Above is Daily CHART of GOLD SPOT
Mind Blowing Rally ,Tons of Money Minted by our MCX Subscribers
Now Gold Spot @ 1205
Crucial Support at $ 1200————————————-1195 level.
Yes ,Break with volumes and sustains below 1195 will create more panic.
Hurdles at $$ 1223—-1228 level.
Above is Daily Chart of GOLD SPOT
Yes ,Our Major Support at $ 1141……..Not Broken ,Our Targets were :1165——1170
Next Target were :1187———————–1192 level
(Just see it kissed High of $ 1188 level )
All Eyes on $ 1192 level.Crossover and close above this level create more Firework
We see Rally upto 1203—-1208 level
101% More Details to our MCX Subscribers ,Updated at 6:20/23rd March/Baroda
There is a story being told to the masses about Chinese gold demand that is grossly incorrect. The huge discrepancy between numbers from the World Gold Council (WGC) and actual gold demand is so wide yet cunningly hidden I must conclude there is essential information about physical gold demand deliberately kept privy.
Let’s go back to April 2013; the price of gold made a nosedive, which spawned an unprecedented physical buying spree across the globe, most notably in China. Withdrawals from the vaults of the Shanghai Gold Exchange (SGE), that equal Chinese wholesale demand, closed at 2,197 metric tonnes December 31, 2013, up 93 % y/y.
However, the WGC (the global authority on gold) initially stated Chinese consumer gold demand had reached 1,066 tonnes in 2013, an astonishing 1,131 tonnes less than wholesale demand. In the China Gold Association (CGA) Gold Yearbook 2013 it was disclosed China had net imported 1,524 tonnes and domestically mined 428 tonnes. Without counting scrap supply this adds up to 1,952 tonnes; adding scrap total supply has been well over 2,000 tonnes. It’s impossible consumer demand was only 1,066 tonnes.
Finally the WGC admitted their initial estimate of 1,066 tonnes of Chinese gold demand was grossly understated. By email they wrote me on February 12, 2015:
Dear Mr Jansen,
Thank you for emailing the World Gold Council, we apologize that your previous enquiry was missed.
Our figure for Chinese consumer demand in 2013 has since been revised upwards to 1,311.8 tonnes from the original figure of 1,066 tonnes published in the full year 2013 Gold Demand Trends report.
>> Read More
Last Close :26012
At 26657 level………………..Recommended to Go short and Remain short
With Target of 26043————–25838 level.
Yes ,On Friday kissed low of 25982 level.
China’s planned gold fixing will promote the country’s interests and provide it with a “decisive influence” on global prices, Zhang Lei, chief gold analyst with the Beijing Gold Exchange Center, told Sputnik on Friday.
“Chinese gold fixing will directly reflect domestic prices on the Chinese market, and gradually introduce its own rules to the global gold market,” Zhang said, adding that this will grant China a “decisive influence on the establishment of the gold price.”
Local media reported earlier in the week that Chinese banks will take part in the ICE Benchmark Administration’s new gold fixing system, set to replace the nearly century-old London gold fix.
Yuan-denominated gold fixing will complement the new mechanism, and gradually promote the interests of the Chinese market, according to Zhang.
There is a major new buyer in the gold market – Apple
- New Apple watch could use up to one third of total annual gold supply
- Apple expects to sell one million gold watches per month
- Each watch to use up to two ounces of gold
- May have enormous ramifications for gold market and propel prices higher
Apple may consume up to 746 metric tonnes of gold per year in the production of its new luxury Apple watch, due for release in April. This equates to roughly one third of gold’s total annual global mine supply. Read more ›
Above is Daily Chart of GOLD SPOT
Our Crucial Support was $ 1194 level…………..Yes ,it kissed low of 1190 & taken U-turn !
Now ,U All Watch : $ 1219—————–1226 level.
Crossover above and close above $ 1226 level for 3 Consecutive days will take to $ 1248—-1255 level is possible.
Yes ,101% Will Update More Details to our Subscribers,Updated at 21:11/01st March/Baroda/India
24 February 2015 - 10:50 am
To its fans, gold has multiple attractions. Purportedly, it is an inflation hedge. But over the past decade there is little proof of that. There has been little inflation over the period. A rising dollar has capped the price of most (dollar-priced) commodities that might cause inflation, such as oil and copper. But when there has been inflation, the gold price has shown little correlation with it. There is a strong correlation between gold and real rates (when the latter rise, the former falls), reflecting the opportunity cost of holding yieldless gold. But that does not make the metal a hedge against inflation.
On to attraction number two: gold treads its own path, and is not swayed by the excesses of the equity or bond markets. That may be an attraction sometimes, but not recently. Since peaking in 2011 at more than $1,800 an ounce, the spot price has dropped to $1,200; meanwhile, world equity and bond prices touch record highs.
Attraction number three is rising Asian demand for the metal. According to the World Gold Council, China and India together account for more than 40 per cent of total gold consumption, including for investment. In these two countries demand fell by more than a quarter last year. In part, that is due to import limits put in place in India. But most of the volume decline occurred in China. Global demand has fallen for three years; this year that trend has continued in both these countries. >> Read More
12 February 2015 - 18:42 pm
India’s gold demand is set to rise upto 20% this year on potential increase in household savings following the government’s focus on poverty alleviation.
Global miners’ representative body the World Gold Council (WGC) forecast India’s full year gold demand between 900-1000 tonnes in 2015, a significant rise from the actual demand of 842.7 tonnes in 2015. India’s gold demand was reported at 974.5 tonnes in 2013.
“We estimate 21 million people will become net savers this year. Assuming that the average purchase by them would be one gram, another 210 tonnes of additional buying will come this year. Conservatively, we estimate India’s gold demand to remain between 900-1000 tonnes this year,” said Somasundaram PR, managing director (India), WGC.
After food and shelter, savings’ first preference is gold. In 2014, therefore, an estimated 8% of savings are estimated to have been gone into gold. In the last 10 years, gold has offered 17% compounded annual growth rate (CAGR) returns. >> Read More
29 January 2015 - 10:25 am
To say that Zimbabwe has not had much luck in its recent, post Robert Mugabe-goes-berserk, history with fiat money is putting it lightly.
But did you know that with gold trading at prevailing depressed prices, driven over the past several years not by physical demand but by paper supply, Zimbabwe is about to have another “money” moment, only this time not with fiat but with real money.
The reason: the same one why every so often we show the gold cost curve: because some miners simply can not continue operating if the “market” price of gold, with or without central bank and BIS intervention, is below their blended cost. >> Read More