Institute for Agricultural Market Studies, or IKAR. Lingering snow has also given farmers in the world’s top exporter less time to sow spring crops, potentially leading to smaller-than-expected plantings.
U.S. Softens Stance on Rusal Sanctions; Aluminum Plunges
Gold Silver Reports (GSR) – U.S. Softens Stance on Rusal Sanctions; Aluminum Plunges – the first time, the U.S. Treasury discussed a path for lifting the sanctions on Rusal, saying it would provide relief if Oleg Deripaska relinquished control. It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months.
