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14/07/2015

COMMERZBANK: GREEK UNCERTAINTY MAY SUPPORT GOLD, SILVER
Commerzbank Looks For The Greek Debt Crisis To Support Gold Yet. Although Creditors Have Reached A Bailout Deal With Greece, Many Uncertainties Still Remain. Greece’s Parliament Still Needs To Agree To The Negotiated Deal, As Do A Number Of Parliaments In The Creditor Countries – By No Means A Foregone Conclusion In All Cases, The Bank Points Out. “Furthermore, There Is The Risk Of A Government Crisis In Greece Because Some Ministers And Many Members Of The Governing Coalition Are Refusing To Follow Prime Minister (Alexis) Tspiras’ Lead,” Commerzbank Says. Also, There Is Still Potential For “Chaos” Once Banks Reopen. The European Central Bank Continues To Maintain Its Emergency Loans For Greek Banks, But Will Decide At Short Notice In Each Case How Much Money Will Be Provided And For How Long. “It Is To Be Feared That The Capital Needs Of Greek Banks Will Rise Sharply When They Reopen,” Commerzbank Says. “All Of This Should Lend Support To Gold, Which Should Also Benefit Silver Even Though It Is Currently Suffering The Heaviest Losses Of All The Precious Metals."

14/07/2015

GOLD ETFS SHOW SIGNS OF STABILIZATION
Holdings In Global Gold Exchange-Traded Funds Are Showing Tentative Signs Of Stabilizing, As Flows Turned Positive Monday For The First Time Since June, UBS Says. Most Of The Buying Came From SPDR Gold Shares, The World’s Largest Gold ETF. The ETF’s Website Shows An Inflow Of 1.49 Metric Tons Of Gold On Monday. UBS Says Although The Total Flow Of 65,000 Ounces Globally “Is Not A Substantial Volume, It More Or Less Offsets The Net Outflow From Last Week.” So Far This Month, Gold Etfs Have Declined By A Total 114,000 Ounces, Continuing The Trend From May, UBS Reports. “Year To Date, ETF Positions Are Essentially Flat,” UBS Says. “We Continue To Expect Gold Etfs To Show A Modest Recovery This Year.”

13/07/2015

GOLD SLIPS WITH EURO AS US FED SIGNALS RATE HIKE
Gold Slipped On Monday, Tracking A Softer Euro As Signals That The US Federal Reserve Was Still On Track To Raise Interest Rates This Year Also Dragged On Prices.

13/07/2015

MULTI COMMODITY EXCHANGE'S ANNOUNCES FUTURES CONTRACT 'GOLD GLOBAL

Further expanding its bullion product suite, Multi Commodity Exchange of India Ltd. (MCX) on Monday announced the launch of its futures contract, Gold Global, subsequent to receiving permission from the Forward Markets Commission (FMC). This contract will be available for trade on MCX from tomorrow.

13/07/2015

MITSUBISHI: GOLD TO FOCUS ON IRAN TALKS, YELLEN TESTIMONY

Negotiations Over A Nuclear Deal With Iran And Federal Reserve Chair Janet Yellen’s Testimony Are Two Events That Could Move Gold In Either Direction This Week, Says Mitsubishi. The Firm Notes That Gold Prices Have Not Benefitted Much From Safe-Haven Buying In Recent Weeks Amid Concerns About Greece, As Many Investors Anticipated An Eventual Last-Minute Deal Of The Sort Reached Monday. Prices Also Failed To Respond Positively To The Chinese Equity-Market Crash. The Firm Says A Downside Factor For Gold Has Been Liquidations As Investors Sought To Raise Cash To Meet Margin Calls On Equity Losses. “Precious Metals Could Be Pulled In Either Direction This Week,” Mitsubishi Says. “A Potential Nuclear Deal With Iran Could See More Oil Released Onto The World Market – An Essentially Deflationary, Bearish Scenario For Gold And Its Sister Metals. On The Other Hand, Fed Chair Yellen’s Congressional Testimonies May Emphasise -- As Last Week’s June Minutes Did -- The Need For The Fomc (Federal Open Market Committee) To Wait Until There Is More Evidence Of Strengthening U.S. Economic Growth Before Rate Rises Are Begun; This Lower-For-Longer Stance Should Benefit Precious Metals.”

13/07/2015

BARCLAYS: SAFE-HAVEN BID HELPS GOLD FARE BETTER THAN MOST COMMODITIES

Gold Has Been Under Pressure In Recent Weeks But Has Held Up Better Than Other Metals And Commodities, With A Safe-Haven Bid Limiting Gold’s Downside, Barclays Says. “On The One Hand, Gold Has Failed To Shine As Uncertainty Over Greece Has Spiraled, And China’s Stock Market Has Endured A Sharp Correction,” The Bank Says. “But Similar To Extreme Risk Scenarios In The Past, Gold Has Held Its Value Relatively Well, Allowing Investors To Raise Cash To Meet Margin Calls Elsewhere And Tap Into The Liquidity That Gold Provides. Gold Has Tested Prices Below $1,150/Oz, Last Reached In March, Whereas Silver Has Tested November Lows, Palladium Has Tested June 2013 Lows And Platinum Has Tested February 2009 Lows.” Analysts Add That The Market Is Focused On The Timing And Likelihood Of A U.S. Rate Hike. “Our Economists Maintain Their September Call, But Have Lowered Their Conviction.”

13/07/2015

GOLD WEAKENS AS GREECE REACHES LONG-AWAITED BAILOUT AGREEMENT
Gold Prices Declined On Monday, After A Deal Over A Third Bailout Deal For Greece Was Reached After Marathon All-Night Talks Between European Leaders.

11/07/2015

MCX / SPOT SILVER TRADING LEVELS FOR THE WEEK

Trend: Down

S1 – 34,800 / $ 15.50 R1 - 36,400 / $ 16.00
S2 - 34,000 / $ 15.10 R2 - 37,100 / $ 16.40

Weekly Recommendation: Sell MCX Silver Sept between 36400 – 36500, SL- 37100, Target – 34800/34600

11/07/2015

MCX / SPOT GOLD TRADING LEVELS FOR THE WEEK

Trend: Down S1 – 25,700 / $ 1,146 R1 – 26,300 / $ 1,173
S2 - 25,300 / $ 1,128 R2 - 26,700 / $ 1,190

Weekly Recommendation: Sell MCX Gold Aug between 26300 – 26400, SL- 26700, Target – 25700/25600

11/07/2015

MORE DOWNSIDE IN PRECIOUS METALS: Experts View

The Precious-Metals Sector Is Enduring Losses For The Third Straight Week. The Gold Miners And Silver Have Led The Way Down, Though Silver Has Rallied Over The Past Two Sessions. Gold Has Also Rallied Yet Remains Dangerously Close To Making A New Weekly Low For The Bear Market. While The Metals Recovered Some Losses On Wednesday And Thursday, The Gold Miners Failed To Generate Anything Positive And Closed Near Their Lows For Each Session. The Inability Of The Miners To Recover To Even A Small Degree Augurs Badly For The Entire Sector In The Days Ahead.
Continued Weakness In The Miners Is Not Much Of A Surprise Considering They Are Breaking Down From Their 2008 And 2014 Lows

11/07/2015

Gold Futures Inched Down In Spite Of A Weaker Dollar, As Traders Digested Strong Indications From Janet Yellen That The Federal Reserve Will Raise Interest Rates This Year And Markets Throughout The Euro Zone Moved Broadly Higher Amid Optimism Of A Greek Deal.

11/07/2015

The Federal Reserve Chair Janet Yellen Said On Friday That She Expected The Fed To Raise Interest Rates At Some Point This Year, Underlying The Fact That Economic Outlook Remains Highly Uncertain.

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