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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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IBJA Wishes 'Select' Hallmarking of Silver
Mumbai: India Bullion & Jewellers Association (IBJA) is writing to the consumer affairs ministry about allowing hallmarking in silver of only certain purity, as in gold, to prevent customers from being duped by wily silver jewellers and dealers. “Ignorance among silver buyers is great and that’s being used to the hilt by certain unscrupulous elements within the trade,” said Surendra
GJEPC Delegation Meets Commerce Minister
Mumbai: A delegation of The Gem & Jewellery Export Promotion Council’s (GJEPC) Southern Region met India’s Minister of State for Commerce & Industry Smt. Nirmala Sitharaman, while the Minister was on a visit to Mangaluru recently. The meeting was held to explore ways and means of further developing the gems and jewellery industry in the region. During the discussion, the
Signature IIJS to Run Alongside WFDB Meet
Mumbai: The Signature IIJS jewellery show will take place in Mumbai from February 6 to 9, coinciding with the World Federation of Diamond Bourses (WFDB) presidents’ meeting. The 10th edition of Signature IIJS will be held at the Bombay Exhibition Centre in Goregaon, a suburb of Mumbai. More than 550 exhibitors and 13,000 visitors are expected to attend, India’s Gem
Negative Outlook for Gold in 2017
Mumbai: Total holdings in physically-backed gold exchange-traded products (ETPs) stood at 2,142.4t (68.9 moz) at the end of December, down 96.9 t or 4% drop from November, the World Gold Council (WGC) has reported. In value terms, total holdings stood at US$78.9bn, 7% lower than the earlier month, WGC said, adding that it remains negative on gold for 2017. Giving
New Device Grades Fancy Colored Diamonds
London: A new device can color-grade both fancy colored diamonds as well as diamonds with secondary hues, says a release from manufacturer ImaGem. The device uses data from thousands of samples to derive its grades for fancy colored stones, says Dr. Lalit K. Aggarwal, chairman of ImaGem, which manufactures the device. The device, called the GL3200, can “identify which stones
WDC Warns against Trading Diamonds with CAR
New York: The World Diamond Council has issued a warning that, despite the Administrative Decision of the Kimberley Process of May 23, 2013, which ordered the temporary suspension of trading in diamonds from the Central African Republic (CAR), production of diamonds in that country is continuing and there is evidence of diamonds from the CAR reaching the markets. The WDC
Entries Invited for Artisan Awards
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has been recognizing and rewarding the best in jewellery design. The Artisan celebrates the highest levels of artistry, innovation and individuality, elevating jewellery designers to their rightful status of artists. The Artisan jewellery Design Awards 2014 invites India’s finest jewellery designers to push their design boundaries and reveal their utmost creativity
GJF Asks Finmin to Rationalize Duty
New Delhi: The All India Gems and Jewellery Trade Federation (GJF) has asked the government to at least double the gap between the import duties on raw gold and finished product to protect domestic manufacturers stressed by various curbs on raw material sourcing from overseas. In a meeting with the finance minister, senior executives of the association demanded the government
