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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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Indias Silver Jewellery Exports Double
Mumbai: A shortage of gold as a raw material and the consequent decline in gold jewellery exports appears to have opened up new avenues of growth for silver jewellery in India, reports Mineweb. Indias silver jewellery exports rose 45.33% to $84.1 million in February 2014, and jumped 89% in the 11-month period to $1.35 billion, according to data from the Gem
AGL Celebrates Five Years under New Management
New York, 15th April: American Gemological Laboratories (AGL), a provider of high-quality gemstone analysis and reporting is celebrating its five-year anniversary under the stewardship of Christopher P. Smith. “Five years ago, AGL was re-privatized during one of the most difficult periods the US and world financial markets have experienced in recent decades. AGL, however, had a good reputation and we did
Gold Smuggling Arrests Jump 750% YoY in India
Mumbai, 14th April: While cases of gold smuggling in India have jumped 265% from 40 in 2012-13 to 146 in 2013-14, the number of people arrested has shot up by 750%, from 30 in 2012-13 to 255 in 2013-14, data from the Directorate of Revenue Intelligence shows, according to a report published in Mineweb. “Gold imports through the legal channel have
Cen. Bank Gold Demand to Rise in 2025: WGC
Mumbai: More than eight in ten (81%) of respondents have indicated that they expect reserve managers will continue to increase their gold holdings in the next 12 months, according to new data released by the World Gold Council (WGC). This is the highest ever recorded since its 2019 annual survey. The 2024 Central Banks Gold Reserves (CBGR) survey, which collected
PM Vishwakarma Training Program for Jewellery Artisans at IIGJ Udupi
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) launched the PM Vishwakarma Training Program at Indian Institute of Gem & Jewellery (IIGJ), Udupi (Mangalore, Karnataka) in an endeavour to empower the artisans of the gem and jewellery industry and enhancing their skills and productivity. Participants of the program will receive a toolkit valued at ₹15,000 from the Government of
Govt. Clarifies Re-Import Rules for Unsold Jewellery at Exhibitions
New Delhi: India’s Ministry of Commerce & Industry has issued a crucial clarification concerning the re-import of unsold jewellery exported for exhibitions under specific conditions outlined in the Handbook of Procedure, 2023. This announcement follows recent amendments to the import policy for certain jewellery items. The Directorate General of Foreign Trade (DGFT), Department of Commerce, Ministry of Commerce & Industry,
7th Platinum BSM on 4th & 5th July
Kochi: Platinum Guild International (PGI)-India has organized the highly anticipated 7th edition of its prestigious flagship event, the Platinum Buyer-Seller Meet (BSM) in Kochi. The marquee event will be held on 4th and 5th of July 2024, bringing together 16 official platinum jewellery manufacturers and leading names in retail jewellery business under the PGI programme. Renowned for its focus on design and
