Gold Prices Decline, Silver Rates Slump Amid Muted Demand

Silver-Gold Prices Up on Global Cues, Silver Kiss Top Rs 41000

Gold Silver Reports (GSR) – Silver prices reclaimed the Rs41,000-mark by surging Rs250 per kg backed by increased offtake by industrial units and coin makers. Rising for the second straight day, gold prices edged higher by Rs10 to Rs31,870 per 10 grams at the bullion market today on persistent buying by local jewellers amid a firm trend overseas.

READ MORE…

MCX Crude Oil

Crude Oil Prices Up on Venezuelan Supply Troubles

Gold Silver Reports (GSR) – Brent crude futures LCOc1 were up 33 cents, or 0.4 percent, to $75.69 a barrel at 0101 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was up 38 cents, or 0.6 percent, at $65.11 a barrel. It ended the previous session 1.2 percent lower at $64.73 a barrel.

READ MORE…

India Gold Imports Are Said to Have Slumped for Fifth Month

Gold Silver Reports (GSR) – India Gold Imports Are Said to Have Slumped for Fifth Month — India’s gold imports shrank 39% in May, according to a person familiar with the information, the fifth month of decline as the world’s second-largest consumer enters a seasonally weak period for demand. Imports contracted to 77.6 tonnes from 126.2 tonnes a year earlier, the person said, asking not to be identified as the figures aren’t public. The purchases exceeded the 52.7 tonnes in April and are the highest so far this year.

READ MORE…

MCX Silver Above 39200 Level - Ultimate Target 41800— 42220

MCX Silver Short Covering Strong Support level @39440 Hint By Neal Bhai MFA Technical Analyst

Gold Silver Reports (GSR) – MCX Silver Short Covering Strong Support level @39440 Hint By Neal Bhai MFA Technical Analyst – The monthly decline in factory orders is likely to be temporary amid reports of strong manufacturing conditions in May. Investor morale in the euro zone deteriorated for the fifth month in a row in June to its lowest level since October 2016, hit by concerns about an anti-establishment government taking power in Italy and a trade dispute with the US. Key factors to watch today include China Caixin services purchasing managers’ index (PMI) in May, Eurozone retail sales in April and US ISM nonmanufacturing PMI in May.               

READ MORE…

Gold Spot Fails to Break Upside Hurdle $1308 Level

Gold Spot Fails to Break Upside Hurdle $1308 Level

Gold Silver Reports (GSR) – Gold Spot Fails to Break Upside Hurdle $1308 Level – Gold managed to temporarily break above trendline resistance, but with the inability to push above the $1307 mark, there is still a strong chance of near-term downside to build on the weakness seen over the past month.          

READ MORE…

MCX Silver Buy on Dips Expected Trading Zone 37333—38888, Goldman Neal Bhai Reports

Gold Silver Reports – MCX Silver Buy on Dips Expected Trading Zone 37333—38888 — Silver on MCX settled down -1.24% at 37963 as the dollar continued to advance amid a sharp uptick in Treasury yields. Much of the dollar’s advance stemmed from euro’s weakness in the wake of reports that the leader of Germany’s Social Democrats (SPD), Martin Schulz, would not be taking over as finance minister for Europe’s biggest economy .

READ MORE…