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With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
With December Hike Odds Intact, Can a Midterm Rally Repair Gold, Silver’s Breakdowns?
Macro Snapshot: Gold posted its best week since late August, but it got there on rate relief that had disappeared by Friday. COMEX gold rose 4.5% to $4,074.9 and silver 5.4% to $51.94 while cheaper oil pushed the odds of a December Fed hike down from about 71% on 30 October to 64% ahead of Friday’s payrolls, according to CME FedWatch readings reported by Benzinga and Reuters. The jobs data sent the odds back up to 74.8%, CNBC reported, a
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MMTC-PAMP Unveils Lord Shiva 50gm Silver Bar
Mumbai: MMTC-PAMP, India’s only London Bullion Market Association (LBMA) accredited Good Delivery gold & silver refiner, has launched the Lord Shiva 50 grams 999.9+ purity Silver Bar, an exceptional collectible that celebrates the timeless devotion to Lord Shiva, a deity deeply revered in Hinduism. This silver bar is a spiritual masterpiece, a visual embodiment of Lord Shiva’s cosmic power, serenity,
IIGJ Mumbai Opens Modern Campus to Power Industry Growth
Mumbai: The Indian Institute of Gems & Jewellery (IIGJ), Mumbai, took a significant leap forward in its journey of growth with the inauguration of its newly modernized, state-of-the-art campus. The launch marks a new chapter for the institute, reinforcing its role as a centre of excellence in gems and jewellery education, skill development, and innovation. The ceremony was graced by
Progress in Harmonization of Language used on Gemological Reports
Mumbai: The Laboratory Manual Harmonization Committee (LMHC) has reported significant progress towards its goal of achieving the harmonisation of language used on gemmological reports, following its latest meeting, which was hosted by the Swiss Gemmological Institute – SSEF, in Basel, Switzerland, in May. Following the meeting, LMHC members unanimously approved three new information sheets that standardise terminology and testing procedures, and
GJEPC Urges Finance Minister for Urgent Relief
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) leadership, led by Chairman Mr. Kirit Bhansali, along with Vice Chairman Mr. Shaunak Parikh and Executive Director Mr. Sabyasachi Ray, met the Hon’ble Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman recently to seek urgent relief measures for the gem and jewellery sector, which has been severely impacted by
WFDB Expresses Sympathy for Coronavirus Victims
Antwerp: As COVID-19 flew across the globe and WHO declared it a pandemic, the world was already gripped with the reality that stared it in the face: the impact on the health and lives of large numbers of people in the short term, and a looming global recession and disruption of businesses over the medium term. The President of the
India’s Diamond Exports Suffer Heavy Fall in Feb
Mumbai: India’s gross exports of cut and polished diamonds (CPD) have gone down heavily by more than 40% in February 2020 because of the Covid-19 pandemic. Totals were down from $2.34bn in February 2019 to $1.38bn for this February, according to The Gem & Jewellery Export Promotion Council (GJEPC). But exports of gold jewelry were up, as were overseas sales
KP to Hold Virtual Intersessional Conference
Moscow: The Kimberley Process (KP) Intersessional Meeting will be organised as a virtual conference this year, as a precaution against the coronavirus pandemic. The annual forum, in which member states, civil societies and the diamond industry come together, was scheduled to take place in Moscow from June 8 to 12. “COVID-19 is a global challenge without parallel in our living
GJEPC Held Seminar on “Vivad Se Vishwas” Scheme
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized an interactive session on “Vivad Se Vishwas“ recently at the Convention Hall, Bharat Diamond Bourse, Bandra, Mumbai. The purpose of the session was to impart information to members about various facets of this scheme, which was announced during Budget 2020-21. Mr. Anil Kumar, Principal Commissioner of Income Tax; Mr. Rakesh
