Tag Archives: free gold silver tips

What will Greet Gold in H2, 2013: India Festival Demand or India Import Curbs?

8 Jul

While one cannot ascertain if gold imports by India would be met with added curbs, the Finance Ministry here is sure to lose sleep over the matter as festivities kick in and Rupee rout continues.

free gold trading tips

The second half of 2013 is marked by festivities in India and thereby enhanced gold demand. From Ramadan to Diwali to Dusserah to Dhanteras, Indians would go on a spiritual and materialistic binge bringing cheers to the markets and dating optimism.

But will that be the case this time around too as Current Account Deficit is still the Guerrilla in the room contributing substantially to Rupee weakness which has fallen to a record 60.22 against Dollar as of writing this. Will there be additional curbs on imports by India government?

A recent Reuters’ report quoting unidentified official suggests that this is unlikely as there are threats of enhanced smuggling activities in gold.

India recently hiked the import duty on gold to 8% and RBI too put in restrictions on import funding by banks.

These measures helped the gold imports by India to come down substantially as latest data say.

“Import of gold and silver is understood to have declined substantially to $2-2.5 billion in June, much below the $8.39 billion imported in May, and over $7 billion in April,” a senior government official said and was quoted by the Indian Express as saying.

June imports of Gold have dipped to a paltry 28 tons when compared to 162 tons in May. Data says that imports of gold to Gujarat, a major consuming centre, dipped to 3.73 tons in June against the 37.61 tons registered in May as per the air cargo complex data.

Trend seasonal

“The physical trend has always been very seasonal,” said Bernard Sin, the head of currency and metal trading at MKS (Switzerland) SA to Bloomberg on gold physical demand.

“Physical players are a different breed. They are always buying on the dip. Physical support will continue to be present and it will definitely trigger interest,” he added.

It has to be noted that while ETF demand has waned considerably, gold physical demand went up substantially in the past months.

While one cannot ascertain if gold imports by India would be met with added curbs, the Finance Ministry here is sure to lose sleep over the matter as festivities kick in and Rupee rout continues.

Share Tips Experts offers free advices for intraday trading which help traders to play well in commodity market, It also offers free gold silver tips! to get now visit : http://www.sharetipsexpert.com/Gold-trading-options.aspx

Silver shrinks to the lowest since 2010; follows Gold

20 May

Silver futures on Globex platform of Comex was seen trading down by 4.67% at $21.320 per troy ounce as of 10.10 AM IST on Monday.Speculation that US Federal Reserve may end its USD85 billion per month bond-buying program, might have influenced investors sentiments.

MUMBAI : Bullion futures in the international market are trading negative and silver prices fell to the lowest since 2010. Bullion prices shrunk to their lowest in four years as investment demand recorded a slump amid firm equities.

Silver futures on Globex platform of Comex was seen trading down by 4.67% at $21.320 per troy ounce as of 10.10 AM IST on Monday.

Comex gold futures are also down by 1.59% at $1343.05 per troy ounce as of 10.11 AM IST on Monday.

“Silver is trekking a similar path to gold,” Yang Xuejie, an analyst at Galaxy Futures Co., a unit of the brokerage controlled by China’s sovereign wealth fund said to Bloomberg.

“Investment demand is slowly falling and there are doubts about industrial demand, which is the primary driver.” he added.

Gold traders held 74,432 short contracts as of May 14, according to the US Commodities Futures Trading Commission.

Speculation that US Federal Reserve may end its USD85 billion per month bond-buying program, might have influenced investors sentiments.

Meanwhile, based on a simple regression analysis using data from 2003, Gold ETF outflows may cause downside risks of up to $75/oz in prices, Deutsche Bank has said in a report. If this turns out to be true, gold prices can touch $1282/oz from Friday levels of $1357/oz.

Deutsche Bank believes that the bulk of the drawdown in gold ETFs comes from institutional investors with, on Bank’s estimates, around two-thirds of the selling that is likely probably has already passed.

India bullion futures

Gold futures on India’s Multi Commodity Exchange (MCX) for June delivery was seen trading down by 1.39% at Rs.25477 per 10 grams as of 10.05 AM IST on Monday.

MCX silver futures for July delivery was also down by 4.09% at Rs.40885 per kilogram as of 10.05 AM IST on Monday.

Get free mcx gold silver tips to make good profit in commodity trading. With our accurate commodity tips traders can earn better profit in trading. To get free mcx gold silver tips visit us at http://www.sharetipsexpert.com