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The Selloff Deepens, but Demand is Answering: Are Gold-Silver Nearing a Floor?
Macro Snapshot: Two events defined the week ending June 12. On Monday June 9, White House officials indicated that US-Iran nuclear negotiations were making positive progress; oil prices dropped immediately, with WTI crude falling approximately 4% to $87.61 and Brent losing 3.5% to $90.92. Then on Tuesday June 10, the Bureau of Labor Statistics released the May CPI: headline inflation accelerated to 4.2% year-on-year, the highest reading since April 2023, up from 3.8% in April. The monthly increase was 0.5%,
The Selloff Deepens, but Demand is Answering: Are Gold-Silver Nearing a Floor?
Macro Snapshot: Two events defined the week ending June 12. On Monday June 9, White House officials indicated that US-Iran nuclear negotiations were making positive progress; oil prices dropped immediately, with WTI crude falling approximately 4% to $87.61 and Brent losing 3.5% to $90.92. Then on Tuesday June 10, the Bureau of Labor Statistics released the May CPI: headline inflation accelerated to 4.2% year-on-year, the highest reading since April 2023, up from 3.8% in April. The monthly increase was 0.5%,
Top News
GIA to Open Diamond Synthesis Center
Ramat Gan: Speaking at the International Diamond Week in Ramat Gan, Tom Moses, GIA executive vice president, announced that the lab is planning to open a diamond synthesis facility in New Jersey. The facility, which the lab hopes will be operational by January, is planned as a research laboratory where GIA gemologists will be able to investigate different treatments that
Surat Diamond Sector Regains Normalcy
Surat: Due to eruption of violence by Patidar community members on last Wednesday in Surat, the Federation of Surat Textile Traders Association (FOSTTA) and the Surat Diamond Association (SDA) members, were forced to seek the help of police and the paramilitary forces. The Surat police and army personnel brought the city back to normalcy, thus helping the diamond factories and
Botswana’s Deficit May be Wider than Projected
Gaborone: Botswana’s budget deficit for fiscal 2016 may be much wider than the projected 2.6 percent due to the slowdown in the diamond market, credit rating agency Moody’s said on August 27. Earlier, Botswana’s Finance Ministry forecast a deficit of $393 million (4.03 billion pula), or 2.6 percent of its gross domestic product for the fiscal year. Diamonds account for
Alrosa Diamonds worth Millions Disappear
Moscow: Four uncut diamonds have disappeared while being held at the State Precious Metals and Gems Repository (Gokhran) for sorting, Kommersant daily newspaper reported on Thursday, citing unidentified sources in the industry. The precious stones were part of a bigger batch of diamonds submitted to Gokhran by Severalmaz mining company that extracts diamonds at a large mine in the northern
GIA to Open Diamond Synthesis Center
Ramat Gan: Speaking at the International Diamond Week in Ramat Gan, Tom Moses, GIA executive vice president, announced that the lab is planning to open a diamond synthesis facility in New Jersey. The facility, which the lab hopes will be operational by January, is planned as a research laboratory where GIA gemologists will be able to investigate different treatments that
Surat Diamond Sector Regains Normalcy
Surat: Due to eruption of violence by Patidar community members on last Wednesday in Surat, the Federation of Surat Textile Traders Association (FOSTTA) and the Surat Diamond Association (SDA) members, were forced to seek the help of police and the paramilitary forces. The Surat police and army personnel brought the city back to normalcy, thus helping the diamond factories and
Botswana’s Deficit May be Wider than Projected
Gaborone: Botswana’s budget deficit for fiscal 2016 may be much wider than the projected 2.6 percent due to the slowdown in the diamond market, credit rating agency Moody’s said on August 27. Earlier, Botswana’s Finance Ministry forecast a deficit of $393 million (4.03 billion pula), or 2.6 percent of its gross domestic product for the fiscal year. Diamonds account for
Alrosa Diamonds worth Millions Disappear
Moscow: Four uncut diamonds have disappeared while being held at the State Precious Metals and Gems Repository (Gokhran) for sorting, Kommersant daily newspaper reported on Thursday, citing unidentified sources in the industry. The precious stones were part of a bigger batch of diamonds submitted to Gokhran by Severalmaz mining company that extracts diamonds at a large mine in the northern
