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Same Line, Second Test: Gold and Silver Return to the 200-Day EMA
Macro Snapshot: The week ending July 10 unwound most of the recovery from the prior week. Gold gave back the majority of the July 3 bounce and silver gave back even more, with silver again showing the higher beta that has defined its behaviour on both sides of the correction. Both metals are back at the 200-day EMA area that held in late June: gold is still marginally above the line, silver has slipped just below it. Two macro shocks
Same Line, Second Test: Gold and Silver Return to the 200-Day EMA
Macro Snapshot: The week ending July 10 unwound most of the recovery from the prior week. Gold gave back the majority of the July 3 bounce and silver gave back even more, with silver again showing the higher beta that has defined its behaviour on both sides of the correction. Both metals are back at the 200-day EMA area that held in late June: gold is still marginally above the line, silver has slipped just below it. Two macro shocks
Top News
WJA Launches Financial Empowerment Series
New York: The Women’s Jewelry Association (WJA) launched its first-ever Financial Empowerment series in partnership with The Newman Group of Oppenheimer & Co. Inc. to further the personal and professional development of women in the jewellery and watch industries. The first event, Women and Money: Taking Control of Your Financial Future, will be held virtually Wednesday, February 24th, at 1pm
Alrosa Nets $430 Million from Jan Sales
Moscow: ALROSA, the Russian mining giant, has netted $ 430 million from January diamond sales – $ 421 million for rough diamonds and $ 9 million for polished diamonds, according to a press release issued by the Company. The company noted that the sales data for January are preliminary and subject to revision, and that more accurate and detailed information
Gahcho Kué Mine Suspends All Operations
Toronto: The Gahcho Kue diamond mine in Canada has suspended all operations after six workers tested positive for COVID-19. It follows a separate outbreak involving workers on contractor-operated winter road 25 miles away, although health officials do not believe the two are linked. The 335 workers currently at the mine in Northwest Territories, have been confined to their rooms, “except to use the washroom and for scheduled meal times“.
De Beers’ Jan Sight Earns Highest in Three Years
Gaborone: De Beers sold $650 million worth of rough diamonds at its first sales Sight of the year – “the highest figure” since January 2018. In the last Sight of 2020, De Beers sold $452 million worth of rough, while in the corresponding Sight of 2020 (Sight 1), De Beers sold $551 million worth of rough. Mr. Bruce Cleaver, CEO
WJA Launches Financial Empowerment Series
New York: The Women’s Jewelry Association (WJA) launched its first-ever Financial Empowerment series in partnership with The Newman Group of Oppenheimer & Co. Inc. to further the personal and professional development of women in the jewellery and watch industries. The first event, Women and Money: Taking Control of Your Financial Future, will be held virtually Wednesday, February 24th, at 1pm
Alrosa Nets $430 Million from Jan Sales
Moscow: ALROSA, the Russian mining giant, has netted $ 430 million from January diamond sales – $ 421 million for rough diamonds and $ 9 million for polished diamonds, according to a press release issued by the Company. The company noted that the sales data for January are preliminary and subject to revision, and that more accurate and detailed information
Gahcho Kué Mine Suspends All Operations
Toronto: The Gahcho Kue diamond mine in Canada has suspended all operations after six workers tested positive for COVID-19. It follows a separate outbreak involving workers on contractor-operated winter road 25 miles away, although health officials do not believe the two are linked. The 335 workers currently at the mine in Northwest Territories, have been confined to their rooms, “except to use the washroom and for scheduled meal times“.
De Beers’ Jan Sight Earns Highest in Three Years
Gaborone: De Beers sold $650 million worth of rough diamonds at its first sales Sight of the year – “the highest figure” since January 2018. In the last Sight of 2020, De Beers sold $452 million worth of rough, while in the corresponding Sight of 2020 (Sight 1), De Beers sold $551 million worth of rough. Mr. Bruce Cleaver, CEO
