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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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Alrosa's Net Profit for 1st Quarter Came Down by 87%
Moscow: ALROSA’s net profit for the 1st quarter of 2020 under IFRS amounted to 3 billion rubles, which is a 74% drop from 11.7 billion rubles compared to the previous quarter and fall of 87% compared to last year due to non-cash factors (foreign exchange loss of RUB 21 bn resulting from the revaluation of foreign currency debt). Revenue in Q1 was
BlueRock Achieves Record Output after Lockdown
Johannesburg: British miner BlueRock has reported record output since it re-opened Kareevlei, in South Africa, after COVID-19 restrictions were eased. Production has been averaging almost 2,000 tons a day since 11 May 2020, up almost two-thirds on Q4 of 2019. Modifications to its ore-processing equipment have increased production at minimal cost and reduced operating costs at Kareevlei where five kimberlite
HRD Antwerp Launches Live Online Training Courses
Antwerp: As long as there is no vaccine found for COVID-19, working from home will be the standard. Therefore, access to solid online courses has become more important. As a leading institute for education in the diamond industry, HRD Antwerp (Diamond High Council) launched a series of new courses in the beginning of the international lockdown. These courses were very
GJEPC Donates Rs. 71 Lakh to Rajasthan CM
Jaipur: The Chairman of The Gem & Jewellery Export Promotion Council (GJEPC), Mr. Pramod Kumar Agrawal, handed over a cheque of Rs. 71 Lakh to the Chief Minister of Rajasthan Mr. Ashok Gehlot yesterday to aid the fight against COVID-19 within the state. The amount, which has been allocated from the Council’s Corporate Social Responsibility Fund, will be given to
GJF Announces Day-Long Interactive Workshop ‘Labham’
Mumbai: The All India Gems and Jewellery Trade Federation (GJF) and all major G&J Trade Associations, has announced the first-ever educational ‘Labham’ programme on 1st June 2014 in Rajkot onwards for all jewellers, manufacturers, traders and other constituents of the G&J businesses in and around Rajkot. It will be held in Chennai on 10th June and in New Delhi on
Gold Prices May Decline to Rs 24,000 by Diwali
Mumbai: Following the Reserve Bank easing the 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali as it also expects the Customs duty reduction in the forthcoming Budget, reports The Freepress Journal. “RBI’s easing of 20:80 gold import norms is positive for the gems
CIBJO and Fairtrade International Sign MOU
Moscow, 23rd May: CIBJO and Fairtrade International have signed a Memorandum of Understanding according to which Fairtrade commits to working with CIBJO and its member organizations to improving certified Fairtrade gold supplies to the jewellery markets and members of CIBJO-associated organisations, and CIBJO commits to facilitating and encouraging its members to adopt and integrate fairtrade gold and metals into their
RBI Allows Private Agencies to Import Gold
Mumbai: The Reserve Bank of India (RBI) yesterday eased tough gold import rules by permitting seven more private agencies to import the yellow metal. It is a measure that industry officials say could increase supplies and reduce premiums in the peak wedding season. Gold imports by India, the world’s No. 2 bullion consumer after China, could quickly rise from current
