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Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Despite Collapsing Hike Odds, Rising Yields Kept Indian Gold, Silver Below Their Floors
Snap Shot: Most of the damage in the week ending 2 October landed before the good news arrived, and the good news then failed to repair it. August core PCE inflation, released on 30 September, rose 3.0% from a year earlier against expectations of 3.3%, helped partly by methodology changes at the Bureau of Economic Analysis. September payrolls on 2 October then added just 29,000 jobs against forecasts near 90,000, with unemployment at 4.2% and August revised down to 133,000
Top News
Two Miners Leave World Gold Council
London: Two longtime members of the World Gold Council have resigned from the organization, reportedly for financial reasons. The decisions of AngloGold Ashanti and Gold Fields to leave were cost based, according to a report in Bloomberg. In a statement, the organization said it “regrets the departures.” “As long-standing members, AngloGold Ashanti and Gold Fields have played a leading role
China’s Gold Demand to Continue For 20 Years
Beijing: China’s strong appetite for gold is expected to continue for the next 20 years, driven by the country’s increasing per capita income and the global shift of gold consumption from the West to the East, the China Gold Association said. In 2013, China’s gold consumption reached 1,176.4 tonnes, making it the world’s biggest gold consumer. Its consumption in 2014
British MPs Urge to Probe Gold Price-Rigging
London: British Members of Parliament (MPs) have called on the UK’s financial watchdog to investigate allegations of price-rigging in the London gold market after a senior regulatory executive said that there may have been co-ordinated attempts to manipulate a crucial benchmark, Financial Times reports. Members of the influential parliamentary Treasury select committee pressed the Financial Conduct Authority to act after
RBI to Swap Gold to Improve Reserves Quality
Mumbai: The Reserve Bank of India (RBI) said yesterday that it had sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves. The RBI sources said that the measure would “standardize the gold available with RBI in India with respect to international standards” and the gold acquired would
Deepika Padukone Graces GJEPC’s ‘Jewellers for Hope’ Charity Dinner
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organised the 7th edition of its charity dinner ‘Jewellers for Hope’ in association with World Gold Council (WGC), De Beers, and Powered by GIA. As every year, this year too, the event raised Rs. 1 Crore from Jewellers. The proceeds of the charity dinner were donated to leading Bollywood actress Deepika
Hema Malini Inaugurated the IIJS Premiere 2022
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem & jewellery trade, kick started its flagship show IIJS premiere 2022 today. The show was inaugurated by Ms. Hema Malini, Member of Parliament along with Mr. Colin Shah, Chairman, GJEPC; Mr. Vipul Shah, Vice Chairman, GJEPC; Mr. Shailesh Sangani, Convener, National Exhibitions, GJEPC; and Mr.
WGC Launches SRO for India’s Gold Ind.
Mumbai: The World Gold Council (WGC) launched the country’s first Self-Regulatory Organisation (SRO) for the gold industry to promote the Swarna Adarsh Abhiyan (SAA) as an umbrella brand of industry’s best practices. The professionally-run SRO will build on the work of the SAA initiative – devising code of conduct for every industry vertical, providing certification for members who adopt these
Fancy Color Diamond Index Shows Overall Rise
Mumbai: Fancy Color Research Foundation (FCRF), a New York based non-profit organisation, said its Q2 2022 Fancy Color Diamond Index (FCDI) saw a price rise in all colours and sizes of fancy colour diamonds, with an average increase of 0.8%. This upward trend is apparent compared to other global indices, such as the Dow Jones -11.3%, the S&P -16.4%, gold
