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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
Gold Hallmarking Initiative Sees Growth in 2024
New Delhi: India’s Department of Consumer Affairs (DCA) announced a successful year for its hallmarking initiatives, with increased registrations and a wider reach for consumers. In its 2024 year-end review, the DCA highlighted significant progress in ensuring the purity and quality of gold jewellery and artifacts. Between 1st April and 25th November 2024, hallmarking registrations saw a 4% increase, rising
GJEPC Presents Pre-Budget Recommendations
New Delhi: Mr. Vipul Shah, Chairman, GJEPC, met Hon’ble Finance Minister Mrs.. Nirmala Sitharaman today during a pre-budget consultation held in Delhi today. During the meeting, Mr. Shah presented key recommendations on behalf of the gem and jewellery industry, aimed at fostering growth, enhancing global competitiveness, and addressing the industry’s critical challenges. Mr. Shah said, “We thank the Hon’ble Finance
HDFC Bank Carries Out 1st Gold Forward Deal from GIFT City
Mumbai: HDFC, India’s private sector bank, has become the first domestic bank to execute a gold forward deal from GIFT City (Gujarat International Finance Tec-City.) The deal was executed by HDFC BANK GIFT City IBU in collaboration with Hindustan Platinum Pvt. Ltd., a global refiner and manufacturer of high purity precious metal products and industrial services. Regulators have enabled onshore
Gem-A Launches ’24 Issue of The Journal of Gemmology
London: The Gemmological Association of Great Britain (Gem-A) has launched the latest issue of its academic publication, The Journal of Gemmology (Volume 39, No. 4, 2024). Released digitally on December 13, this issue contains news and research from the international gemmological community, including an article dedicated to emeralds from Musakashi in the Solwezi District of Zambia. These emeralds may exhibit similarities to
Gold Scheme Can Fetch Rs. 1 Lakh Crore: SBI
Mumbai: Describing the proposed gold deposit scheme as game changer, the SBIs economic research department has said it will help attract at least Rs. 1 lakh crore in deposits on the precious metal, reports The Economic Times. The proposed introduction of a gold deposit scheme is a big positive and conservative estimates show that the monetary value of gold deposits
Gemfields’ Auction Totals $14.5 Million
London: Gemfields’ latest auction of emerald and beryl has raised $14.5 million. The gemstone miner announced that the average price realized in the auction of stones from Kagem was $3.72 per carat, which it says was a new record for lower quality auctions. Of the 10.1 million carats that were offered for sale in Lusaka, 3.9 million carats were sold
Industry Disappointed with India's Budget
Mumbai: Mailbox of the gems2jewellery.com has been flooded with reactions of trade bodies and industry leaders expressing their ‘unhappiness’ over the latest budgetary proposals made by the Union Finance Minister Mr. Arun Jaitley. Here we produce them under one compiled news item: Mr. Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) says: Our congratulations to the
India Proposes Gold Monetization Scheme: No Reduction in Import Duty
New Delhi: India’s Finance Minister Mr. Arun Jaitley has once again disappointed the jewellery industry by maintaining status quo on the gold import duty which is prevailing at 10%. On the contrary he preferred to put a check on import of the yellow metal by proposing to introduce gold deposit accounts to utilize the 20,000 tons available within the country
