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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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Reena Ahluwalia Collaborates with Aaron Shum
Hong Kong: Canadian jewellery designer and painter Ms. Reena Ahluwalia has collaborated with Hong Kong-based Aaron Shum Jewelry, which headlines its brand with its patented Coronet diamond-set jewellery, to unveil a painting of a Coronet piece on September 15 at the Hong Kong Jewellery show. Aaron Shum is delighted to collaborate with acclaimed jewelry designer and diamond painter Reena Ahluwalia
Somnath Trust to Deposit 6 Kg. Gold under GMS
New Delhi: The Somnath Trust, which met here on Saturday, decided to deposit about 6 kg. gold under the government’s Gold Monetization Scheme (GMS), reports Financial Express. “Glad that Somnath Trust decided to deposit about 6 kg gold under Gold Monetization Scheme of Government of India,” Prime Minister Narendra Modi, who attended the meeting, tweeted. The Board of Trustees met
Platinum Deficit to Widen This Year
Johannesburg: Declining investment by platinum producers in South Africa, the world’s largest supplier, has begun to weigh on supply of the metal used for investment as well as jewellery and autocatalytic converters, new data shows. The World Platinum Investment Council (WPIC) recently released data that showed show a market deficit of 520 000 ounces for 2016, from 455 000 ounces
Lucapa Finds 38.6-Carat Pink Diamond from Lulo
Luanda: Australian explorer, the Lucapa Diamond Company, has discovered another multi-million dollar, pink diamond at its Lulo project in Angola. The 38.6-carat stone is the largest colored diamond recovered to date from Lulo, handily beating the 28.5-carat light pink diamond the company sold earlier this week. That stone was sold in a parcel of other diamonds for a total of
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
