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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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India’s G&J Industry Welcomes GST Rate at 3%
Mumbai: All India Gems & Jewellery Trade Federation (GJF) highly appreciated the Government’s decision to fix the Goods and Services Tax (GST) at 3% for the Jewellery trade and industry. Expressing his satisfaction, Mr. Nitin Khandelwal, Chairman, GJF said, “This is a landmark day for the jewellery sector as the Government rightly kept the overall tax burden low in the
GST on Gold, Silver, Diamonds Fixed at 3 Per Cent
New Delhi: Gold and silver in India will be taxed at 3 per cent under the Goods and Services Tax (GST) regime, the Finance Ministry Mr. Arun Jailtley announced after a meeting of the GST Council on Saturday. Addressing the press after a meeting that saw the council clear six pending tax rates, Finance Minister Arun Jaitley said the central government
US Diamond Jewellery Demand Hits $41 Billion High
New York: Total diamond jewellery demand from US consumers increased 4.4 per cent in 2016 to exceed US$40 billion for the first time, according to industry insight data published yesterday by De Beers Group. While slower US GDP growth in the first quarter of 2017 is likely to have impacted diamond jewellery demand in the short term, the US has
Caratlane Opens Its Store in Bengaluru
Bengaluru: CaratLane, India’s leading omni-channel jeweller has opened its 3rd store in Bengaluru, at Mantri Square Mall. For a brand that’s on a mission to democratise access to jewellery, this store launch, the 18th in the country, is another step forward in expanding its retail footprint and making its jewellery more accessible. Situated at one of the largest shopping destinations
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
