2014 July

Bullion Market Report As on 31st April 2014

Market Commentary METALS: August gold futures closed down $3.10 an ounce at $1,295.20 today. Prices closed nearer the session low today. Gold bears have the slight near-term technical advantage. A three-week-old downtrend line is in place on the daily bar chart. December silver futures closed up $0.021 at $20.665 today.

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"Escalating Tensions…..Escalating Prices"

In the past week gold and silver dropped drastically. Even the ongoing tensions in Russia and US could not provide support to gold. This week too gold fell 0.4 per cent though it recovered on the last day of the week. It is very difficult to list "a" particular reason

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Tajikistan's gold and foreign exchange reserves increase by 3% in H1 2014

Tajikistan's gold and foreign exchange reserves increased by 3% in the first half of the year, and amounted to $1.15 billion, according to the National Bank's Chairman, Abdudzhabor Shirinov. “We intend to increase the amount of gold and foreign reserves at least by 15% by the end of the year,”

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"Gold and Silver on A Swing"

Last year investors sent bullion tumbling by the most in three decades which they kept dumping the metal recently. But gold has once again become a valuable commodity. Demand for gold is increasing and prices are defying bearish forecasts. Gold has proved that the bearish sentiment in the market was

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London gold market closer to reforms

London’s gold market moved a step closer to reform of a century-old method of setting the price of gold, authorities said yesterday. London Gold Market Fixing Limited — comprising four banks that set the gold fix twice per day — announced in a statement that it has begun searching for

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Jewellery stocks down on fear of liquidity crunch

Jewellery stocks fell upto 6.5 per cent on Monday on profit booking amid fear of liquidity crunch into the sector due to withdrawal of gold deposit schemes. While the share price of Shree Ganesh Jewellery House fell by 6.53 per cent to close at Rs 32.90 apiece, that of Rajesh

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"Precious Metals…Indeed Precious!"

Ever since I have started my blog, you must have noticed that I first analyse the international markets and then the domestic markets. But since this week was an important and crucial week for gold as it was the new governments first budget since election, I would like to glance

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India surprises by keeping gold import duty at 10 percent

India surprised bullion markets by keeping the import duty on gold and silver unchanged at 10 percent in its fiscal budget, a move likely to limit overseas purchases by the second-biggest bullion consumer and further encourage smuggling.Indian gold futures jumped 2 percent on Thursday, widening the premium over global prices

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June gold imports at 12-month high

Gold imports surged in June to a 12-month high, at an estimate of 52 tons. This follows the Reserve Bank of India’s relaxation in May of import norms, when premium and star trading houses were allowed to import under the ‘80:20’ rule. Meanwhile, it also appears traders have been destocking

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Gold up on softer dollar; India budget eyed for import duty cut

Gold edged higher for a second straight session on Thursday, helped by a weaker dollar and as minutes of the Federal Reserve's recent policy meet gave no indication of an early hike in U.S. interest rates. Markets were also eyeing developments in the second-biggest consumer India, where the new government

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