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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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De Beers Group Donates for Women's Cause
Gaborone: De Beers Group yesterday announced a $200,000 donation across its four producer partner countries of Botswana, Canada, Namibia and South Africa to assist women’s shelters and support organisations to respond to an increase in gender-based violence resulting from the COVID-19 situation. The donation will be split equally across Botswana, Canada, Namibia and South Africa. It adds to the contributions
India's Diamond Exports may Fall to Lowest in Decade
Mumbai: India’s diamond polishing revenue is set to plunge next year from $24bn in 2019 to as little as $13bn in fiscal 2021, according to the latest forecasts. That’s a drop of almost half to the lowest level in a decade. Exports to the US and Europe – over 45 per cent of India’s market – fell 41 per cent year-on-year in February as the coronavirus pandemic intensified, according to Crisil Ratings,
Bharat Diamond Week [BDW] Goes Digital
Mumbai: The organizing committee of Bharat Diamond Week [BDW], world’s foremost ‘only diamond show’ decided that the BDW will go Digital. The decision was taken by the committee over an online meeting yesterday. The Bharat Diamond Week in its 4th edition was slated to be orgnaised during the first week of August 2020. Looking at the unprecedented events that are
Father of Saurabh Gadgil Passes Away
Pune: Shri Vidyadhar Anant Gadgil, father of PNG Jewellers chairman and managing director, Mr. Saurabh Gadgil left for heavenly abode after a prolonged illness in Pune. Shri Vidyadhar Gadgil was the son of Maharashtra thespian and founder of PNG Jewellers, Shri Daji kaka Gadgil. Born on 18th October 1947, Vidyadhar Gadgil was a director with PNG Jewellers since the 1970s. He lived
Okavango Diamond Co. Appoints Yoram Dvash as Chairperson
Gaborone: Botswana’s state-owned rough diamond marketing firm, Okavango Diamond Company (ODC), has appointed former World Federation of Diamond Bourses (WFDB) president Yoram Dvash as chairperson of its board of directors. Dvash succeeds Gape Kaboyakgosi, who stepped down in November after leading the board for five years. Dvash brings deep industry leadership to the role, having headed the WFDB from 2020
Qatar Diamond Exchange Signs Strategic MoUs
The Qatar Diamond Exchange (QDE) has signed Memoranda of Understanding (MoUs) with the Diamond Exchange of Singapore, the Shanghai Diamond Exchange and the Tokyo Diamond Exchange during the 41st World Diamond Congress in Singapore. The agreements reflect QDE’s strategic focus on developing closer relationships with established diamond markets across Asia and creating new opportunities for trade and cooperation between Qatar
IDMA Mourns Passing of Vasant Mehta
Antwerp: The board and members of the International Diamond Manufacturers Association (IDMA) deeply mourn the passing of one of the global diamond industry’s and trade’s leaders and mentors, Mr. Vasant Mehta, who passed away earlier this week at the age of 81. Vasant served as IDMA’s Vice President from 1998-2000 and then from 2002-2008, on behalf of the Gem &
Shaping the Roadmap for India’s $100 Bln. G&J Future
Mumbai: Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), yesterday convened the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, a high-level dialogue aimed at developing a comprehensive strategy to help India achieve its ambition of USD 100 billion in gems and jewellery (G&J) exports by 2040. The roadmap envisages an increase in
