RSBL launches RSBL SPOT APP – Live Gold, Silver, Platinum prices at your Fingertips!

                                                   By Mr. Prithviraj Kothari, MD, RSBL

To know the price of Gold or Silver coin, a common man of India faces ever intriguing questions whether is this best price available in the market? Is the Jeweller charging me more? Will I get a better deal from some other Jeweller? If the price is fixed, the questions arises, Are the goods pure? Can I trust the brand?

Questions, Questions and only Questions to invest in what you love, trust and depend in the times of uncertainty i.e. Gold & Silver. To solve these questions, RSBL is glad to launch RSBL SPOT app on iPhone and Android compatible phones for one and all. A unique app that gives a user an access to Gold, Silver and Platinum live transparent benchmark prices across India!

RSBL SPOT is spread over 18 centers across India and the RSBL SPOT app user would get benchmark two way Buy/Sell quotes of more than 40 Symbols of Gold, Silver and Platinum which includes coin prices too across Indian markets. An app that gives an investor an edge while investing in Gold, Silver or Platinum.

Other special functions:

1. Live international Gold and Silver prices.
2. Gold Symbols with 995 or 999 purity in various denominations while Silver symbols available in 999 purity
3. Live rates on home screen via Widget (Android compatible phones only), even when the app is closed.
4. By registering yourself for free, you can insert price alerts. 
5. Live charts
6. News updates on Bullion industry, 
7. Blogs, 
8. Economic Calendar
9. Videos and so on.

Attaching some screenshots:

RSBL SPOT 

Home Screen

Symbols can be added/removed

Can be used even when RSBL SPOT
 app is closed

Live News

Economic Calendar

RSBL Spot is India’s leading platform for online physical bullion and coins sales with delivery centres spread across the country. RSBL Spot prices are transparent, two-way and continuous. They are the benchmark prices for majority of dealing by all jewellers.

RSBL Spot has revolutionized the bullion trading system in the spot market and is done at par convenience. Its objective is to maintain and improve its market leadership in providing customers with the most effective prices for dealing and physical delivery of gold and silver.

RSBL SPOT app comes with features that are never seen before! Make the most of this opportunity! 


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Consolidation in Gold & Silver prices: RSBL

                                        By Mr. Prithviraj Kothari, MD, RSBL

So far this year has been positive for gold compared to the past couple of years. Reasons behind this are the current market uncertainty and unconventional monetary policies that have continued to support the prices of Gold along with central banks and ETF’s demand for gold has given a boost to Gold prices.

Gloom over the global economic outlook and concern over central banks’ firepower, uncertainty about China’s economic recovery and growing volatility ahead of the UK’s EU referendum next month are adding fuel to the fire.

Gold price action has been erratic at the start of the new trading month. At the start of May, gold surged to $1303, its strongest since January 2015, but earlier last week fell to a two-week low of $1257 and currently trading around $1250.

Precious metals showed a firm up move at the start of the week, with prices up an average of 0.7 percent, gold prices were up 0.5 percent at $1,271. But it has slowly faded and the down move has begun which could be due to the fact that over-extended gross fund long positions in Gold and Silver have made the markets vulnerable to a spate of profit-taking.

The Fed minutes released yesterday caused an increase in Dollar strength. The statements proved to be more hawkish than the market expected where some FED members would look forward to a June month rate hike if the economic situation improves. Labour market conditions continue to improve and the inflation progress is towards the committee objective but the consistency is important for the next hike to take place.

But physical demand in India has been a major obstacle. High prices and industrial action in India led to a 19-percent drop in jewellery demand that could not be offset by seasonal buying and the increase around the traditional gold-buying festivals.

Other data released during the week that influenced gold prices were:

• In US data released Thursday, weekly unemployment claims during the week ending May 7 raised for the third straight week to 294,000, above the forecast of 270,000.
• Import prices month-over-month in April ticked up 0.3 percent, under the economic consensus of 0.6 percent.
• The weak US data had sent spot gold to as high as $1,281 overnight but the rally proved short-lived as it was soon sold down to the mid-$1,260’s. 

The negative interest rate atmosphere in Europe and Japan, combined with uncertainty over the Chinese economy, anticipation of slower interest rate rises in the US and global stock market turmoil have proved to be in favour of gold.

The yellow metal along with Silver have been consolidating but are also holding up and what we need to watch is that whether it could suffer significant profit-taking given the extent of the long positions.

Until there is a sustained break above $1280, a new rally in Gold does not appear on the cards while Silver needs to break above $17.20. Currently, according to me in the Indian SPOT markets the Gold would trade in the range of INR 28,900 to INR 30,300 while in Silver the range would be INR 38,500 to INR 42,000.

Thank You!

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The primary purpose of this article by Mr. Prithviraj Kothari is to educate the masses of the current happenings in the Bullion world.

- Previous blog –

HAPPY AKSHAYA TRITIYA: RSBL

http://riddisiddhibullionsltd.blogspot.in/2016/05/happy-akshaya-tritiya-rsbl.html

Photo courtesy: Google search

RSBL: Gold & Silver prices rise

                                                                           By Mr. Prithviraj Kothari, MD, RSBL

Last week we saw gold prices setting to 15 month high on Friday.

This surge in prices was influence by nervous stock markets which raised gold’s safe haven demand. Currently A confluence of monetary and financial factors is supporting gold prices.

A solidly lower U.S. dollar index that hit an eight-month low Friday and Nymex crude oil prices that notched a five-month high are bullish "outside market" forces that are also propelling gold and silver prices higher.

On Wednesday, the US Federal Reserve continued its historically low nominal interest rates and didn’t signal to markets that another rate hike was forthcoming. We saw increased uncertainty in the markets on Thursday, one day after the Fed’s policy statement came out, but the Fed’s reflections had little to do with the market movements.

While in the US, unemployment claims hit a 42-year low of 247,000, which easily beat the 257,000 forecast. But US GDP increased by a 0.5-percent annual rate in the first quarter, the slowest pace since the first quarter of 2014 and below the 0.7-percent consensus estimate.

This paradox of a strong jobs market with tepid GDP growth has put the Federal Reserve in a bind. In its April statement released, the Fed decided to maintain near-zero interest rates despite noting that global risks had eased over the last several weeks.

Investors aren’t expecting the Fed to raise rates anytime soon with a majority of investors citing December as the most likely time for the Fed to rise rates again, according to the CME Group Fed Watch.

Additionally, the Bank of Japan’s (BOJ) shocked markets Wednesday by deciding to keep its monetary policy unchanged.

Now what needs to be watched is the action coming in for gold from the sidelined factors. Moreover what needs to be assessed is how the dollar will behave this week since currency continues to be the predominant driver in most commodity markets for the moment.

Thank You!

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The primary purpose of this article by Mr. Prithviraj Kothari is to educate the masses of the current happenings in the Bullion world.

- Previous blog -
 "BEST QUARTER FOR BULLION SINCE THREE DECADES: RSBL"
http://riddisiddhibullionsltd.blogspot.in/2016/04/best-quarter-for-bullion-since-three.html

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RSBL: Why Gold is still cheap?

                                                                             By Mr. Prithviraj Kothari, MD, RSBL

Before jumping onto the main topic, I would like to essay out some facts about Gold prices this year. (Assuming Silver prices have more or less followed Gold prices). I am sure; lot of people would be feeling that US$60 is a big decline for Gold prices in the recent weeks and few would even have increased their bearish bets against the precious metal. I must warn them by quoting that even after the recent decline; the precious metal is nearly 16% up from its lows.

Then why there is a decline?

1.  The U.S. central bank surprised markets last week by cutting its rate hike projections more than expected, down from four to two in 2016, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy. This led to a rally in the U.S. dollar index and in turn bearish for the metal.

2.  There was a brief safe haven status which Gold gained due to the attacks in Brussels.

3.  Throughout the last week various Fed members including Patrick Harker, the Philadelphia Fed president,  have come out in support of raising interest as soon as April – if the economic conditions were to move.

4.  One more reason is the Easter Holidays, where I would see the profit booking in the Gold prices is quite understandable.

Now coming to the main topic: Why Gold is undervalued according to me?

1.       Reducing the number of rate hikes from 4 to 2, clearly states that FED isn’t sure how the world economy would fare in the longer run. Even when US economy has been showing some positive economic numbers, they are unable to take the most obvious step and when the inflation picks up faster than the central bank expects, they would have to increase the rates quickly.

2.       A dovish Federal Reserve, a weaker U.S. dollar and negative real interest rates will all be positive for gold this year. Over the recent years, the most dominant driver for gold prices has been the direction of the US dollar. As we are now expecting a lower dollar over the coming years we expect it to play a crucial role in the movement of gold prices. As for the Fed the analysts say that even if the Fed does raise interest rates later this year -- a scenario they see as unlikely -- they will be perceived as being behind the inflation curve high will once again be a pushing factor for gold prices as investors will likely buy gold because of lower US real yields and as some may see gold as a possible inflation hedge.

3.      There are lot of crucial political events this year:

a.   Current leadership crises in Brazil

b.  US presidential election in November

c.   U.K’s June vote over its membership in European Union.

All of them would leave a lasting effect if they go against the market.

4.      Terror threat across Europe, Syrian conflict and other Geopolitical tensions will always make Gold has the safest investment during the turmoil.

5.       Moody’s Investors Service highlighted China’s surging debt burden in lowering the nation’s credit-rating outlook to negative from stable earlier this month.

6.       We are in a tug of war between slow growth and high valuations on one side and central bank stimulus on the other.

Looking at the renewed turmoil in financial markets by highlighting the Fed’s policy divergence with the ultra-easy stances of the ECB and Bank of Japan, the near future seems bright for gold. 

Thank You!

You may follow me on:

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The primary purpose of this article by Mr. Prithviraj Kothari is to educate the masses of the current happenings in the Bullion world.

- Previous blog -
 "Brussels explosion and Gold's Safe haven appeal: RSBL"
http://riddisiddhibullionsltd.blogspot.in/2016/03/brussels-explosion-and-golds-safe-haven.html

Photo courtesy: Google search

Wishing you a very happy and a colourful Holi!

                   

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Brussels explosion and Gold's Safe haven appeal: RSBL

                                                              By Mr. Prithviraj Kothari, MD, RSBL

As I was about to publish this blog, Brussels was rocked by multiple explosions that left many dead and wounded. My heartfelt condolences to their families in these challenging times of despair! 

Gold is known for its safe haven appeal and the same has been proven once again. A quick rise of nearly US$20 proved that traders and investors would flock behind Gold to protect themselves from unknown strikes and calamities. 

Hourly price rise of Gold_220316 - RSBL SPOT terminal

Moreover since the Global downturn, the precious metal has risen by nearly 13-month high.

I did mention in my last blog that I do expect some corrections before the next up move and we all witnessed the same before the FED meeting. The FED meeting on Wednesday did conclude that the global risks pose a threat to the US economic recovery.

The U.S. central bank held interest rates steady on Wednesday and indicated it would tighten policy this year, but fresh projections offered by the Fed showed policymakers expect two quarter-point increases by year-end, half the number forecast in December. Expectations that the Fed would raise rates steadily this year had faded since the bank's initial hike in December, as concerns about global growth roiled financial markets.

It decided to scale back the number of planned rate rises this year to two from four, which initially spurred the precious metal to a one-week high while bond yields and the dollar fell and equities made up some lost ground.

Spot gold was down 0.31 percent at $1,253.99 an ounce during Fridays trading hours though the yellow metal closed on a positive side and was up around 0.4 percent on the week. Gold edged down on Friday, as the dollar steadied above a five-month low, but the metal remained on track for a weekly gain after the Federal Reserve scaled down rate hike expectations.

Inflation is a very important economic number that the FED is watching closely. Until it is below their target of 2%, there won’t be much room for FED with the rate hike policy. Unemployment, according to FED is back on track. 

Commitment of Traders report that was realized on Friday, showed Gold and Silver ETFs have seen continued interest and strong buying has been the trend. Gold holdings increased by 915’000 ounces in just two days, while Silver added 3 Mio. ounces as per the report.

With the Easter holiday around the corner, buying interest would mute from here on until further developments on the Brussels’ incidence. 

A support of $1230 and a resistance of $1270 do play strong price levels for Gold’s next move while Silver price levels would be supported by $15.20 and a key resistance of $16.70.

Thank You!

You may follow me on:

Facebook: https://www.facebook.com/prithviraj.kothari
Twitter: https://twitter.com/prithvirajrsbl
Website: http://www.rsbl.co.in/
YouTube: https://www.youtube.com/user/PrithvirajKothari
Google+ URL: http://www.google.com/+PrithvirajKothari


The primary purpose of this article by Mr. Prithviraj Kothari is to educate the masses of the current happenings in the Bullion world.

 - Previous blog -
"Renewed confidence in Gold and Silver: RSBL"
http://riddisiddhibullionsltd.blogspot.in/2016/03/renewed-confidence-in-gold-and-silver.html

Photo courtesy: Google search