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Hawkish Fed Comments on Inflation Landed Right at Both Metals’ Supply Zones, and the Correction Wrote Itself
Macro Snapshot: The correction in gold and silver during the week ending August 28 was a confluence event. Both metals had rallied into well-defined supply zones (gold at ₹162,000-164,000, silver at ₹244,000-248,000) and were showing early signs of exhaustion. Into that setup, the July PCE release on August 26 came in hot on the headline (3.7% year over year against 3.6% consensus), and Federal Reserve Chair Kevin Warsh’s August 28 Jackson Hole address leaned decisively hawkish on inflation. The trigger
Hawkish Fed Comments on Inflation Landed Right at Both Metals’ Supply Zones, and the Correction Wrote Itself
Macro Snapshot: The correction in gold and silver during the week ending August 28 was a confluence event. Both metals had rallied into well-defined supply zones (gold at ₹162,000-164,000, silver at ₹244,000-248,000) and were showing early signs of exhaustion. Into that setup, the July PCE release on August 26 came in hot on the headline (3.7% year over year against 3.6% consensus), and Federal Reserve Chair Kevin Warsh’s August 28 Jackson Hole address leaned decisively hawkish on inflation. The trigger
Top News
Gold Demand Falls 12% in Q2 2015: WGC
Chennai: The World Gold Council’s (WGC) Gold Demand Trends report for Q2 2015 shows total demand was 915 tonnes (t), a fall of 12% compared to the same period last year, due mainly to a decline in demand from consumers in India and China. However, demand in Europe and the US grew, driven by a mixture of increasingly confident jewellery
Drones to Prevent ‘Conflict Diamond’ Operations
Conakry: One of the more interesting uses of drones is a partnership between the United States Agency for International Development (USAID) and US Geological Survey (USGS). Since June 2014, they have helped support the Kimberley Process (KP) by using camera-equipped drones to survey the mines, create 3D models of the operations, and keep track of small scale diamond mining sites
Big Layoffs in Botswana Cutting Industry
Gaborone: The massive retrenchments in the domestic diamond cutting and polishing industry continues unabated as companies reel from the effects of high rough prices and lack of liquidity, reports BusinessWeek. Local cutting and polishing company Diacore has retrenched 50 employees taking the total number of affected workers in the industry to around 1,000 in the past year. At its peak,
Platinum Presents Our Everlasting Love
Mumbai: Platinum Guild International gives couples a unique opportunity to capture their journey of everlasting love through a personalized video. Love is at the heart of every platinum jewellery; as it symbolizes everlasting love. PGI along with Maxus India has created an exclusive microsite – www.oureverlastinglove.in – wherein couples can create montage of special moments they share which makes their
Gold Demand Falls 12% in Q2 2015: WGC
Chennai: The World Gold Council’s (WGC) Gold Demand Trends report for Q2 2015 shows total demand was 915 tonnes (t), a fall of 12% compared to the same period last year, due mainly to a decline in demand from consumers in India and China. However, demand in Europe and the US grew, driven by a mixture of increasingly confident jewellery
Drones to Prevent ‘Conflict Diamond’ Operations
Conakry: One of the more interesting uses of drones is a partnership between the United States Agency for International Development (USAID) and US Geological Survey (USGS). Since June 2014, they have helped support the Kimberley Process (KP) by using camera-equipped drones to survey the mines, create 3D models of the operations, and keep track of small scale diamond mining sites
Big Layoffs in Botswana Cutting Industry
Gaborone: The massive retrenchments in the domestic diamond cutting and polishing industry continues unabated as companies reel from the effects of high rough prices and lack of liquidity, reports BusinessWeek. Local cutting and polishing company Diacore has retrenched 50 employees taking the total number of affected workers in the industry to around 1,000 in the past year. At its peak,
Platinum Presents Our Everlasting Love
Mumbai: Platinum Guild International gives couples a unique opportunity to capture their journey of everlasting love through a personalized video. Love is at the heart of every platinum jewellery; as it symbolizes everlasting love. PGI along with Maxus India has created an exclusive microsite – www.oureverlastinglove.in – wherein couples can create montage of special moments they share which makes their
