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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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Reliance Jewels Celebrates 11th Anniversary
Mumbai: Reliance Jewels celebrated its 11th anniversary. As a token of Gratitude towards their patrons & their love over the last 11 years, the brand has launched an exquisite designer jewellery collection- ‘Aabhar’- To You With Gratitude. This collection is inspired by the diversity in Nature, such as beautiful sunrises and sunsets, trees, and above all Flowers, as they are the best way
Raesh Exports Registers Growth in Q1
(By Eveluate Research) Bangalore: Rajesh Exports reported solid earnings for the first quarter ended in June 2018 of Rs.13.52 per share, representing a growth of 34.5% on a YoY basis and 14% above our estimates. Similarly, EBITDA for the quarter came in at Rs.5,780.8 mn, growing by 29.8% YoY. Revenue for the quarter, however, was down by about 13% mainly
WHP Opens Showroom in Boisar
Mumai: Waman Hari Pethe (WHP) Jewellers broadened its horizons with the launch of 24th WHP Outlet in Boisar. The store was inaugurated on 15th August 2018 in presence of Mr. Aditya Pethe, Director, WHP Jewellers along with Mr. Subhash Pethe and Mr. Ulhas Pethe. Established by Late. Mr. Waman Hari Pethe and Late Mr. Ganesh Hari Pethe in 1909, the jewellery
Impact on Jewellery Market of Generation Z: CIBJO
Milan: The first of the CIBJO commissions’ Special Reports has been released ahead of the 2018 CIBJO Congress in Bogotá, Colombia in October. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report considers the potential impact on the jewelry market of Generation Z, which includes people born after 1996, who are expected to account for
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.
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
