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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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Assocham Demands to Postpone GST Implementation
New Delhi: The Associated Chambers of Commerce of India (Assocham) has demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax regime as the IT network is not yet ready. In a letter to Finance Minister Mr. Arun Jaitley, Assocham said existing assessees have not yet migrated to the
Foundation Stone Laid for G&J Institute in Udupi
Udupi: The Gem & Jewellery Export Promotion Council (GJEPC), apex gem & jewellery trade body in India, laid the Foundation Stone for a premier Gem & Jewellery Training Institute today in Udupi. Indian Institute of Gems & Jewellery (IIGJ) is being set up in association with National Institute of Design (NID), Ahmedabad. This training centre shall be amongst the series
Diamond Exploration Vessel Launched in Namibia
Walvis Bay: The world’s largest and most advanced diamond exploration and sampling vessel, the mv SS Nujoma, is ready to start exploring for diamond deposits in Namibian waters, following its official inauguration yesterday. The US$157 million (N$2.3 billion) vessel will enable Debmarine Namibia, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, to
De Beers to Shut Dubai Auction Base
Gaborone: De Beers will close its auction-sales office in Dubai due to declining demand from local companies, the miner has announced, according to a report published in Rapaport News. Operations will cease on July 31, meaning De Beers will no longer display rough diamonds there from the year’s sixth sales cycle onward, the company told clients this week in a
Candere Announces Smriti Mandhana as its New Brand Ambassador
Mumbai: Candere, the lifestyle jewellery brand from the House of Kalyan Jewellers, has announced celebrated Indian cricketer Smriti Mandhana as its new brand ambassador. Joining Shahrukh Khan as the face of the brand, Smriti’s association marks a significant step in Candere’s journey to strengthen its connect with young, modern Indian consumers. One of India’s most accomplished cricketers, Smriti has built
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
