Gold Silver Reports (GSR) – Gold prices rose on Monday as the dollar eased amid renewed concerns over a trade war after China imposed additional tariffs on US products in response to US duties on imports of aluminium and steel.
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Gold Prices Plunge by Rs 460 on Weak Global Cues, Fall in Demand
Gold Silver Reports – Gold Prices Plunge by Rs 460 on Weak Global Cues, Fall in Demand — Gold prices tumbled by Rs460 to Rs31,390 per 10 grams at the bullion market on Wednesday, snapping their four-day rising streak due to subdued global cues amid slump in local jewellers’ demand. Silver also fell by Rs250 to Rs39,300 per kg owing to reduced offtake by industrial units and coin makers.
Gold Prices to Soar on Tax Reforms & Inflation Fuels
Gold Silver Reports – Gold Prices to Soar on Tax Reforms & Inflation Fuels — The Federal Reserve raised rates for the third time in 2017 following the Federal Open Market Committee (FOMC) meeting on 12 December. Since 2015, gold has established a year-end pattern where it becomes oversold ahead of the December Fed rate decision.
MCX Silver Support Level 38353, Buy on Dips Target 39444—40125
Gold Silver Reports – MCX Silver Support Level 38353, Buy on Dips Target 39444—40125 — Technically Silver market is under long liquidation as market has witnessed drop in open interest by 0.27% to settled at 18729 while prices down 98 rupees.
India’s Gold Demand up 9% to 727 Tonnes in 2017, says WGC Report
Gold Silver Reports – India’s gold demand grew by 9.1% to 727 tonnes in 2017 due to low prices coinciding with Dhanteras, positive economic backdrop and improved consumer sentiment especially in rural areas, according to a World Gold Council (WGC) report.