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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
5% VAT in UAE to Hurt India’s Exports: GJEPC
Mumbai: Starting January 1, the UAE (United Arab Emirates) will impose a 5% VAT on most goods and services, including rough and polished diamonds and gold. Now, Praveen Shankar Pandya, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) says that the tax will hurt gold jewelry exports from India as the UAE is one of the major buyers
Nilesh Sheth is New President of IDCA
The Board of Directors of the Indian Diamond and Colorstone Association (IDCA) is pleased to announce Nilesh Sheth of Nice Diamonds was elected as the new President of Association and Shailesh Jhalani of Prompt Gem Importers Inc. was elected for the Vice-President’s role at their meeting held on December 11. Joining the IDCA Board’s Executive Committee are Shrenil Bhansali of
Aisshpra Gems & Jewels Bags New Award
Jaipur: Aisshpra Gems & Jewels was awarded as the ”Temple Jewellery of The Year’ for its intricate craftsmanship at JJS-IJ Jewellers Choice Awards 2017, a platform which recognises and promotes talent and creativity of the most celebrated retail jewellery brands in the industry by felicitating them. The award was received by Mr. Atul Saraf, Director, Aisshpra Gems & Jewels at the
ALROSA to Hold Auction of Special Size Rough
Moscow: ALROSA is planning to hold 30 international auctions for the sale of special size natural rough diamonds over 10.8 carats next year. Two auctions will be held in New York where ALROSA’s trade office will resume its full-scale operation. Five auctions will be held in the first quarter, 10 in second quarter, six in the third quarter, and nine
Fresh Diamond Looting Spree in Marange
Harare: Observers have reported a fresh diamond looting spree, with security and army chiefs said to be working hand in glove with senior mining companies’ staff in the scam. Reports said the swindle is being spurred on by panic among mining staff members who are not sure of their fate following a government announcement that it will streamline diamond mining
GJEPC Launches New Business Development and Marketing Campaign
Las Vegas, 31st May: The Gem & Jewellery Export Promotion Council (GJEPC) of India announced a major, new, multi-level business development campaign at a news conference focused on the U.S., Canadian and South American markets. The purpose of the campaign is to re-invigorate, strengthen and expand GJEPC’s business development efforts and build trusted relationships between India’s key jewelry industry companies
Overseas Traders Invited to Buy Offices in SDB
Surat, 30th May: After Mumbai, now Surat diamantaires are inviting diamond traders from abroad to set up offices at the proposed Surat Diamond Bourse (SDB) here. Road Shows are being organized at Antwerp, Dubai, Hong Kong, China, UAE and Europe, to impress upon diamond traders to buy office space at the proposed diamond bourse, according to a report in The
Demand for Indian Gold Jewellery to Rise
Mumbai: India’s gems and jewellery exporters are set to shine brighter than domestic retailers. Positive signs from export destinations such as higher disposable income and consumer spending as well as improvements in consumer confidence is set to support export volumes of gems and jewellery, maintain analysts. An economic recovery is also set to benefit exporters, reports Mineweb.com. Indian exporters are
