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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
RBI Maintains the Lending Rates
Mumbai: For the second time in a row, the Reserve bank of India (RBI) yesterday opted for a status quo in its key rates but shifted the stance of the monetary policy from ‘accommodative’ to ‘neutral’. “The decision of the Monetary Policy Committee (MPC) is consistent with a neutral stance of monetary policy in consonance with the objective of achieving
GJSCI Implements RPL Program in SEEPZ
Mumbai: Under the Pradhan Mantri Kaushal Vikas Yojna (PMKVY- 2), GJSCI commenced another ambitious project called Recognition of Prior Learning (RPL) Program in Seepz. The aim behind this initiative is to uplift the karigars of gems & jewellery industry in India. The event was inaugurated by Shri N.P.S. Monga I.T.S Development Commissioner, SEEPZ-SEZ (Maharashtra, Goa, Daman & Diu), in the
DPA to Scrutinize Synthetic Detection Machines
Mumbai: The Diamond Producers Association (DPA) plans to audit synthetics detectors to help the industry navigate its way around the broad choice of machines available on the market, reports Rapaport. The group is laying the groundwork for an independent laboratory that will test diamond-screening devices currently sold in the market and publish its results to the trade. The marketing body
Rio Tinto Gifts Bunder Project to Govt of MP
Bhopal: Rio Tinto has decided to gift the Bunder diamond project in India to the Government of Madhya Pradesh after a comprehensive review. In August 2016, Rio Tinto announced it would not proceed with the development of Bunder due to commercial considerations and would be seeking to close all project infrastructure. Under a Government of Madhya Pradesh order signed in
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
