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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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India’s Diamond Exports Suffer Heavy Fall in Feb
Mumbai: India’s gross exports of cut and polished diamonds (CPD) have gone down heavily by more than 40% in February 2020 because of the Covid-19 pandemic. Totals were down from $2.34bn in February 2019 to $1.38bn for this February, according to The Gem & Jewellery Export Promotion Council (GJEPC). But exports of gold jewelry were up, as were overseas sales
KP to Hold Virtual Intersessional Conference
Moscow: The Kimberley Process (KP) Intersessional Meeting will be organised as a virtual conference this year, as a precaution against the coronavirus pandemic. The annual forum, in which member states, civil societies and the diamond industry come together, was scheduled to take place in Moscow from June 8 to 12. “COVID-19 is a global challenge without parallel in our living
GJEPC Held Seminar on “Vivad Se Vishwas” Scheme
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) organized an interactive session on “Vivad Se Vishwas“ recently at the Convention Hall, Bharat Diamond Bourse, Bandra, Mumbai. The purpose of the session was to impart information to members about various facets of this scheme, which was announced during Budget 2020-21. Mr. Anil Kumar, Principal Commissioner of Income Tax; Mr. Rakesh
Sriram Natarajan to Become MD, GIA India
Mumbai: Ms. Nirupa Bhatt announced her transition from her full-time position as managing director of GIA India Laboratory Pvt. Ltd. (“GIA India”), effective June 15. In her role as managing director, Bhatt oversaw the successful 10-year expansion of GIA India. “I intend to transition from my current operational role as managing director of GIA India to a consulting advisory position
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
Russia to Levy 8% Duty on Rough from Sep.
Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026. The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing. Russia had
