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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
Victor Mine to Close Down in Q1 2019
De Beers Group has announced that its Victor mine in northern Ontario, Canada, will complete mining and production activities in the first quarter of 2019, once the current open pit is depleted and in line with the original feasibility study and current mine plan. Production at Victor mine commenced in July 2008. The mine was forecast to produce six million
GJEPC to Set up CFC at Thrissur, Kerala
Mumbai: The Chairman of India’s Gem & Jewellery Export Prpmotion Council (GJPEC) Mr. Praveenshankar Pandya, during his recent visit to Kerala to inaugurate the Kerala Jewellery show, announced to set up Common Facility Center (CFC) at Thrissur, Kerala. CFC in this region would give a huge boost in production and quality of manufacturing jewellery by giving access of modern machines
Gem Experts to Join World Ruby Forum
Bangkok: Gem and jewelry experts from across the globe will gather to attend the World Ruby Forum 2017 in Bangkok, Thailand to share their insights on world ruby activities in all dimensions from upstream to downstream. GIT director states that the organization will develop and implement strategies to establish Thailand as the global gem and jewelry trading hub by 2021.
Construction of Surat DB Begins
Surat: Construction work for the Surat Diamond Bourse (SDB) commenced on 25 Oct with the office-bearers of SDB Diamond Bourse, a company floated for the bourse development participating in the foundation laying ceremony, reports The Times of India. The SDB Diamond Bourse has awarded the $237mn contract to the Ahmedabad-based PSP Projects Pvt Ltd for constructing the world’s largest diamond
Indias Silver Jewellery Exports Double
Mumbai: A shortage of gold as a raw material and the consequent decline in gold jewellery exports appears to have opened up new avenues of growth for silver jewellery in India, reports Mineweb. Indias silver jewellery exports rose 45.33% to $84.1 million in February 2014, and jumped 89% in the 11-month period to $1.35 billion, according to data from the Gem
AGL Celebrates Five Years under New Management
New York, 15th April: American Gemological Laboratories (AGL), a provider of high-quality gemstone analysis and reporting is celebrating its five-year anniversary under the stewardship of Christopher P. Smith. “Five years ago, AGL was re-privatized during one of the most difficult periods the US and world financial markets have experienced in recent decades. AGL, however, had a good reputation and we did
Gold Smuggling Arrests Jump 750% YoY in India
Mumbai, 14th April: While cases of gold smuggling in India have jumped 265% from 40 in 2012-13 to 146 in 2013-14, the number of people arrested has shot up by 750%, from 30 in 2012-13 to 255 in 2013-14, data from the Directorate of Revenue Intelligence shows, according to a report published in Mineweb. “Gold imports through the legal channel have
