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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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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
Forevermark Committed to Protect Environment
Mumbai: Forevermark, the diamond brand from the De Beers Group believes what they do every day builds a lifetime of moments that will build your Forever. On International Environment Day, Forevermark reiterates their commitment to protect wildlife and keeping responsible sourcing at the very centre of their business to build a beautiful tomorrow. At the heart of a Forevermark diamond
SSEF Introduces DNA Fingerprinting Technology
Basel: The Swiss Gemmological Institute SSEF is introducing a new service to support the documentation of the origin and provenance of pearls, in partnership with the Institute of Forensic Medicine at the University of Zurich. It is made possible by a substantial expansion of the organisation’s DNA fingerprinting reference database and capabilities, which now include eight oyster species that produce
Hummingbird Resources Joins World Gold Council
London: The World Gold Council (WGC) the market development organisation for the gold industry, has welcomed Hummingbird Resources to its Board of Members. As part of joining the World Gold Council, the company has agreed to adopt and adhere to the Responsible Gold Mining Principles. Hummingbird Resources engages in the exploration, evaluation and development of mineral properties in West Africa with
GJF Expresses Deep Anguish over Union Budget
Mumbai: Indian gems and jewellery Industry is extremely disappointed with the Union Government Budget Proposals as the finance ministry did not consider their plea of reducing the import duty component on gold and also abolish the stringent 80:20 norms. “The union finance minister Mr. Arun Jaitley has ignored the plight of the trade in spite of several representation and meetings
No Solace in Budget for India's Jewellery Sector
Mumbai: India’s Finance Minister Mr. Arun Jaitley has not given any relaxation in his first budget today as far as import duty on gold is concerned, within 45 days of forming of the Narendra Modi government. Mr. Jaitley surprised bullion markets by keeping the import duty on gold and silver unchanged at 10% in his fiscal budget, a move likely
RJC to Hold Session at IIJS Educational Program
Mumbai: The Responsible Jewellery Council (RJC) will be taking part in the educational program of the July 17-21 India International Jewellery Show (IIJS). The program, organized by the Gem & Jewellery Export Promotion Council (GJEPC), and sponsored by Gemological Science International (GSI), will host a series of industry experts during the four day educational series entitled Spectrum Seminar – Innovate
Myanmar Sells $3bn in Gems
Naypyidaw: Myanmar’s annual gem emporium took in more than $3 billion this year, the most ever for the country’s annual sale of gems and jade, organizers said Tuesday. Income reached $3.4 billion and saw the successful auction of 6,007 of 7,454 jade lots, 126 out of 436 gem lots and 224 of the total 342 pearl lots, they said. “This
