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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
Doug Hucker Appointed as New CEO of ICA
New York: The International Colored Gemstone Association (ICA) has appointed industry veteran Doug Hucker as CEO, to succeed Gary Roskin. Hucker was the CEO of the American Gem Trade Association (AGTA) for the past 24 years, before leaving in March. He has also served on the boards of a number of industry associations, including the American Gem Society (AGS), the
Govt. Sets G&J Export Target of $45.7 Bln. for '22-23
Mumbai: The Indian Government’s Department of Commerce has set a gem & jewellery export (G&J export) target of USD 45.7 billion for the year 2022-23. This follows the industry’s stellar contribution of nearly 10% to the country’s overall exports of USD 400 billion last year. The top gem and jewellery export targets set for key countries in 2022-23 are: USA
India’s Q1 Platinum Jewellery Sales +20-30% by Volume
Mumbai: Platinum Guild International (PGI) said two-thirds of its retail partners experienced growth of 20-30% YoY in platinum jewellery volume sales in Q1 2022, according to the latest Platinum Jewellery Business Review. This was attributed to rising gold prices, so retailers focused on driving higher margins through platinum jewellery by aggressively driving conversions in stores, PGI said. Sharing its top-line
GJEPC Holds Certificate Course on G&J Export Process in Rajkot
Mumbai: GJEPC’s Surat Regional Office organised a two-day certificate course on ‘Export Process for the gem and jewellery industry’ in Rajkot on 11th-12th June, 2022. The course was specially designed for the gem and jewellery industry and covered all the practical aspects of the export process, including Product Selection, Market Selection, Searching Buyers, Risk Management, Export Documentation, Role of Various
Doug Hucker Appointed as New CEO of ICA
New York: The International Colored Gemstone Association (ICA) has appointed industry veteran Doug Hucker as CEO, to succeed Gary Roskin. Hucker was the CEO of the American Gem Trade Association (AGTA) for the past 24 years, before leaving in March. He has also served on the boards of a number of industry associations, including the American Gem Society (AGS), the
Govt. Sets G&J Export Target of $45.7 Bln. for '22-23
Mumbai: The Indian Government’s Department of Commerce has set a gem & jewellery export (G&J export) target of USD 45.7 billion for the year 2022-23. This follows the industry’s stellar contribution of nearly 10% to the country’s overall exports of USD 400 billion last year. The top gem and jewellery export targets set for key countries in 2022-23 are: USA
India’s Q1 Platinum Jewellery Sales +20-30% by Volume
Mumbai: Platinum Guild International (PGI) said two-thirds of its retail partners experienced growth of 20-30% YoY in platinum jewellery volume sales in Q1 2022, according to the latest Platinum Jewellery Business Review. This was attributed to rising gold prices, so retailers focused on driving higher margins through platinum jewellery by aggressively driving conversions in stores, PGI said. Sharing its top-line
GJEPC Holds Certificate Course on G&J Export Process in Rajkot
Mumbai: GJEPC’s Surat Regional Office organised a two-day certificate course on ‘Export Process for the gem and jewellery industry’ in Rajkot on 11th-12th June, 2022. The course was specially designed for the gem and jewellery industry and covered all the practical aspects of the export process, including Product Selection, Market Selection, Searching Buyers, Risk Management, Export Documentation, Role of Various
