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Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
Why Did Gold & Silver Break Down Just as Fed Hike Bets Faded
Macro Snapshot: The rate backdrop eased during the week ending 23 October, which makes the metals’ slide harder to explain. CME FedWatch odds of a hike at the 27 to 28 October FOMC meeting had settled near one in three on 14 October, after the 3.7% September CPI print, and stood at 9.4% by 23 October. December hike odds slipped from about 90% to close to 80%. The 10-year Treasury yield closed at 5.00% against 5.09% a week earlier, and
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WGC Launches ‘It’s Aaj ka Gold’ Campaign
Mumbai: The World Gold Council (WGC) recently announced the launch of its first India-focussed gold ETF campaign, built around the powerful core message ‘It’s Aaj Ka Gold’ (means ‘Today’s gold). The campaign is aimed at modernizing gold investment for the nation’s digital-savvy young investors. The campaign aims to address the awareness–action gap and reinforce the accessibility, liquidity and strategic relevance
GJSCI’s Initiative on Tribal Youth Empowerment
Mumbai: The Shrimad Rajchandra Skill Development Centre, set up in partnership with the Gem & Jewellery Skill Council of India (GJSCI) in September 2022, is helping tribal youth in Dharampur, Valsad, in southern Gujarat build sustainable careers in the gem and jewellery sector. The centre offers training in jewellery CAD design, a key skill in modern jewellery manufacturing. Supported by
Zen Diamond Opens Store in Chandigarh
Chandigarh: Zen Diamond continues to expand its presence in India with the opening of its latest boutique at Nexus Elante Mall, Chandigarh. After establishing a strong foothold in Mumbai with stores in Bandra and Borivali, and further strengthening its presence in Bengaluru with two stores, Zen Diamond now brings its hallmark of exquisite craftsmanship and modern design to North India.
Rio Tinto Concludes Its Final Beyond Rare Tender
Perth: Rio Tinto has brought its celebrated Beyond Rare Tender series to a close, presenting 52 lots of exceptional fancy colour diamonds sourced from its Australian and Canadian mines. Titled “Into The Light,” the event was the third and final edition in Rio Tinto’s annual Art Series. With the Argyle Diamond Mine having ceased operations in 2020 and the Diavik
India Gives Major Relaxation under GMS
Mumbai: In a major relaxation in gold deposit scheme, the Reserve Bank of India (RBI) yesterday allowed banks to redeem gold deposited under the scheme in form of gold when deposit is for medium or long term. This was a major demand from temple boards. So far the provision of redeeming gold deposits under the scheme in form of gold
AWDC Launches Antwerp Diamond Experience
Antwerp: For the past three days a delegation of leading jewelers and diamond traders from Kuwait have been getting acquainted with their counterparts in Antwerp, enjoying a behind-the-scenes look at the diamond capital and doing business at high-level networking events. The visit from the up-and-coming diamond market of Kuwait – long a major player in the pearl, gold and gemstone
KP Warns of Fake Certificate from Cameroon
Dubai: The United Arab Emirates received a shipment from Cameroon, which was declared to the UAE Customs. Upon inspection they noticed that the Kimberley Process (KP) Certificate accompanying the shipment was fake. Cameroon authorities confirmed this. The document was uploaded on the restricted side of the KP website as well. The KP has therefore called on all its members to
Chow Tai Fook to Sell Diapers and Cookies
Beijing: China’s largest jewelry retail chain, Chow Tai Fook, is spreading its wings further afield and is aiming to expand more broadly into retail in a bid to capture some of the business of Chinese retail giant Alibaba and other Internet retailers. It invested $54 million in shopping platform CTFHOKO.com in December and a mall to showcase products sold online,
