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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
Albert Milton Appointed MD of Debswana Diamond Co.
Gaborone: Debswana Diamond Company today announced that Managing Director Mr. Balisi Bonyongo will retire from the business with effect from 30 November 2018, following 26 years of dedicated service to the organisation. The Shareholders of Debswana have appointed Mr. Albert Milton, currently General Manager of Jwaneng Mine, to take over as the Company’s Managing Director with effect from 1 December
Precious Metals Assay & Training Institute Launched
Mumbai: The World Gold Council (WGC) and MMTC-PAMP India Pvt. Ltd. have jointly launched the ‘Precious Metals Assay and Training Institute’ (PMATI) to develop a new generation of skilled assayers. The initiative is a world class training facility that will establish assaying as a certified qualification and career in India, and will directly enhance the integrity of gold and the standardisation of best
Diavik Diamond Mine Honoured as Industry Leader
Yellowknife: Diavik Diamond Mine has been awarded the Northwest Territories Mining and Exploration (MAX) Special Achievement Award for the design, construction and operations of its dikes and its contribution as a joint venture partner to the Tibbitt to Contwoyto Winter Ice Road. The NWT MAX awards are a partnership between the NWT & Nunavut Chamber of Mines and the GNWT’s
The 5,655 Carat ‘Lion Emerald’ Sold in Auction
Singapore: Gemfields announced the results of an auction of higher quality rough emeralds held in Singapore from 14 – 17 Nov 2018. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in
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.
