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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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Bharat Diamond Week Getting Good Response
Mumbai: The Bharat Diamond Bourse (BDB) in Mumbai says more than 300 visitors from India and overseas have already registered for the second edition of the Bharat Diamond Week at the bourse, to take place from October 8-10. Hundreds more buyers are expected to register in the countdown to the expanded polished diamond fair. The inaugural show, held from April
De Beers Completes Acquisition of Peregrine Diamonds
Toronto: De Beers Group announced the completion of the previously announced Plan of Arrangement pursuant to which De Beers Canada has acquired all of the outstanding securities of Peregrine Diamonds Ltd (“Peregrine”) at a purchase price of C$0.24 per share, for a total cash consideration of C$107 million. The acquisition includes the high quality Chidliak diamond resource located in Canada’s
Largest Fancy Purplish Red Diamond by Rio Tinto
Mumbai: Rio Tinto’s iconic Argyle Pink Diamonds Tender is being showcased to connoisseurs and collectors from across Asia in Hong Kong. Headlining the 2018 collection of 63 pink, red and violet diamonds is The Argyle Muse™, a 2.28 carat polished oval diamond, the largest purplish red diamond ever offered at Tender. With an unrivalled potency of colour The Argyle Muse™
94 Indian Cos Participating in HK Jewellery & Gem Fair
Mumbai: India Pavilion at the September Hong Kong Jewellery & Gem Fair, would be represented by 94 leading Indian manufacturers/exhibitors showcasing their strength and skill in manufacturing world class gems and jewellery. Hong Kong has been the largest export market for the Indian Gem & Jewellery industry, and this platform has provided the requisite opportunity to take its exports further over the
India May Increase Duty on Synthetics to 10%
New Delhi: The government may increase the import duty on man-made diamonds to 10 per cent in order to remove the price differential with natural diamonds which encourages some jewellers to “cheat the customers”, reports The Indian Express. Simultaneously, it could abolish the customs duty on cut and polished gem stones as these can be re-exported at higher value. The
Pre-Budget Recommendations by GJF
Mumbai: The All India Gems and Jewellery Trade Federation (GJF), the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) sector across India, has urged Union Finance Minister Shri Arun Jaitley to abolish 80:20 rule for gold import, which allows only the nominated agencies to import gold on the condition that 20 per cent
"Be Sensitive To Festival Dates": WFDB
Antwerp: The World Federation of Diamond Bourses (WFDB) is calling on international trade fair organizers to “be sensitive to dates” when scheduling events so they don’t fall on religious festivals and thus prevent some industry members from taking part. “The fast expanding number of trade shows and exhibitions held across the world has often been scheduled in such a way
AGS Launches Virtual Guild
New York: The American Gem Society (AGS) has launched a virtual guild, which is open to all members of the trade. The first GoTo Guilds meeting will be a presentation by Peter Yantzer, executive director of AGS Laboratories, on “Light Performance 101,” an in-depth primer on the American Gem Society’s Light Performance Cut Grade on July 8. “Originally, the intention
