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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
IIDGR Surat Lab Installs Solar Roof
Surat: The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, has installed a 34.8 kilowatt solar roof at its grading and inscription facility in Surat, India, to provide the operation with a renewable energy supply. Generating an average of 56,000 units of electricity each year, the solar plant will reduce the heat load of the
Aisshpra Gems & Jewels Wins ET NOW ‘Distinction’
Mumbai: Luxury Jewellery brand, Aisshpra Gems & Jewels wins the ‘Retail Transformation of the Year 2018 Award’ at ET NOW Global Awards for Retail Excellence held in Mumbai. The coveted award was presented to Mr Atul Saraf, Director, Aisshpra Gems *Jewels accompanied by Mr Vaibhav Saraf, Director, Aisshpra Gems & Jewels at the hands of Retail Veteran, Mr Biju Kurien
Anantha Padmanaban Elected as VC of GJF
Mumbai: The All India Gems & Jewellery Trade Federation (GJF) has unanimously elected Mr. Anantha Padmanaban as its Vice Chairman. He is currently Zonal Chairman – South and he is the Managing Director of NAC Jewellers, Chennai. Welcoming his appointment, Mr. Nitin Khandelwal, Chairman, said “I am pleased that Mr. Anantha Padmanaban has been unanimously elected as the Vice Chairman
Signature IIJS Ended with Positive Note
Mumbai: The Signature IIJS 2018 closed yesterday with positive note. The show unveiled the most coveted premium jewellery and jump-started the new buying season from 9th – 12th February, 2018 at Bombay Exhibition Centre. The event hosted more than 670 exhibitors and 1,500 plus stalls and attracted 16,000 visitors from pan India and more than 55 countries. Buyer delegations were
China’s Jewellery Sales Accounted for 41%
Beijing: Mainland China is a major jewellery consumer in the world. According to the recently released China Jewellery Industry Report, 2013-2016, last year jewellery sales in Chinese Mainland approximated $75.8 billion, which is equivalent to 41.2 % of the global consumption. In Mainland China, the gold jewelry consumption accounts for about 50% of the total jewellery consumption. In 2013, two
Gold Smuggling in India May Fall to 50 Tonnes
Mumbai: Going by the seizures of gold which has increased four times in 2013-14, intelligence agencies have estimated gold smuggled in the country around 50 tonnes in 2013-14 which is way lower from the estimated by the World Gold Council (WGC), reports The Business Standard. WGC had estimated nearly 200 tonnes of gold entered India unofficially. Trade circles have been
India May not fully Withdraw Gold Curbs
New Delhi: Despite a significant reduction in the current account deficit, curbs on gold imports are unlikely to be fully removed this Budget. Instead, the finance ministry may lower the import duty on the precious metal by two per cent, reports The Indian Express. “The current account deficit situation is still being closely monitored. The curb on gold imports was
Gujarat Govt. Assures Help for Diamond Bourse
Surat: As the prices of realty in Vesu and Dumas areas have skyrocketed following the announcement of proposed diamond bourse, diamantaires spearheading the movement for a world-class diamond bourse in the city have started lobbying with the state government for land, reports The Times of India. Members of Surat Diamond Bourse (SDB) committee, which includes chairman of leading diamond companies
