Gold Silver Reports (GSR) – Gold (CME) Continues Its Slow Trading – The silver (CME) prices have been locked in a range for many months now. There was a period of few days when the prices did breach above the $17 mark but that move was met with some strong selling at that time and since then, we have seen the prices drop down below the $17 region which marks its re-entry back into the original range. This is set to continue for the short and medium term as well.
Gold Analysis
Iranians Go for Gold Amid Currency Turmoil, U.S. Tensions
Gold Silver Reports (GSR) – Iranians Go for Gold Amid Currency Turmoil, U.S. Tensions — Gold coin and bar demand in the Persian Gulf nation soared to 9.3 tons in the first quarter, a three-year high, on “investor concerns over worsening Iranian-U.S. relations and the prospect of currency controls,” the World Gold Council said Thursday in a report.
Spot Gold Critical Support @$1,300 Level
Gold Silver Reports (GSR) — Spot Gold Critical Support @$1,300 Level — While selling pressure has undoubtedly been a significant component of this recent decline, it is dollar strength that has been the predominant factor taking gold to its current pricing which is at a critical support level. This support level is crucial because of two technical indicators: Fibonacci retracement and the 200-day moving average.
Indian Gold Prices Steady, Silver Gains on Increased offtake
Gold Silver Reports (GSR) – Indian Gold prices steady at Rs32,200 per 10 gram in scattered deals on Tuesday even as it weakened overseas. On the other hand, silver prices rose by Rs200 to Rs40,500 per kg on the back of increased offtake by consuming industries.
Gold Prices Down to 6 Week Low on Firm Dollar ahead of US Fed Meet
Gold Silver Reports (GSR) – Gold prices fell to a six-week low on Tuesday as the dollar firmed near three-and-a-half month highs, with investors awaiting direction on US monetary policy from the US Federal Reserve.
Gold Prices Will Rally Further, Reaching $1,800 Per ounce from just Above $1300
Gold Silver Reports (GSR) – Gold Prices Will Rally Further, Reaching $1,800 Per ounce from just Above $1300 — Egyptian billionaire Naguib Sawiris said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.
Gold Jewelers in India are Expecting a Cool Reception in the Short Term
Gold Silver Reports (GSR) – Gold Jewelers in India are Expecting a Cool Reception in the Short Term — Joyalukkas Group has put an initial share sale of its jewelry business on hold and will revisit the proposal after national elections next year, Baby George, chief executive officer of the Kerala-based company, said in an interview Thursday. The fraud claims also have seen banks review funding for the gem and jewelry sector, he said. Gold jewelers in India are expecting a cool reception in the short term to any plans to publicly trade shares in the wake of an alleged $2 billion fraud by jewelers Nirav Modi and Mehul Choksi.