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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
Top News
Gem Diamonds H1 Revenue Drops
London: Gem Diamonds said its revenue dropped to $118 million in the first six months of the year from $148.9 million realised a year earlier. The company said in a statement emailed to Rough & Polished that its attributable profit also dropped to $15.4 million during the same period from $19.7 million in the first half of 2014. Gem Diamonds
GSI Breaks New Ground in Star and Melee Testing
Surat: Gemological Science International (GSI, Surat), the gemological lab, has announced through an official press release that it is the first and the only laboratory in India to begin batch testing for star and melee sized diamonds using the latest state of the art technology. In response to increasing demand for FTIR services, GSI offers resourceful and cost effective testing
India Diamond Week Starts 24th Aug in New York
New York: The 3rd India Diamond Week organized by The Gem & Jewellery Export Promotion Council (GJEPC) in association with the Diamond Dealer Club, New York opens on August 24, 2015 and will run till August 27. As many as 26 leading diamond companies from India will be participating in the event. Launched last year as a trading platform to
De Beers Granted New Licences in Botswana, SA
Gaborone: De Beers, which is 85 percent-owned by Anglo American, said it was this year granted four new licences in Botswana, Group head of media relations Lynette Gould told Rough & Polished in an interview. “We have been granted four new licences in Botswana; three in the Tsabong area, and one in the Orapa area,” she said. Gould said the
Chow Tai Fook Exploring Diamond Mine Acquisitions
Beijing: Chow Tai Fook Jewellery Group Ltd. (1929) is considering acquiring stakes in diamond mines to secure long-term supply of the gems as it targets growing demand for diamond jewelry in China, reports Bloomberg.com. Several mines around the world have asked Chow Tai Fook to invest, and the company has looked at some Canadian ones, Executive Director Adrian Cheng said
New Surat Diamond Bourse to Come up at Khajod
Surat: The most awaited project of proposed Surat Diamond Bourse has recently got a fillip as the Gujarat government has principally agreed to allot a plot at Khajod, said Mr. Pravin Nanavati, the former president of Southern Gujarat Chamber of Commerce & Industry (SGCCI). The proposed bourse would be spread over 300 acres plot and probable the largest in the
Surat to Become Diamond Trading Centre Soon
Surat: The Union government has given an in-principal approval to India’s first ‘diamond notified region’ in the diamond city of Gujarat. This will enable diamond mining companies from across the world to set-up rough diamond trading offices for direct trading with companies based in Surat and Mumbai, reports The Times of India. A delegation of Gujarat government met the Union
Putin Invited to Visit Surat
Surat: Surat mayor Niranjan Jajmera and the South Gujarat Chamber of Commerce and Industry (SGCCI) president, Mahendra Katargamwala, have formally invited Russian President Vladimir Putin to visit the diamond city during his India tour in December. Formal invites on behalf of the mayor and the SGCCI have been sent through the office of the Russian Ambassador in India, official sources
