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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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HRD Antwerp Launches The ID Card
Antwerp: HRD Antwerp, Europe’s leading authority in diamond certification, launched its new ID CARD on the 26th of October 2017 at its HQ in the Antwerp diamond district. “The ID CARD is a highly affordable, new type of grading report for diamonds that weigh between 0.08 and 0.998cts, explains Michel Janssens, CEO of HRD Antwerp. With this new product, we aim
CIBJO Releases Coral Comm's Sp. Report
Milan: With fewer than two weeks to go to the opening of the 2017 CIBJO Congress in Bangkok, Thailand, on November 5, 2017, the eighth and the final of the CIBJO commissions’ Special Reports for this year has been released. Prepared by Vincenzo Liverino, President of the organisation’s Coral Commission, the report calls for an educational campaign to differentiate between
De Beers’ Q3 Production Up by 46%
Gaborone: Anglo American, which today released production figures of its various businesses for the third quarter of 2017, reported that De Beers’ rough diamond production for the period was up 46% over Q3 2016 in carat terms. The increase was “in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the
India's Move to Propel Economic Growth
Bengaluru: Government of India’s announcement to infuse INR 2.11 Lakh Crores into Public Sector Banks (PSB) is a credit positive step for the NPA plagued sector, reports Brickwork Ratings. With this Brickwork Ratings expects PSBs credit profile to improve significantly. The agency believes that this step should be monitored by enforcing strict conditions for banks to optimally utilise the allocated
RBI Allows Private Agencies to Import Gold
Mumbai: The Reserve Bank of India (RBI) yesterday eased tough gold import rules by permitting seven more private agencies to import the yellow metal. It is a measure that industry officials say could increase supplies and reduce premiums in the peak wedding season. Gold imports by India, the world’s No. 2 bullion consumer after China, could quickly rise from current
GJEPC Flays Surat Diamantaires on Bourse Plan
Mumbai, 22nd May: The Gems and Jewellery Export Promotion Council (GJEPC), of India has criticized the move by some diamantaires in Surat to shift their Mumbai operations to the proposed Surat Diamond Bourse (SDB) in Surat, reports The Times of India. GJEPC chairman Vipul Shah said, “It is not the prerogative of 50 diamantaires to decide and win over others
India Raises Import Tariff Value of Gold, Silver
Mumbai: India has raised its import tariff value of gold and silver on Wednesday. Indian government has trimmed its import tariff value of gold from $421 per ten grams to $431 per 10 grams and silver from $644 per kilo gram to $ 646 per kilo gram, said the ministry of finance. Import tariff value is the base price on which
Zimbabwe Diamond Output, Sales Dipped in 2013
Harare: Zimbabwe’s diamond output declined 26.1 percent to 8.9 million carats last year, according to Equity Communications, reports Rough&Polished. The Harare-based research company said in a statement emailed told Rough&Polished that Zimbabwe was the only “major” diamond producer, which experienced a “sharp” decline in production and sales last year. It said diamond production in the Southern African country took a knock
