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Augmont Enterprises Pvt Ltd is a leading company in India which deals in bullion, specializing in bars and coins of various precious metals like Gold, Silver and Platinum. Being a company which facilitates investment in precious metals, RSBL endeavors to combine our technical and market experience with hard work and dedication to provide our clients the ability to make informed investment decisions. Founded in 1994, RSBL is proud of holding the largest variety of bullions and coins across India. Our commitment to excellence in customer service is evident in all facets of our business. RSBL's success is based on customer trust and respect backed by our highly valued staff and best quality products with most modern trading mechanisms. RSBL's dedication to continuous improvements enables us to meet the exacting requirements of our customers. This bond of trust has helped RSBL attain significant feats.

News and Updates

Gold / Silver futures - weekly outlook: September 19 – 23
Bullion News : RSBL : Sept 19, 2016

Gold prices slumped to a more than two-week low on Friday, as a broadly stronger U.S. dollar and jitters ahead of next week's highly anticipated Federal Reserve policy meeting weighed

Gold for December delivery on the Comex division of the New York Mercantile Exchange sank to a daily low of $1,309.20 a troy ounce, a level not seen since September 1. It ended at $1,310.20 by close of trade on Friday, down $7.80, or 0.59%.

For the week, the yellow metal ended with a loss of $21.20, or 1.83%, as markets continued to speculate over the timing of the next Fed rate hike.

The greenback jumped on Friday after data showing faster-than-expected growth in U.S. consumer prices helped support the case for a Fed rate hike later this year.

The Labor Department said the consumer price index rose 0.2% in August, compared to expectations for a 0.1% gain. Year-over-year, consumer prices increased 1.1%. Excluding the volatile food and energy categories, so-called core consumer prices climbed 0.3%. The core CPI increased 2.3% in the 12 months through August.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, touched a daily peak of 96.11 in wake of the inflation data, the most since September 1, before ending at 96.06, up almost 0.9% on the day.

A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Market participants were now eyeing the Fed's policy meeting on September 20-21 amid ongoing uncertainty over a potential rate hike.

Investors are currently pricing in just a 12% chance of a rate hike next week, according to Investing.com's Fed Rate Monitor Tool. For December, odds stood at around 55%.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it is priced.

Also on the Comex, silver futures for December delivery dropped 17.9 cents, or 0.94%, on Friday to settle at $18.86 a troy ounce. The contract fell to $18.71 earlier, the lowest level since September 1. On the week, silver lost 34.3 cents, or 2.61%.

Monday, September 19
Financial markets in Japan will be closed for a national holiday.

Tuesday, September 20
The Reserve Bank of Australia is to publish the minutes of its latest monetary policy meeting, giving investors insight into how officials view the economy and their policy options.

The U.S. is to report on building permits and housing starts.

Bank of Canada Governor Stephen Poloz is to speak at an event in Quebec.

Wednesday, September 21
The Bank of Japan is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.

Later in the day, the Federal Reserve is to announce its monetary policy decision and publish data on its economic projections for the coming two years.

Thursday, September 22
The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish its rate statement.

Financial markets in Japan will be closed for a national holiday.

The U.S. is to release data on initial jobless claims and existing home sales.

European Central Bank President Mario Draghi is to speak at an event in Frankfurt.

Friday, September 23
The euro zone is to release data on private sector activity. Canada is to round up the week with data on retail sales and inflation.

Source: http://www.bullionindia.in

Gold demand remains muted; discounts narrow
Bullion News : RSBL : Sept 17, 2016

Demand for gold in India remained lacklustre this week as higher prices hampered consumer purchases, but discounts narrowed due to a correction in overseas rates. The safe-haven bullion has fallen over one per cent this week despite a mixed bag of US economic data ahead of next week's US Federal Reserve policy meeting

In India, the world's second-biggest gold consumer, discounts on official domestic prices came down this week to $20 an ounce, from last week's $32. "Some customers are replacing old jewellery for new, but fresh demand is still weak," said Kumar Jain, vice-president, Mumbai Jewellers Association.

In the past few months, demand in India has remained sluggish due to higher prices and as droughts hit purchases in some rural areas. India's gold imports in August plunged 77.5 per cent from a year earlier to $1.12 billion.

Gold prices in India are trading around RS.30,865 per 10 grams on Friday, after it fell 1.6 per cent in the previous eight sessions.

"People are waiting for a correction. By this month-end, retail demand is likely to improve," Jain said.

Demand for gold is expected to strengthen in the final quarter as India gears up for the wedding season as well as festivals such as Diwali and Dussehra, when buying the precious metal is considered auspicious.

"Jewellers are slowly building inventory for festive season. Some jewellers are postponing purchases, hoping prices will fall below $1,300 (per ounce)," said a Mumbai-based bank dealer. Buyers in China and Hong Kong stayed away from the market as a mid-Autumn Festival holiday shuttered trade on Thursday and Friday. In Singapore, premiums rose about 80 cents from 50-60 cents last week.

"With prices going down we hope that some demand will emerge.
We have started seeing some queries and movement in the metal, but these are early days," a Singapore-based metals trader said. The Tokyo market, too, remained quiet as public interest was very limited this week, keeping the premium at zero, traders said.

Source: http://www.bullionbulletin.in

Augmont Enterprises Pvt Ltd Honoured with "Best Gold Bullion Dealer of the Year 2015-16" Award by India International Gold Convention - 2016
Bullion News : RSBL : Sept 15, 2016

Augmont Enterprises Pvt Ltd. (RSBL) was honoured with prestigious "Best Gold Bullion Dealer of the Year 2015-16" Award, by India International Gold Convention - 2016 in a glittering event held at Jaypee Palace, Agra recently. The award was received by Mr. Prithviraj Kothari, MD- Augmont Enterprises Pvt Ltd. Along with the same he was awarded with a memento of being a distinguished speaker at the event

Augmont Enterprises Pvt Ltd is a leading company in India which deals in bullion, specializing in bars and coins of various precious metals like Gold, Silver and Platinum. RSBL is in the top 10 unlisted public companies in India in terms of sales turnover as per BS1000. RSBL has developed easy, reliable and user friendly systems & products for one and all to purchase Gold, Silver, platinum, they are RSBL Spot, RSBL eCoins, Bullion++, Bullion India, RSBL Coins, RSBL Dia Jewels and so on.

Mr. Prithviraj Saremal Kothari is a renowned name in the gold, silver and platinum bullion industry. He has been instrumental in the development of the bullion market in India and making it more organized. He has been the pioneer in introducing "Instant International transparent benchmark Price based INR Denominated Bullion Trading in India". Currently serving as a Vice president – National at IBJA (Indian Bullion and Jewellers Association), he has been contributing immensely to its growth. He has played a vital role on gold ETFs in India. Under his vision, RSBL has successfully launched India's first and only electronic over the counter bullion trading system – RSBL Spot. He has been felicitated with the prestigious Jain Ratna award twice.

Scrap jewellery sales decline by 50-60% in one month
Bullion News : RSBL : Sept 14, 2016

Scrap jewellery sales declined by 50-60% in the last one month as consumers held the stock on expectations of higher realisation in the upcoming festive season when physical demand sets in

Normally, farmers sell their extra holding of gold jewellery with the onset of the monsoon rainfalls to buy seeds and fertilisers. Consequently, scrap jewellery sales increase in June and July. Jewellery sales continue in September as well, in case forecast of monsoon rainfalls is deficient. Scrap jewellery sales also move up in case gold price continues its bullish trend.

This year, however, none of the aforementioned factors favoured scrap jewellery sales. While the Indian Meteorological Department (IMD) forecast for a surplus rainfalls this monsoon season, gold price fluctuated in a wide range with upward bias.

"Need based selling of scrap jewellery is over. Common consumers do not trade in jewellery and hence, they purchase with surplus fund and sell in case of its need. Therefore, scrap jewellery sales have come down sharply more than half in the last two-three weeks," said Prithviraj Kothari, Managing Director, Augmont Enterprises Pvt Ltd, a city –based bullion dealer and retailer.

Data compiled by the World Gold Council (WGC) showed gold collection through recycling of scrap jewellery at 23.60 tonnes in June quarter, the highest in four quarters. The same, however, is expected to remain lower in September quarter. Recycling of old jewellery meets nearly 10% of India's annual gold demand between 850-950 tonnes.

The sale of used jewellery is also expected to remain lower on surplus rainfalls this monsoon season. While the IMD has reported nearly 5% deficient rainfalls this season largely due to paucity of showers after last week of August, experts hope for better kharif output this year than last year.

"Scrap jewellery sales have slumped drastically in the last few weeks as saleable quantity exhausted with consumers. They do not have unlimited quantity of jewellery for sale. So, whatever consumers needed to sell either for price benefit or need-based encashment, consumers' selling quantity is over. Now, buying time has started. So, in the ensuing festival season will see a huge upsurge in gold sales," said Rajesh Mehta, Managing Director, Rajesh Exports who operates over 70 retail stores across the country.

The festive season started with the Raksha Bandhan and the Ganapati festival is now almost over. After a fortnight the festivities would resume with Durga Pooja and the Diwali.

"Overall, consumer demand of gold jewellery is likely to remain better in festive season this year," said Mehul Choksi, Managing Director, Gitanjali Gems, the promoter of leading jewellery brands like Nakshatra, Asmi, Gili etc.

In fact, jewellers have started preparations with innovative designs of ornaments for the current festival season as reflected in rising gold import last month.

Kothari, however, believes that gold price movement would determine jewellery demand. Gold price was hovering around Rs 30,000 per 10 grams in June, has now risen to trade at Rs 31,100 per 10 grams with discount prevailing at $20 an oz equivalent to Rs 400 per 10 grams.

Gold recovery through scrap jewellery
Quarter ended Quantity (tonnes)
Jun '13 10
Sept '13 53
Dec '13 17
Mar '14 30
Jun '14 22.5
Sept '14 17.5
Dec '14 22.5
Mar '15 18
Jun '15 24
Sept '15 18.2
Dec '15 20
Mar '16 14
Jun '16 23.6
Source : GFMS, Thomson Reuters, World Gold Council

Source : http://www.business-standard.com/article/markets/scrap-jewellery-sales-decline-by-50-60-in-one-month-116091300627_1.html

Precious metals resume rally in Sept after Brexit lag
Bullion News : RSBL : Sept 14, 2016

After a brief consolidation in August, precious metals have resumed their movement northwards. After the Brexit, bullion is once again following the US rate hike speculations in the market. This time, the speculations are favourable for precious metals

Gold prices are up 25 per cent and silver 40 per cent from the beginning of the year. Gold prices had closed the last calendar year at $1,061 an ounce in the international spot market and moved up twice above $1,350 per ounce levels--- first time when the Brexit referendum results came out in June and last week when the market ruled out chances of a September rate hike by the US Federal Reserve. Silver is still trading around its yearly high levels, moving up from $13.83 per ounce at the beginning of the year.

"The calendar year started off with the sell-off in the equity markets. The slowdown in China and the US kept the financial markets worrying. Speculations about a rate hike have been dragging down gold and silver prices in 2015 and after the first rate hike, these speculations were put to rest. In 2016, the speculators were busy worrying about whether the US will go ahead with the four rate hikes it had mentioned last year," said Himanshu Gupta, senior research analyst, Karvy Comtrade. The investments in gold exchange traded funds too were significantly going up since the beginning of the year.

These factors kept the precious metal counter busy in the initial months. Gold prices moved up to Rs 31,000 in February, corrected to Rs 28,500 and then rebounded to Rs 30,000 in March and once again fell to Rs 28,700. By then, the chances of Britain exiting the European Union started increasing the investor interest in safe haven assets like gold.

On June 23, gold touched a yearly high of $1,358.80 when Britain decided to exit the European Union. The metal prices jumped eight per cent during intra-day trade, up more than $100 in a day. In the Indian futures market, gold had risen from Rs 24,931 per 10 gm to Rs 31,925. In the Multi Commodity Exchange gold gained Rs 2,000 per 10 gm. Silver, which is generally more volatile than gold, however, moved up only six per cent in the international market then and 4.2 per cent on MCX.

Post-Brexit, the global economic worries have escalated. There are worries about Britain going into an economic slowdown and the European economy remaining in the slump. The Brexit has also made the US rethink about the interest rate hike.

While the fundamentals are still in favour of precious metals, gold saw some profit-booking to slip from its multi-year highs. But silver has been continuing its bull run even after the Brexit, as it was supported by the strength in base metals.

In August gold prices were seen consolidating and trading in a range of $70 between $1,368 and $1,305. Rate hike uncertainty in the US and strengthening of the dollar index and host of good economic data sets from the US were the main factors that led to the consolidation in the metal, said Prathamesh Mallya, chief manager-non-agri commodities and currencies, Angel Commodities.

US consumer confidence had risen to an 11-month high in August and the consumer confidence index increased 4.4 points in August, the highest reading since September 2015.

However, by September things started changing. In the first week of September, bullion made its fastest rally after the Brexit. Spot gold gained 1.77 per cent, or $23 per ounce, to touch a three-week high of $1,353 last week, while silver gained 2.75 per cent after economic activity data from the US Institute for Supply Management fell to its lowest level since February 2010.

"The market has been speculating on how the US Federal Reserve has been moving away from a rate hike in September. The labour market data on Friday too was below expectations. The latest data pulled the dollar index down in favour of gold. The market is almost sure that a September rate hike is off the radar now," said Gupta. In a week's time gold was up around $50 due to the release of weaker-than-expected payroll data.

In the MCX, gold moved up to a 30-month high level of Rs 31,400 from Rs 30,600 in a few sessions last week. Similarly, silver moved up to Rs 47,700 in the MCX from Rs 44,500.

"After the Brexit, we have seen some consolidation in the market. While the market will be cautious around the Sept­ember meeting, prices look bullish in the near to medium term. Gold price is likely to move up to $1,450 levels in the international market and Rs 33,500 in the domestic market before the end of the calendar year. Silver can move up to $23 and Rs 54,000 around that time," said Gupta.

sangeethag@mydigitalfc.com

Source : http://www.mydigitalfc.com/

Africa's Fastest Growing Gold Producer Says More to Come
Bullion News : RSBL : Sept 12, 2016

Burkina Faso said it has more gold waiting to be discovered as the nation where output jumped more than 20 times in a decade reviews its geological records. The government wants to help companies that are already operating in the West African nation to lengthen the lives of their mines and make it easier for new investors to get information about deposits, Mining Minister Alfa Omar Dissa said last week in an interview in the capital, Ouagadougou

We've reviewed the eastern region, the west and the south and we found some very interesting information," he said. Deposits previously unknown include "gold, lithium, nickel and a bit of uranium, even traces of oil," he said.

The country has seen a gold rush in recent years because of the high grades found in some deposits, which hold as much as 17 grams (0.56 ounce) per metric ton, compared with the global average of 1.5 grams, Dissa said. Output in the landlocked nation is forecast to reach almost 49 tons of gold this year, from 2.3 tons in 2007, with Canadian companies Iamgold Corp. and Semafo Inc. among the biggest producers. Reaching the forecast will make it the continent's biggest-producing country behind South Africa, Ghana and Mali.

Shovels, Hoes
The expansion of gold mining and the start of production at what may be one of the world's largest manganese mines will push Burkina Faso's economic growth to an average of 6 percent from 2017 to 2019, the International Monetary Fund said in a June report. The country's economy measured $11.1 billion in 2015 and per-capita income was $613, according to the World Bank.

Gold, which has surged 24 percent this year, is now the most valuable export, accounting for almost 80 percent of income.

The country has geological rock formations similar to those in Mali and Ghana, which have well-established mining industries. Unlike its neighbors, industrial mining was non-existent until 2007 after the only gold mine closed in 1998 due to low prices and management problems, according to the U.S. Geological Survey. All mining was done with shovels and hoes by artisanal miners, who today number an estimated 400,000. They are mainly young men.

They're are often found encroaching on industrial sites, and dangerous practices such using chemicals such as mercury to extract gold and digging unsafe tunnels are going to be curtailed, Dissa said. Dozens of people die every year as tunnels collapse even though the government prohibits small-scale mining during the rainy season from May to October.

Electricity Shortage
"We really need to organize the artisanal sector because the small-scale miners are intruding upon the big mines," he said. "We are completing a survey to count them and we're going to encourage them to work in cooperatives."

The surge in gold mining has exacerbated an electricity shortage, causing regular power cuts in the two main cities, Ouagadougou and Bobo-Dioulasso. The government is building seven solar power plants that will together yield 127 megawatts, Dissa said. It also wants to build a 100-megawatt thermal power plant but is still searching for investors, he said.
Source : Bullion India

Gold Bonds: 4th tranche collection at new high; Modi Govt plans more tranches in FY17
Bullion News : RSBL : Aug 1, 2016

A slew of investor-friendly measures saw the fourth tranche of the Sovereign Gold Bond (SGB) scheme getting a good response, with collection reaching Rs. 919 crore representing 2,950 kg gold. The government said it would come up with more such tranches this year

The number of applications stood at 1.95 lakh for the fourth tranche that opened on July 18 and closed on July 22. The numbers could go up since the collection centres are yet to send the complete details. "These numbers are likely to go up further as the receiving offices are keying in the information of huge rush of applications received on the last day," the government said in statement.

The previous high was Rs. 746 crore in the second tranche when the issue price was fixed at Rs. 2,600 per gm of gold. The price per gm of gold was fixed at Rs.3,119 by the Reserve Bank of India (RBI) based on the basis of simple average of closing price of gold of 999 purity for the week July 11 to 15, 2016 as published by the India Bullion and Jewellers Association Ltd. (IBJA). The interest rate was fixed at 2.75 percent per annum.

The success of the SGB scheme — launched last November — was attributed to additional features to make it more attractive to investors.

The minimum subscription limit was reduced from 2 gm to 1 gm. The capitals gain tax arising on redemption of SGB to an individual was exempted, in line with the Budget 2016-17 announcement and extended to the last 3 tranches too. The applications were allowed to be routed online and SGB was issued in demat/ paper form. National Stock Exchange and Bombay Stock Exchange were notified as additional receiving offices. Trading of Gold Bonds was also operationalised," the government said.

The response has encouraged the BJP-led NDA government to roll out more such offers to investors this fiscal. "Seeing the investors' response, the Government will come up with more tranches in 2016-17," the finance ministry statement said.

Prime Minister Narendra Modi had launched the SGS scheme along with two others — Gold Monetization Scheme and India Gold Coins — on Nov. 5 last year. The schemes were launched to unlock about 20,000 tons of the yellow metal held by households and institutions and put them to good use, besides discouraging investors from buying physical gold.

Source: http://www.ibtimes.co.in/

Gold slips as investors await central bank decisions
Bullion News : RSBL : July 27, 2016

Gold extended losses on Monday from the previous session as Asian stocks were at near nine-month highs on increasing risk appetite and ahead of central bank meetings in the United States and Japan this week

Asian shares rose on Monday as worries over the impact of Britain's Brexit vote eased amid efforts to maintain growth, while the dollar was buoyed by a run of solid U.S. economic data.

Spot gold fell 0.4 percent at $1,317.04 an ounce at 0352 GMT. Bullion fell 0.7 percent on Friday, declining for a second successive week. U.S. gold was down 0.5 percent at $1,316.80 an ounce.

"We could see some falling of gold prices with markets thinking things are not as bad as expected post-Brexit and the good performance of key U.S. economic indicators," said Jiang Shu, chief analyst at Shandong Gold Group.

The Bank of Japan and the U.S. Federal Reserve will likely come up with some fairly positive comment on the economic performance, along with other central banks, to cool down the pessimistic emotions of global financial market, Shu said.

Central banks from Washington to Tokyo take centre stage this week, although policymakers are likely to remain cautious as they wait for the dust to settle from Britain's shock vote to leave the EU.

Spot gold may break support at $1,313 per ounce and fall to the next support $1,298, as its bounce from a July 21 low of $1,310.56 may have ended, Reuters technical analyst Wang Tao said.

"We see tentative trade this week within the precious complex with both the BOJ and Fed meeting," MKS Group trader Sam Laughlin said in a note.

"Price action will likely be skewed to the downside and we expect to test the post-Brexit low around $1,305 and below this $1,300 should global equities continue their upward trajectory."

Hedge funds and money managers continued to pile on bullish silver bets in the week to July, data showed on Friday.

Among other precious metals, silver, which fell about 3 percent last week, was down 0.7 percent to $19.46.

Palladium, which touched a fresh near-nine month high on Friday, was down one percent to $673.50. It registered its fifth weekly gain last week, after rising 5 percent for the week.

Platinum was down 0.7 percent $1,069.05 an ounce.

(Reporting By Nallur Sethuraman and Vijaykumar Vedala in Bengaluru; Editing by Michael Perry)
Source: Reuters

Hedge Funds Finally Say No to Gold as U.S. Shares Smoke Records
Bullion News : RSBL : July 18, 2016

Investors judging the world economic outlook as a bit more stable are taking some of the shine off gold. Hedge funds and other speculators cut their wagers on a rally for the metal for the first time in six weeks, scaling back from an all-time high position in the prior week

Investors judging the world economic outlook as a bit more stable are taking some of the shine off gold.

Gold's Ups and Downs

Hedge funds and other speculators cut their wagers on a rally for the metal for the first time in six weeks, scaling back from an all-time high position in the prior week. Holdings in exchange-traded funds backed by bullion posted the first weekly loss since the end of May as prices in New York did the same.

The interest in gold has dissipated after the metal zoomed to a two-year high earlier this month amid concerns that the U.K.'s decision to leave the European Union would spark malaise for the global economy. Since then, the tumult over the Brexit vote has died down as policy makers signal they will take steps to limit the fallout. The U.S. economy has stayed strong and investors have pushed the S&P 500 Index of equities to all-time highs, curbing the need for precious metals as a refuge.

"Gold can take a step back and not have to perform the particular role as a safe haven," said Frances Hudson, an Edinburgh-based global thematic strategist at Standard Life Investments, which oversees $373.3 billion. "Maybe equities are coming from a long way back and this is a chance for a rally, at least in the short term. That keeps gold in reserve, because the world isn't falling off a cliff immediately."

>Wagers Drop

The net-long position in gold futures and options fell 5.4 percent to 271,529 contracts in the week ended July 12, according to Commodity Futures Trading Commission data released three days later. A week earlier, the holdings were 286,921, the highest in data going back to 2006.

Futures traded in New York fell 2.3 percent last week to $1,327.40 an ounce, snapping six straight gains, and were at $1,329 on Monday. The metal has lost 3.5 percent since reaching the highest in more than two years on July 6. The rally ran out of steam as global central bankers, including in England and Japan, said they will take steps to limit the economic impact from the U.K.'s June 23 vote to leave the EU.

At the same time, gains for U.S. retail sales and industrial production are reflecting the resilience of the American economy and driving gains for the dollar. The outlook for growth also prompted traders to boost the chances of a U.S. interest-rate increase by December to 44 percent, up from 12 percent at the start of the month. Higher rates reduce the appeal of gold, which doesn't pay interest or offer dividends like assets such as bonds or equities.

Global holdings in bullion ETPs dropped by 5.3 metric tons last week to 2,001 tons, data compiled by Bloomberg show. That was the biggest decline since April 22. Metal held in the No. 1 product, SPDR Gold Shares, tumbled by 1.9 percent, the most since early December.

Trend Reversal

The negative sentiment for gold is a reversal from the adoration investors have felt for most of the year. Funds have been betting on price gains since they turned net-long on the metal in January, and the position surged 84 percent in the five weeks through July 5, CFTC data show. Prices are still up 25 percent this year in New York. Silver, which often has outsized moves among precious metals, has jumped 46 percent, the most among the 22 components of the Bloomberg Commodity Index.

While hedge funds are taking a break from the metal, U.S. retail investors are still betting that geopolitical risks mean bullion's luster hasn't yet dulled. Through last week, U.S. Mint sales of gold coins in 2016 totaled more than 500,000 ounces, double the amount sold at this time a year earlier. The metal rose in after-hours trading in New York on Friday amid a coup attempt against Turkish President Recep Tayyip Erdogan.

The U.S. election cycle could also stoke price gains as the "political debate heats up," Francisco Blanch, the head of commodities research at Bank of America Merrill Lynch, said in an interview with Bloomberg Television Canada last week. Prices could reach $1,500 in the next six to 12 months, he said, also citing the prospect of low long-term interest rates.

"The retail side of this trade could continue, which would be the positive for gold," said Rob Haworth, a senior investment strategist in Seattle at U.S. Bank Wealth Management, which oversees $133 billion. "If I look year-end towards other factors, even as you unwind safe-haven trades, stocks are up and everyone is feeling good. You'll probably see a bias towards dollar strength for the rest of the year, and that doesn't benefit gold."

Source: Joe Deaux (Bloomberg.com)

Gold inches up, silver passes $20 threshold at near 2 year highs
Bullion News : RSBL : July 4, 2016

Gold prices edged higher early on Monday to extend 1.5-percent gains from the previous session, while silver breached the $20-dollar level for the first time in nearly two years as Asian stocks fell

Spot gold was up 0.2 percent at $1,344.09 an ounce by 0115 GMT. It rose 1.5 percent on Friday, after ending June up about 9 percent.

U.S. gold was up 0.7 percent at $1,347.80. Silver breached the $20 an ounce level early Monday, hitting a session-high of $20.378, its strongest since August 2014. The white metal gained 11.6 percent last week to mark its best weekly gain since August 2013.

Asian share markets took a step back on Monday as investors took stock of the potential economic fallout from the Brexit vote after days of volatile trade, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent in early trading.

The dollar index up, which measures the greenback against a basket of currencies, was nearly flat, but it remained pressured by a fall in U.S. Treasury yields on Friday. U.S. factory activity expanded at a healthy pace in June as new orders, output and exports rose, new industry data showed on Friday, providing another sign that U.S. economic growth was regaining its footing after weakness early this year.

The U.S. economy has shown signs of improvement in recent weeks but the Federal Reserve expects it will take some time before it can assess the impact of Britain's vote to leave the European Union, Fed Vice Chair Stanley Fischer said on Friday. Two of the European Central Bank's top policymakers pressed Britain on Friday to provide a clear-cut plan for leaving the European Union, to prevent more economic damage.

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.41 percent to 953.91 tons on Friday, the highest since July 2013. Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts to record highs in the week to June 28.

Gold demand in Asia remained sluggish this week as higher prices continued to deter physical traders from making fresh purchases, with discounts in India widening to a record high.

Source: http://economictimes.indiatimes.com/

Gold prices climb 1 per cent, investors seek safe-haven after 'Brexit' vote
Bullion News : RSBL : june 28, 2016

Spot gold prices climbed more than 1 per cent on Monday as aftershocks from Britain's vote to leave the European Union pushed investors towards the safe-haven asset.

Britain plunged deeper into political crisis on Sunday after its vote last Thursday, leaving EU and world officials confused about what to do next.

British Finance Minister George Osborne, who had warned during the campaign that a "Brexit" would cause financial market volatility, scheduled a statement for 7 a.m. (0600 GMT) on Monday to provide reassurance about "financial and economic stability". Spot gold had risen 1.35 per cent to $1,332.8 an ounce by 2306 GMT, after prices in the previous session surged by 4.8 per cent to top out at $1,358.20 – the highest since March 2014.

US gold rose 1 per cent to $1,336 an ounce.

In wider markets, US stock futures dipped and the British pound fell more than 1 per cent in early Asian trade on Monday, as markets struggled to shake off a swathe of uncertainty sparked by Britain's decision on the EU.