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Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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Celebrate Valentine’s Day with Platinum Evara
Mumbai: With Valentine’s Day around the corner, dedicate this time of the year to celebrating self-love! True happiness always begins with loving yourself. So this month of love, be your own Valentine by gifting yourself a metal that is just as unique and rare as you are – precious platinum. Born from the stars, platinum is one of the rarest
G&J Industry Applauds the Union Budget
Mumbai: Gem & Jewellery Export Promotion Council (GJEPC) applauds the pro-reform and export growth-oriented budget by Hon. Finance Minister Smt. Nirmala Sitharaman under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi. The supreme trade body thanked Hon’ble Minister of Commerce & Industry Mr. Piyush Goyal for his continuous support and guidance to the industry. In the first Budget
Annual Gold Demand Soars to Decade High in 2022
Mumbai: The World Gold Council’s (WGC) latest Gold Demand Trends report reveals that annual gold demand (excluding OTC) in 2022 increased by 18% year-on-year, hitting 4,741t – the highest annual total since 2011. Boosted by a record fourth quarter, demand for gold was propelled by hefty central bank-buying and persistently strong retail investment. Annual central bank demand more than doubled
GJEPC’s 2023-24 Budget Recommendations
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has put forth a series of recommendations for the Union Budget 2023- 24 across verticals of gem and jewellery, to propel the exports from the current $40 billion levels to achieve the goal of $55 billion in exports in the next few years 5 Key Recommendations are as follows: Allow Sale
Debswana Prolongs Lifespan of Mines To 2050
Gaborone: Debswana, a joint venture between De Beers and the Botswana government, has extended the lifespan of its mines in the southern African country to 2050. Company managing director Balisi Bonyongo was quoted by APA as saying that the extension would solidify Botswana’s position as the world’s leading diamond producer by value. He also said that Debswana would continue to
Artisan Awards Receives 800 Artworks
Mumbai: An afternoon filled with awe and excitement, the Gem and Jewellery Export Promotion Council of India (GJEPC), hosted the first round of screening for the Artisan Awards 2014. The eminent jury panel selected a total of 40 sketches from 800 entries, narrowing down the best in design, ingeniously bringing alive the movie eras through jewellery. Sanjiv Banerjee, Mamta Rajaram,
Surat to Have India's First Diamond SEZ Soon
Surat: The State of Gujarat in India is now proposing to set up a SEZ (Special Economic Zone) exclusively for diamonds in Surat, possibly the first of its kind in India. According to Gujarat’s Finance Minister Saurabh Patel, the SEZ will be set up in a month or two, as reported in Economic Times. The state government is keen that
India, China Sign MoU on Gem Trade
Jaipur: The gemstone councils of China and India recently signed a memorandum of understanding (MoU) to help facilitate seamless jewellery trade between the two countries, the Times of India reported. The MoU was inked between India’s Gems and Jewellery Export Promotion Council (GJEPC) and China Gems Centre (CGC) on the sidelines of the Jewellers Association Show in Jaipur. Panyu City Vice
