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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
Top News
LMHC Advances in Harmonisation of Colour Description
Lucerne, Switzerland: Significant achievements in the harmonisation of wording on laboratory reports and the reporting of new treatments have been chalked up during the 29th meeting of the Laboratory Manual Harmonisation Committee (LMHC), which was hosted by the Gübelin Gem Lab in Lucerne, Switzerland, on November 14 and 15, 2018. The LMHC is currently comprised of representatives from the Central
WGC Appoints David Tait as Incoming CEO
London: The World Gold Council (WGC), the market development organisation for the gold industry, yesterday announced the appointment of David Tait as incoming Chief Executive Officer. David joins the World Gold Council following a highly successful career in the financial services industry. David was most recently Global Head of Fixed Income Macro Products at Credit Suisse. Prior to that he held senior trading
GJEPC’s 2nd India Gold & Jewellery Summit Concluded
Upscale, upgrade & forge partnerships: Suresh Prabhu GJEPC seeks ease of doing business and reduction of customs duty on gold to 4% New Delhi: The country’s top policy makers, gem & jewellery stakeholders and decision makers got together for the most significant annual gems & jewellery industry summit – India Gold & Jewellery Summit 2018 – organized by The Gem
Forevermark Launches Rac&Stac Collection
Mumbai: One jewellery trend that has never gone out of fashion is stackable rings. Over the years the style has only been experimented with to evolve into a must-have in every woman’s wardrobe. This Christmas, Forevermark is celebrating the holiday spirit by bringing this style back with a fun and stylish collection called Rac&Stac that can be worn from day to night in over 200
China’s Gold Demand to Continue For 20 Years
Beijing: China’s strong appetite for gold is expected to continue for the next 20 years, driven by the country’s increasing per capita income and the global shift of gold consumption from the West to the East, the China Gold Association said. In 2013, China’s gold consumption reached 1,176.4 tonnes, making it the world’s biggest gold consumer. Its consumption in 2014
British MPs Urge to Probe Gold Price-Rigging
London: British Members of Parliament (MPs) have called on the UK’s financial watchdog to investigate allegations of price-rigging in the London gold market after a senior regulatory executive said that there may have been co-ordinated attempts to manipulate a crucial benchmark, Financial Times reports. Members of the influential parliamentary Treasury select committee pressed the Financial Conduct Authority to act after
RBI to Swap Gold to Improve Reserves Quality
Mumbai: The Reserve Bank of India (RBI) said yesterday that it had sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves. The RBI sources said that the measure would “standardize the gold available with RBI in India with respect to international standards” and the gold acquired would
6,000-Gram Gold “Devil’s Ear” Unearthed in Russia
Moscow: Russian miners have unearthed a scary-looking 6,664-gram piece of gold they labeled the “Devil’s Ear” on Friday the 13th. According to the official publication of the local government, workers at the Ukhagan mine in the Bodaybinsky district of Siberia found the piece, the largest nugget ever found in the area, on June 13, the eve of the full moon.
