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 THE BULLION REPORT
 
KEDIA COMMODITIES
 
INDIA’S PREMIUM RESEARCH HOUSE
 
 
KEDIACOMMODITIES
 
Page
 
|
 
2
 
BULLION
 
UDPATE
 
 
The
 
World
 
Gold
 
Council
 
(WGC) said
 
that
 
the
 
increase
 
in
 
gold
 
import
 
duty
 
in
 
the
 
Union
 
Budget
 
may
 
lead
 
to
 
additional
 
smuggling
 
of 
 
gold,
 
especially
 
during
 
periods
 
of 
 
high
 
demand
 
such
 
as
 
the
 
festival
 
season.
 
 
India
 
gold
 
futures
 
traded
 
steady
 
as
 
pressure
 
from
 
lower
 
crude
 
was
 
offset
 
by
 
a
 
weak
 
rupee
 
back
 
home,
 
with
 
investors
 
eyeing
 
Group
 
of 
 
Eight
 
summit
 
for
 
direction.
 
 
The
 
world's
 
largest
 
gold
‐
backed
 
exchange
‐
traded
 
fund,
 
the
 
SPDR
 
Gold
 
Trust
 
GLD,
 
said
 
holdings
 
stood
 
at
 
1,120.19
 
tonnes
 
as
 
of 
 
July
 
7.
 
 
Gold
 
remains
 
mildly
 
on
 
the
 
downside
 
with
 
934.8
 
minor
 
resistances
 
intact.
 
Fresh
 
dollar
 
weakness
 
has
 
been
 
an
 
important
 
driver
 
in
 
the
 
market,
 
and
 
support
 
is
 
likely
 
to
 
have
 
at
 
913.80
 
&
 
902$.
 
 
Rupee
 
tumbled
 
to
 
its
 
lowest
 
in
 
two
 
weeks
 
as
 
Asian
 
stocks
 
were
 
lower,
 
indicating
 
that
 
local
 
shares
 
would
 
start
 
down
 
Inr
 
look
 
to
 
touch
 
49
 
level
 
once
 
again.
 
 
 
KEDIACOMMODITIES
 
Page
 
|
 
3
 
BULLION
 
UPDATE
 
 
Silver
 
ETF
 
saw
 
inflows
 
of 
 
more
 
than
 
570,000
 
ounces,
 
bringing
 
its
 
total
 
holdings
 
to
 
49.371
 
million
 
ounces
 
from
 
48.780
 
million.
 
 
Import
 
tax
 
has
 
raised,
 
Gold
 
bars
 
are
 
being
 
raised
 
to
 
200
 
rupees
 
($4.1)
 
per
 
10
 
grams
 
from
 
100
 
rupees
 
earlier.
 
The
 
minister
 
said
 
import
 
duty
 
on
 
silver
 
is
 
being
 
raised
 
to
 
1,000
 
rupees
 
($20.7)
 
per
 
kg
 
from
 
500
 
rupees
 
earlier.
 
 
Silver
 
remains
 
weak
 
at
 
current
 
13$.
 
The
 
metal
 
is
 
tracking
 
a
 
one
 
month
 
bear
 
channel
 
that
 
shows
 
parameters
 
12.25
 
and
 
13.51.
 
 
Gold
 
Silver
 
ratio
 
currently
 
is
 
at
 
70.28.
 
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