Posts Tagged: GOLD

Gold rush in Japan as tax rise looms

28 March 2014 - 10:45 am

A landmark increase in Japan’s sales tax has led to a rush for small gold bars as retail investors pile into the precious metal to avoid next week’s rate rise.

Tanaka Kikinzoku Jewelry, a precious metals specialist, reported that sales of gold ingots across seven of its shops are up more than 500 per cent this month, as customers rush to take advantage of the current 5 per cent rate of consumption tax before it rises to 8 per cent on 1 April.

At the company’s flagship store in Ginza on Thursday, people queued for up to three hours to buy 500g bars worth about Y2.3m ($22,500). March has been the busiest month in Tanaka’s 120-year history.

Prime Minister Shinzo Abe has embarked on a series of radical reforms dubbed Abenomics in an attempt to weaken the yen and boost the ailing Japanese economy, prompting investors to buy gold as a hedge against the spectre of higher inflation.

Investors are being drawn to the metal not just because of higher taxes, said Itsuo Toshima, an adviser to pension funds.“Slowly and steadily, people are preparing for the worst, which is the failure of Abenomics.” >> Read More


Russia Raises Gold Holdings By 7.247 Tonnes To Over 1,040 Tonnes In February

Russia has increased its gold holdings by 7.247 tonnes to 1,042 tonnes in February. Turkey and Kazakhstan also raised their bullion reserves, data from the International Monetary Fund showed today.

Turkey’s gold holdings rose 9.292 tonnes to 497.869 tonnes, the data showed.

Many analysts are ignoring the important context of today’s new geopolitical backdrop. Russia alone has some $400 billion in foreign exchange reserves – mostly in U.S. dollars. If they were to diversify just 5%, worth some $20 billion, of those reserves into gold – it would be equal to nearly 500 tonnes of gold or nearly 25% of global annual production.

>> Read More


 Gold rallied from the lowest price in more than four weeks on safe haven demand after the G7 nations threatened more sanctions against Russia after the annexation of Crimea.

Meeting for the first time since last week’s annexation of Crimea by Russia, G7 leaders said they won’t attend a G8 meeting that had been set for Sochi, on Russia’s Black Sea coast, and will instead hold their own summit in June in Brussels. The G7 said in a statement that they remain ready to “intensify actions”, including coordinated sectoral sanctions.

Trading volumes on the COMEX in New York today are 49% higher than the average for the past 100 days for this time of day, according to data compiled by Bloomberg.

Palladium fell 1% to $786.20 an ounce. The precious metal rose above $800/oz yesterday, the highest  since August 2011, on concern that supplies from top producer Russia will be disrupted.

The Central Bank of Iraq said it bought 36 tons of gold this month to help stabilise the Iraqi dinar against foreign currencies, according to a statement from the bank that was emailed this morning.

It is very large in tonnage terms and Iraq’s purchases this month alone surpasses the entire demand of many large industrial nations in all of 2013. It surpasses the entire demand of large countries such as France, Taiwan, South Korea, Malaysia, Singapore, Italy, Japan, the UK, Brazil and Mexico. Indeed, it is just below the entire gold demand of voracious Hong Kong for all of 2013 according to GFMS data (see chart).

  >> Read More


Indian government has imposed a duty of ~11.3% on gold imports. Additionally, they have created bureaucratic complexities, including a requirement from gold importers to export 20% of their imports. The government claims that this has resulted in a serious drop in imports, something they wanted, given consistently high, unsustainable current-account deficits.

As I write this, international spot price of gold is $1,300 per ounce. In India, however, it is trading at a premium of 18%, at a price of $1,534. One might ask who is pocketing this premium. Has import really come to a stand-still? Let me explain the ground realities.

Recently, I arrived in the Indian city of Chennai from Singapore. My bag was missing, which had nothing of commercial value—just my clothes. The airline had me fill out a missing-bag form. When I went to a custom official to get the document signed, he asked me to pay a custom duty on the claimed value of my clothes. He didn’t want to understand that the fact that my bag did not arrive made no difference to whether they were dutiable or not.

Every Indian public servant I have ever met creates a situation to ask for a bribe. The result is that there are all sorts of leakages in any regulatory enforcement. Indeed, most regulations exist for the sole purpose of creating justifications for them to ask for bribes.

Before the 90s, import of gold was heavily regulated and carried massive custom duty. Of course, those days most gold arrived in India through smuggling. A big mafia had built up in Mumbai and Dubai, mostly catering to India’s gold demand. Two things happened as a result: Government lost all prospects of earning revenue from gold imports, and most importantly, smugglers ran a ruthless empire in several Indian cities, particularly in Mumbai, controlling human-trafficking (with horrible consequences for poor girls and children), and financing the real-estate and the film industries. They were the unofficial rulers of Mumbai. When restrictions on gold were eased in early 90s under pressure from IMF, the same smugglers took the shape of what got to be known as terrorists. (All this should not sound strange to those who understand the history of prohibition in the US). >> Read More



On 26th Feb ,Written :Gold Spot will zoom to kissssssssssssssssssssssssssssss  $ 1362-1373 level.

Now made High of $ 1374.50 level.

Now -What to expect

Now ,We Revise our TARGET & MAJOR HURDLE to $ 1387 level.

Three Consecutive close above 1387+Weekly close will take to  $ 1434-1450 level.

30th Week……………..Will see Unexpected level in GOLD !

More Details to our MCX Subscribers ,Yes they are long in Gold ,Silver for Short Term Gains.

Updated at 7:43/13th March/Baroda/India




CRUDE-MCX-ASR-Today Morning Told to Sell CRUDE MCX at 6456 level 

Yes ,With Target of  6413——-6396 level.

(Just see it now kissed low of 6398 level )


Today Morning ,We had written our Targets of 920 & Laxman Rekha at 927 level.

Just see now kissed 929.70 level !!


At 11:41 AM ,Today we had written :


sms-3 daysSilver was at 47500 level ………………Crashed to 46866 level.

GOLD MCX was at 30450 level……………….Crashed to 30051 level in PANIC !!


What else u want in life ?????Let us know.



Central banks made 368.6 tonnes in net gold purchase in 2013, according to The World Gold Council.

 Russia, Kazakhstan, Azerbaijan, and Korea, all saw significant increases in official reserves last year. Meanwhile, no gold sales were made in the final year of the current Central Bank Gold Agreement (CBGA), other than a sale that was part of Germany’s coin minting program.

Global official gold holdings totaled 31,890.7 tonnes as of February 2014, according to the latest report from the World Gold Council.

We identified the ten countries with the largest gold reserves.

Note: CBGA refers to the Central Bank Gold Agreements. The first Agreement (CBGA 1) ran from September 27, 1999 to September 26, 2004. The second Agreement (CBGA 2) ran from September 27, 2004 to September 26, 2009. The third Agreement (CBGA 3) will run for five years from September 2009.

10. India

Official gold holdings:
557.7 tonnes

Percent of foreign reserves in gold: 

9. Netherlands >> Read More



Firework Continue………………………………

For this rally :Our Targets we had told to our Subscribers are : 48397——48895 level.

In Last 6 sessions ,Tons of Money Minted.


Our Targets ,Already told……………………..30316———-30503 level.

Yes ,Yesterday kissed High of  30260 level.

As Expected

Nickel ,Copper ,Crude,Natural Gas  ……………………Rocket-07

Now if u Don’t have levels and Strategy…………….How U will Mint Money ??

101% More Details to our Subscribers during trading hrs.

Updated at 9:50/19th Feb/Baroda


China has overtaken India as the world’s largest gold consumer thanks to soaring purchases of jewellery, minted Panda coins and small gold bars.

According to the Thomson Reuters GFMS gold survey, the most widely followed report on the industry, Chinese demand reached 1,189.8 tonnes last year, a 32 per cent year-on-year jump and a fivefold increase since 2003.

 Its hungry factories and mushrooming cities had already made China the number one global consumer of industrial metals such as copper, aluminium and zinc.

The frenetic buying of gold in China, which led to a temporary shortage of physical stocks, was sparked by the 28 per cent fall in the precious metal’s price last year, the worst performance in more than three decades.

Following a 12-year bull run, gold lost its lustre in Europe and North America as economic conditions improved and the prospects of inflation receded. Western investors dumped gold-backed exchange traded funds in 2013, with holdings falling by 880 tonnes. >> Read More


2. As a prudential measure, it has been decided to prescribe a Loan to Value (LTV) Ratio of not exceeding 75 per cent for banks’ lending against Gold jewellery (including bullet repayment loans against pledge of gold jewellery). Therefore, henceforth loans sanctioned by banks should not exceed 75 per cent of the value of gold ornaments and jewellery.
3. In order to standardize the valuation and make it more transparent to the borrower, it has been decided that gold jewellery accepted as security/collateral will have to be valued at the average of the closing price of 22 carat gold for the preceding 30 days as quoted by the India Bullion and Jewellers Association Ltd. [Formerly known as the Bombay Bullion Association Ltd. (BBA)]. If the gold is of purity less than 22 carats, the bank should translate the collateral into 22 carat and value the exact grams of the collateral. In other words, jewellery of lower purity of gold shall be valued proportionately.
4. It is reiterated that banks should continue to observe necessary and usual safeguards and also have a suitable policy for lending against gold jewellery with the approval of their Boards of Directors.

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Technically Yours,
Team ASR,
Baroda, India.