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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
Senco Gold Launches Showroom in Prayagraj
Allahabad: Senco Gold & Diamonds has launched its 111th store in Prayagraj, (Uttar Pradesh). This is 3rd D’SIGNIA showroom from the brand in the country after Kolkata and New Delhi, and was inaugurated recently by the Mayor of Allahabad Municipal Corporation Smt. Abhilasha Gupta and Mr. Suvankar Sen, CEO – Senco Gold & Diamonds. D’SIGNIA is a dazzling destination for
Gold Demand Set to Increase in India: WGC
Mumbai: Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average,
Gemewizard Collaborates with IIG
Mumbai: The Gem Color Academy, Gemewizard’s educational wing, has announced the official opening of its fourth branch, run in collaboration with International Institute of Gemology (IIG) of India. The new venture enables IIG to offer online and on-site classes of Gem Color Academy’s Colored Stones Grading Course in its premises in India and Hong Kong. Gemewizard’s president Menahem Sevdermish discusses
Antwerp’s Rough Tenders Thrive Despite Pandemic
Mumbai: Antwerp’s tender houses have been thriving in 2020, enabled by quick adaptations and continuity of operations in the Antwerp diamond square mile. Antwerp is home to a critical mass of buyers as well as the largest concentration of tender houses and representative offices of mining companies, enabling the successful conclusion of nearly 100 rough tenders, and more than 10,5 million
Senco Gold Launches Showroom in Prayagraj
Allahabad: Senco Gold & Diamonds has launched its 111th store in Prayagraj, (Uttar Pradesh). This is 3rd D’SIGNIA showroom from the brand in the country after Kolkata and New Delhi, and was inaugurated recently by the Mayor of Allahabad Municipal Corporation Smt. Abhilasha Gupta and Mr. Suvankar Sen, CEO – Senco Gold & Diamonds. D’SIGNIA is a dazzling destination for
Gold Demand Set to Increase in India: WGC
Mumbai: Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average,
Gemewizard Collaborates with IIG
Mumbai: The Gem Color Academy, Gemewizard’s educational wing, has announced the official opening of its fourth branch, run in collaboration with International Institute of Gemology (IIG) of India. The new venture enables IIG to offer online and on-site classes of Gem Color Academy’s Colored Stones Grading Course in its premises in India and Hong Kong. Gemewizard’s president Menahem Sevdermish discusses
Antwerp’s Rough Tenders Thrive Despite Pandemic
Mumbai: Antwerp’s tender houses have been thriving in 2020, enabled by quick adaptations and continuity of operations in the Antwerp diamond square mile. Antwerp is home to a critical mass of buyers as well as the largest concentration of tender houses and representative offices of mining companies, enabling the successful conclusion of nearly 100 rough tenders, and more than 10,5 million
