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The 200-Day Test: Where the Bull Case for Gold and Silver Goes on Trial
Macro Snapshot: The week ending June 26 extended the precious metals selloff to a fifth consecutive week and pushed both gold and silver into the most important long-term technical zone of the broader uptrend: the 200-day exponential moving average. Three macro forces drove the decline, and they did so simultaneously. First, the US-Iran 60-day peace roadmap, formally signed in Switzerland on June 17, continued to remove the geopolitical risk premium that had supported the metals since the February conflict began.
The 200-Day Test: Where the Bull Case for Gold and Silver Goes on Trial
Macro Snapshot: The week ending June 26 extended the precious metals selloff to a fifth consecutive week and pushed both gold and silver into the most important long-term technical zone of the broader uptrend: the 200-day exponential moving average. Three macro forces drove the decline, and they did so simultaneously. First, the US-Iran 60-day peace roadmap, formally signed in Switzerland on June 17, continued to remove the geopolitical risk premium that had supported the metals since the February conflict began.
Top News
Rough, Polished Diamond Prices Mismatch
Gaborone: Botswana minister said the current mismatch in rough and polished diamond prices has resulted in weak demand for gems. The country’s Ministry of minerals, energy and water resources Onkokame Kitso Mokaila told delegates at the annual Botswana Resource Sector Conference in the capital, Gaborone that the downstream diamond sector had been recording squeezed margins. Diamond cutter Teemane manufacturing indicated
Antwerp Reveals Very Little About Carat Tax
Antwerp: During the course of the past couple of months many theories have emerged about Belgium’s pending “Carat Tax.” This new fiscal law, which if approved by the European Commission, would tax diamond firms’ turnover at 0.55 percent rather than taxing profit, as is the case now, and, so surmises local diamond leaders, create a more level financial playing field
Debswana Not Worried About Synthetic Diamonds
Gaborone: Debswana, which is a joint venture between the diamond giant De Beers and the Government of Botswana, said it is not worried about the growth of lab-developed diamonds, also referred to as synthetics. Company managing director Balisi Bonyongo told a resource conference in Gaborone that although it was normal for any business to get worried about emetrging substitution of
New Kimberlites Expected by Year-End
Gaborone: Botswana Diamonds, which had been using Alrosa technology to discover new kimberlites in the southern African country’s region of Orapa, said a new diamondiferous kimberlite will likely be discovered by year-end. “They (Alrosa) believe explicitly that they can find a diamondiferous kimberlite and their analysis indicates that they will find a diamondiferous kimberlite by Christmas,” company chairperson John Teeling
Rough, Polished Diamond Prices Mismatch
Gaborone: Botswana minister said the current mismatch in rough and polished diamond prices has resulted in weak demand for gems. The country’s Ministry of minerals, energy and water resources Onkokame Kitso Mokaila told delegates at the annual Botswana Resource Sector Conference in the capital, Gaborone that the downstream diamond sector had been recording squeezed margins. Diamond cutter Teemane manufacturing indicated
Antwerp Reveals Very Little About Carat Tax
Antwerp: During the course of the past couple of months many theories have emerged about Belgium’s pending “Carat Tax.” This new fiscal law, which if approved by the European Commission, would tax diamond firms’ turnover at 0.55 percent rather than taxing profit, as is the case now, and, so surmises local diamond leaders, create a more level financial playing field
Debswana Not Worried About Synthetic Diamonds
Gaborone: Debswana, which is a joint venture between the diamond giant De Beers and the Government of Botswana, said it is not worried about the growth of lab-developed diamonds, also referred to as synthetics. Company managing director Balisi Bonyongo told a resource conference in Gaborone that although it was normal for any business to get worried about emetrging substitution of
New Kimberlites Expected by Year-End
Gaborone: Botswana Diamonds, which had been using Alrosa technology to discover new kimberlites in the southern African country’s region of Orapa, said a new diamondiferous kimberlite will likely be discovered by year-end. “They (Alrosa) believe explicitly that they can find a diamondiferous kimberlite and their analysis indicates that they will find a diamondiferous kimberlite by Christmas,” company chairperson John Teeling
